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Cooling Measures... for Hot Small flats

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  1. #201

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    Quote Originally Posted by ray98:
    Which is exactly my point. You can reduce the CGT when housing has become more affordable to provide a profit incentive for investors again.
    so either you are saying speculators are responsible for the overall trend (which they are not) or you want the Hong Kong housing stock to be poorly maintained until it falls apart and falls in value.

  2. #202

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    Quote Originally Posted by walkup:
    Too many wannabe socialists for the Peoples Republic of Hong Kong who say no, no, no they are not doing their Robin Hood thing and then do precisely exactly that by finessing with a 'non-economic productive activities' label or somesuch other similar nonsense.
    Hong Kong currently has a massive welfare culture with over 40% of the society living in subsidised housing. This has not worked in terms of creating a fairer society. The scheme just makes the rich richer and the poor stuck being poor.
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  3. #203
    Quote Originally Posted by East_coast:
    Hong Kong currently has a massive welfare culture with over 40% of the society living in subsidised housing. This has not worked in terms of creating a fairer society. The scheme just makes the rich richer and the poor stuck being poor.
    I am part agreement with you.
    I find myself wondering what you would like the govt to do instead?

  4. #204

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    Quote Originally Posted by East_coast:
    so either you are saying speculators are responsible for the overall trend (which they are not) or you want the Hong Kong housing stock to be poorly maintained until it falls apart and falls in value.
    I would say speculative activity has caused a speculative premium to be attached to market prices which is ONE of the major factors why their is unaffordable housing in Hong Kong.

    Your assertion that the HK housing will be poorly maintained just will not happen. Think of anti-speculation measures like a car, when you get near your destination, you slow down. Same with CGT, once homes approaches affordable, you relax the tax rates.

  5. #205

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    There is a massive disparity between poor and rich here and the HKGov seem to perpetuate this widening gap with its self serving policies on housing. There's nothing in this budget to put off rich property speculators, if anything the HKGov just made the market even more exclusive and desirable.

    Last edited by mrdollars; 11-03-2015 at 12:37 PM.
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  6. #206

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    Quote Originally Posted by walkup:
    Too many wannabe socialists for the Peoples Republic of Hong Kong who say no, no, no they are not doing their Robin Hood thing and then do precisely exactly that by finessing with a 'non-economic productive activities' label or somesuch other similar nonsense.
    You like your labels don't you? Well, I am no socialist and wanting measures to address an unfair affordable housing problem doesn't define me as one. This isn't an issue about rich versus poor, or socialism versus capitalism - its about addressing an unfair social injustice where honest hard-working people on above average wages can't afford or find it difficult to buy homes and start families.
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  7. #207

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    Quote Originally Posted by ray98:
    Your assertion that the HK housing will be poorly maintained just will not happen. Think of anti-speculation measures like a car, when you get near your destination, you slow down. Same with CGT, once homes approaches affordable, you relax the tax rates.
    So you do think that speculation is the underlying a driver for home price inflation?

    The car analogy doesn't seem to work.

    Anyway enough as it would seem no matter what the cause of the issue your CGT hammer is your prefered solution.

  8. #208

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    Quote Originally Posted by ray98:
    You like your labels don't you? Well, I am no socialist and wanting measures to address an unfair affordable housing problem doesn't define me as one. This isn't an issue about rich versus poor, or socialism versus capitalism - its about addressing an unfair social injustice where honest hard-working people on above average wages can't afford or find it difficult to buy homes and start families.
    Its like reading an old copy of The Guardian.

  9. #209

    The Property cycle in Singapore has been less than 18 years (like 15-16 years)

    The Top is in, apparently.
    This is from today's HK Standard, pg.18

    Slipping in Singapore - in the Overseas Property column by Tony Liaw

    + Urban Redevelopment Authority data shows prices dropped 4% last year, after +1.1% in 2013
    + Secondary market flats were down: Luxury flats averaged S$2,650 (HK$14,908) psf: - 6.2%
    + New condos were down 17% (!) to S$2,450 psf
    + Rents also fell, being down 3%, after a 0.9% gain in 2013

    A construction worker walks by the largely vacant Cape Royale condominium in Sentosa Cove

    Last edited by OffThePeak; 12-03-2015 at 05:57 PM.

  10. #210
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    Or "LIVE FURTHER AWAY", as you have failed to note.
    And as many do in most countries (like the UK where you will find many commutes of 1 to 1 1/2 hours each way. )

    But it is standard practice on this thread to ignore half of the facts to make some point that is based on half-baked logic.
    Last edited by OffThePeak; 12-03-2015 at 06:08 PM.