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Hong Kong Land for Hong Kong People$
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Yue Chim Richard Wong

Print publication date: 2015

Print ISBN-13: 9789888208654

Published to Hong Kong Scholarship Online: September 2015

DOI: 10.5790/hongkong/9789888208654.001.0001

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PRINTED FROM HONG KONG SCHOLARSHIP ONLINE (www.hongkong.universitypressscholarship.com). (c) Copyright Hong Kong University Press, 2022. An individual user may print out a PDF of a single chapter of a monograph in HKSO for personal use.date: 19 May 2022

Is There a High Land-Price Policy in Hong Kong?

Is There a High Land-Price Policy in Hong Kong?

(p.151) 21 Is There a High Land-Price Policy in Hong Kong?
Hong Kong Land for Hong Kong People

Yue Chim Richard Wong

Hong Kong University Press

Most people in Hong Kong believe that the city is once again in the midst of a housing affordability crisis. Housing prices are of course determined by both demand and supply. High housing prices may reflect high consumer demand for housing. However, they may also reflect restrictions on the supply side. Housing prices fluctuate with market conditions and the business cycle. This cyclical dimension may be a policy concern, because high housing prices affect low-income households and those without property assets for a time, but these effects are eventually self-correcting. But there is also a separate belief that, in Hong Kong, housing prices are high because the government has a “high land-price policy.” This is a very popular view with the public and even among experts with knowledge of economics and markets. Interestingly, this view cannot be easily proved or disproved.

Keywords:   Hong Kong, Housing, Housing policy, Public Housing, Politics, Social mobility, Population, Economics, Growth

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