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Surveyors have expressed concerns about residential property sales linked to government proposals in West Kowloon, an area known for robust transportation and tourism facilities.
His comments followed the West Kowloon Cultural District Authority's submission of plans to the Yau Tsim Mong council's housing and development planning committee, proposing the construction of up to 1,995 residential flats on a 20,000-square-meter site.
Midland Surveyors director Alvin Lam Tsz-pun echoed Fong's sentiments, attributing the sluggish performance in recent land sales, in part, to the size of certain parcels.
"While there may not be issues like inadequate transportation support, the scale of the land poses significant investment concerns for developers," he said.In a separate announcement regarding the quarterly land sale for the fourth quarter of 2024-25, Secretary for Development Bernadette Linn Hon-ho said the bureau had submitted an environmental impact assessment report for the development of the Kau Yi Chau Artificial Islands.
But when reclamation starts depends on the outcomes of future studies and the sequencing of other projects, making it premature to set a commencement date at this time, Linn said.Tony Tse Wai-chuen, who represents the architectural, surveying, planning and landscape sector in the Legislative Council, supported the continuation of preparatory work for the project but said that there was no need to establish a starting date.
He argued that current market conditions should be considered, suggesting the demand for land is not urgent and that the Northern Metropolis is expected to provide sufficient supply to meet future demand.Tse said hastily increasing land reserves is unnecessary and that the government should focus primarily on having a balanced budget, given ongoing cash flow and deficit challenges.
