Land Supply in Hong Kong
Our analytical framework gives a new perspective on identifying developable land and the housing shortage
The chronic housing shortage has kept Hong Kong’s residential prices among the costliest in the world. Previous government attempts to impose additional stamp duties have failed to stabilise the property market.
The Task Force on Land Supply generated 18 options for public consideration. Based on Colliers’ own analysis, we have identified the top five choices that should meet the minimum requirement of 1,200 hectares (ha).
However, we do not see the ongoing land supply debate generating a quick fix to the problem as most of the identified land is not available for immediate development.
Instead, the Hong Kong government should add more temporary housing, an issue ignored by the current Task Force on Land Supply, in order to tame community anxiety about continuously rising rental costs and property prices.