Call for lifting of 'harsh' property curbs

The Heung Yee Kuk yesterday called on Chief Executive John Lee Ka-chiu to cancel "harsh measures" imposed on the property market amid its sluggish recovery in a wish-list for the Policy Address.

Sources say Lee will hold public consultations at Aldrich Bay Government Primary School in Shau Kei Wan on Sunday and Sha Tin Government Secondary School on August 27.

It is understood the format of the consultation sessions will be similar to last year, with Lee listening to citizens' opinions, before those taking part are divided into groups to be joined by Lee and government officials.

Kuk representatives yesterday had a meeting with Lee and other officials and offered 35 suggestions.

Kuk chairman Kenneth Lau Ip-keung said the government should seize the best opportunity to scrap the harsh measures which were launched to cool the housing market since 2010.

The measures include a special stamp duty to curb speculation, a buyer's stamp duty for non-permanent residents and double stamp duty for buyers who own other properties.

"The housing market is sluggish and we have suggested the government should consider whether the harsh measures have lost their meaning," Lau said.

"The US Federal Reserve's decision to raise its interest rates has a negative impact on Hong Kong's overall economy. We all hope the government could scrap the harsh measures now, which is the best time to do so, to stabilize the property market and enhance Hongkongers' spending power."

Lau also expressed support for the government's plan to develop the Northern Metropolis into a convenient urban area, but he urged the authorities to include village reconstruction in its plan.

Currently, villages were excluded from the government's development plan, including six to seven villages in the center of the San Tin Technopole, a hub of the I&T development cluster, he said.

The villages would be surrounded by public housing estates as well as buildings used for innovation and technology, which was uncoordinated in planning, Lau said.

He urged that the villages be included in the government's development plan and that public-private collaboration be tapped in rebuilding the villages.

"There are brownfield sites in San Tin and the development plan will affect land users, including property owners and tenants. We hope the government could also consider their livelihoods when planning for the development," Lau said.

"I hope the government could listen to our appeals. Meanwhile, we will also do our job to lobby the villagers to achieve an agreement."

Lau said the authorities have to carry out urban-rural integration to achieve the best development potential of the San Tin Technopole.

He added that innovation development was crucial to the SAR and the government should attract more innovation and technology companies to the Northern Metropolis.

wallis.wang@singtaonewscorp.com