[2].jpg "RIMG0617 (Large)")
(Camera: GXR A12 50mm)
We have two kinds of live forms in Hong Kong, with property developers and speculators as the supreme life-form and owners and aspirant owners of a property as the cheap low-life one. These are some of the whys:
-- In Hong Kong, touting for tickets of any sort is illegal and offenders are liable to conviction for ticket scalping. Applying this logic to the property market will be a long time coming, if that will ever happen. Do you have the ambassadorial eloquence to justify why landed-property scalping activities, a.k.a. speculation or investment, are permitted at the expense of the general public's interest?
We have two kinds of live forms in Hong Kong, with property developers and speculators as the supreme life-form and owners and aspirant owners of a property as the cheap low-life one. These are some of the whys:
-- In Hong Kong, touting for tickets of any sort is illegal and offenders are liable to conviction for ticket scalping. Applying this logic to the property market will be a long time coming, if that will ever happen. Do you have the ambassadorial eloquence to justify why landed-property scalping activities, a.k.a. speculation or investment, are permitted at the expense of the general public's interest?
-- Just as most booming countries in this part of the world, property prices have skyrocketed in recent years. Members of the public have urged the government to rein in the crazy property price hikes to, not surprisingly, no avail. Just days ago, a local property developer commented in public that the property prices were way too high, so much so that even his son could not afford one: he was talking about luxurious homes pitched at a unit price of over HK$100 million! What a funny mockery, Mr Developer! And this attitude is not a coincidence.
-- To add to the plight of the public, the government has defied yet another logic. In anywhere else around the world, robbery is an offence in law. But the reality here makes us more circumspect in accepting this truth. Recently, the government has in the name of redevelopment bulldozed ahead with the legislation of robbery in nature. It empowers property developers, after securing the consent of 80% of the owners of the designated properties, to make compulsory sale of homes of the remaining 20%. In a nutshell, the developers can sell people's properties without reaching a mutually acceptable agreement with them. And now that's LEGAL!
-- To add to the plight of the public, the government has defied yet another logic. In anywhere else around the world, robbery is an offence in law. But the reality here makes us more circumspect in accepting this truth. Recently, the government has in the name of redevelopment bulldozed ahead with the legislation of robbery in nature. It empowers property developers, after securing the consent of 80% of the owners of the designated properties, to make compulsory sale of homes of the remaining 20%. In a nutshell, the developers can sell people's properties without reaching a mutually acceptable agreement with them. And now that's LEGAL!
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