[The 2017--18 budget] new financial year up to 32,000 property , which the largest amount within 6 years

Sell ​​surface by 20 Homestead coffers continued material over billions

news (reporter Yan Lundu) budget Anzuo announced sales revenue this year to reach $1,178 billion, a record high, compared with the original estimate of 50.8 billion HKD or 76% increase. The new fiscal year to be introduced multiple precious urban land, land sales material will remain high, is expected to bring $101 billion. Surface will sell 20 new residential area, together with the accumulated eight, a total of 28 residential land can be built on approximately 19,000 partners, plus other supplies, the new fiscal year the total supply of 32 000 partners, the highest six-year high. Financial Secretary Paul Chan reminded unstable external economic environment, and the next few years a substantial increase in the supply of the property market, the pace of normalization of US interest rate, the property market there is a certain risk.

Paul Chan announced yesterday, to increase land and housing supply is one of the focus of the SAR Government, which not only seek to involve technical work and development, in the process but also to balance the different stakeholders needs and expectations, difficult. The Government should continue efforts to increase land supply and comprehensive to meet Hong Kong's needs in housing, economic and social development, but also to plan ahead and create a land reserve for the future.

The next three years a new high of gang supply 94000

He noted that the 2017/18 annual sales plan total of 28 residential land available for the construction of about 19 000 partners, of which 20 are new sites. Gauge railway and property development, the Urban Renewal Authority, private reconstruction and development projects, the new fiscal year is expected potential supply of land for private housing is about 32,000 units, a 6-year high, compared with the current financial year 28,620 3,380 increase a partner, second only to the 35,400 gang 2011/12 fiscal year. Development Bureau today announced further plans to sell next year. As at the end of last year, the next 3-4 years may be suppliedHand market private residence units are about 94,000 gang, a record in September 2004 has published a new quarterly high since statistics.

Beware of interest rates towards the periphery of instability

However, Paul Chan yesterday reminded now confront uncertain external environment, the interest rate trend is not clear, sharp fluctuations in capital flows at any time, or may significantly affect local asset prices, the impact of the consumer market, investment sentiment and macroeconomic stability. Over the past few years, the supply of residential units is tight, ultra-low interest rates and the impact of factors superimposed inflows, the local property market is very hot, increase in property prices out of line with economic realities.

Paul Chan refers to, the Government has been actively increasing the supply of land and housing, and launched several rounds of demand management and macro-prudential measures to ensure overall macroeconomic stability and financial system. Additional stamp duty, stamp duty buyers, coupled with last year, launched in November to raise ad valorem stamp duty and other measures to sharply reduce short-term speculative activities of non-domestic demand and investment demand success. Over years, the Government actively to increase land supply, gradually completed residential units, a substantial increase in housing supply will be the next few years. If the Fed interest rates this year to speed up the process of normalization of the real estate market there are certain risks.

Adjusted revenue from land sales is calculated

It is worth noting that in recent years in response to the government to push the number to rise, the government decided to change the calculation method to sell land revenue. Paul Chan announced yesterday that from 2018/19 will be the past 10 years the annual revenue from land sales accounted for an average level of GDP (that is, 3.3% of GDP) calculation is different from the assumptions used in recent years (average of the past 30 years number, ie 2.8% of GDP).

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