readx;? The hottest topic in Hong Kong in May was "whether there is a ready-made bubble due to high property prices". Pen Fun Pavilion wWw. ｂiquge。 infoAffected by the political turmoil in the mainland, Hong Kong has suddenly seen a new round of immigration waves since the second half of last year. A large number of Hong Kongers who are preparing to emigrate overseas are eager to sell off their property holdings, causing Hong Kong's property prices to plummet, halved by a third in a few months.

However, since the beginning of this year, the shadow of the "political turmoil" has begun to fade, and everyone's mentality has recovered from the panic of the value to the calm. Especially after the recent announcement of the Eastern Bloc that it will launch a new round of large-scale investment in the mainland, the confidence of the whole market has been boosted.

As the largest local consortium in Hong Kong, the Oriental Group and Li Xuan, as the world's richest man for many years, have expressed with practical actions that they will continue to be optimistic about the future prospects of the mainland, which has undoubtedly reassured many people who are worried about it. When the sky falls, there is a tall one on top first, and a rich man of Li Xuan's level is undoubtedly a weather vane in the eyes of many people!

The speculation that has disappeared for nearly a year has once again reappeared. There is a grapevine that Cheung Kong Group will launch the Huijing Garden real estate in advance, so overnight, there was a long queue of two or three thousand people to buy houses in front of the Chinese Bank, the headquarters of Cheung Kong Group.

In the mid-80s, Li Ka-shing cooperated with the Hong Kong MTR Corporation to win a number of MTR station superstructure projects in one fell swoop. The Sceneway Garden, built on the platform of Lam Tin Station of MTR Line 2, is the last large-scale private housing estate project along the MTR line operated by Cheung Kong.

Although Cheung Kong Company urgently came out to refute the rumors, Huijing Garden was planned to be completed in August 1992 and would not open this year, but the queue was still reluctant to leave. Due to the limited scale of Sceneway Garden, the total number of earned units is less than 1ooo. According to the sales management of Hong Kong developers, the units launched at the second opening are only 70% or 80% of the total profit at most.

In other words, the people at the bottom of the line did not have a chance to pick buds at all, so there was a ridiculous speculative transaction on the scene. A speculator simply negotiated with the people at the front of the queue and was willing to pay 50,000 Hong Kong dollars to buy his queue number, but a group of people did not react.

In the end, when the price was raised all the way to 80,000 Hong Kong dollars, a person in the fiftieth position of the queue stood up, and when he sold his position B while the money was sold at the expense, it was a scene that Cheung Kong Company had refuted the rumors on the spot that there was no sales plan today, which shows how prevalent the property speculation in Hong Kong is.

The term "off-the-plan" was first coined by Huo Yingdong, who is known as a "red capitalist", in the 50s, and to put it bluntly, it is a kind of pre-sale house. At that time, Huo Yingdong, who had just earned his first pot of gold by smuggling scarce materials to the mainland during the Korea-Xian War, was interested in entering the real estate industry.

But real estate is a capital-intensive industry, and Huo's strength is slightly insufficient. So Huo Yingdong came up with a way to "sell pre-sale properties", and sold them at a certain discount price when the real estate just started. In this way, Huo's can withdraw funds in advance and use the buyer's money to build the building, which greatly reduces the cost and risk of opening.

For home buyers, buying options in advance can get a bigger discount than buying an existing home. Even if you don't live in it, you can get a lot of difference when you resell it to other buyers at the opening price after the real estate is completed, which is the origin of speculation.

Of course, speculation on pre-sale properties needs to be based on the premise that housing prices are rising and the property market is not in supply. For example, Hong Kong's property prices plummeted last year, and they were cut in half by one-third in just a few months, making people who speculated on unplanned properties lose so much that they vomited blood and defaulted on their contracts halfway.

Buying an off-plan property can be divided into two types according to the different payment methods. One is a ** clear, so that the discount is the largest. The other is to pay in installments according to the construction progress of the real estate, such as the first payment for 25% of the completion, and the second payment for the second payment for 5o%.

The discount is not as large as the first one, but it is relatively risky for home buyers. Once the real estate is unfinished, or the property price plummets, there is still a chance to stop paying and survive to reduce losses.

In last year's frenzy of halving property prices, many speculators who bought pre-sale properties and just started to pay for them defaulted one after another. As a result, a number of weak businesses fell into difficulties in capital turnover for a while, and several of them finally failed to survive and went bankrupt!

And when the property market is booming, speculating on pre-sale properties is almost synonymous with getting rich overnight. In 1986, Hong Kong's real estate industry ushered in its first wave of upward movement after emerging from the future crisis, when 448 units were launched for sale in Heng Fa Estate, a large private housing estate in Chai Wan on Hong Kong Island. Eight days before the opening of the market, there were already a large number of buyers, including generation queuers, speculators and corporate brokers, waiting in long queues day and night.

There is a family of grandparents and grandchildren of three generations and six people went to line up together, and finally got five application forms for buying a house. In the sales hall, the family immediately sold it to a speculator who bought it at a high price of 40,000 Hong Kong dollars each, which means that the family made a net profit of 2o Hong Kong dollars after painting for a week.

In fact, the family only made a fraction of the money compared to the speculators, because the house price of Heng Fa Estate rose by at least 3o yuan in less than a month after the opening of the market, even the price of the smallest unit. That is to say, the previous speculator spent 2o yuan to acquire the application form, and only need to pay money to buy a house for a month, and you can reap at least 13o net profit.

It is precisely because property speculation can make hundreds of thousands or even millions of dollars as soon as it changes hands, that Hong Kong society has rapidly formed a gambler's mentality since the 80s, which is determined to win or lose, and win and win. People who work hard to earn money are far less likely to live than speculators who do not do their jobs, and this great frustration is a great disservice to society as a whole.

In the past, although some people of insight in Hong Kong were aware of the hidden dangers brought by speculative property market to Hong Kong society. But the strong influence of Hong Kong's major real estate developers has made it impossible for these dissenting voices to stir up waves. Real estate companies have always been the largest advertisers of major newspapers and magazines in Hong Kong.

Almost every real estate sale is preceded, and the real estate company will buy a full-page, full-page layout for the sale of the property. Therefore, in order not to offend these financiers, the editors-in-chief of newspapers and magazines are naturally reluctant to publish articles and opinions that are not conducive to the property market.

Because for real estate companies, the hotter the Hong Kong property market is speculated, the more they will earn. Many companies are even secretly working with property speculators to further exacerbate the panic of home buyers, and then take advantage of the trend to raise prices to grab more profits.

And this time it was different, Li Xuan's TV station and newspaper bravely fired the first shot. Oriental Group itself is not involved in the real estate industry, and it is strong enough to compete with the big real estate companies in Hong Kong.

Just when others were about to enjoy a dragon and tiger battle of "God of Wealth Li vs. Real Estate Guy", Li Jiacheng, known as the "real estate man", suddenly accepted an exclusive interview with Hong Kong Economic Journal, and agreed with the view that "the imbalance between supply and demand in Hong Kong's property market has caused irrational rise in property prices".

The entire Hong Kong media circles were in an uproar, knowing that "Li Ren" was notoriously tough. In the past, a Hong Kong newspaper published a frivolous report ridiculing Li Jiacheng, but Li Ka-shing immediately instructed Cheung Kong Group to withdraw the advertising contract and permanently ban him. In the end, the newspaper had no choice but to bow to Li Jiacheng and fire the reporter who wrote the lace report there.

It is precisely because of this experience that there are almost no negative reports about Li Ka-shing and Cheung Kong Group in Hong Kong's newspapers and magazines. In contrast, Li Xuan is much more tolerant of the media. As long as it is not maliciously slandered and slandered, or exposed photos of his children, etc., which have been prohibited in advance, Li Xuan is indifferent to other lace news surrounding him. Of course, if a reporter dares to break through the bottom line and make him angry, Li Xuan will definitely make him regret not changing careers in advance!

One Li Jiacheng is enough to make Hong Kong's media circles fearful, and if all the real estate tycoons in Hong Kong join forces, it will be enough to fight with the "God of Wealth Lee" for 300 rounds. You must know that taking Hong Kong's housing prices is undoubtedly a sore foot for the entire Hong Kong real estate industry. Because the house will always sell better and better the price rises, and the more it falls, the more it can't be sold!

But what everyone didn't expect was that Li Jiacheng, the boss of Hong Kong's largest real estate company, unexpectedly turned back, which made the big battle that was supposed to be Mars hit the earth not pinched at all. Subsequently, Sun Hung Kai's Guo Desheng, Henderson's Li Zhaoji, Wharf's Bao Yugang and others also spoke out one after another, agreeing with Li Jiacheng's views.

At this time, even the most insensitive people are already wrong, where is the "God of Wealth Li" and the major real estate tycoons are ready to fight, they are joining forces to give Hong Kong citizens a spring performance, and even the bosses of real estate companies admit that Hong Kong's housing prices are too high, so the editors and reporters of Hong Kong's major newspapers and magazines are naturally no longer allowed to scruple about this topic that they have not dared to touch before.

The reason why Hong Kong's housing prices have risen so outrageously is because of the surging supply on the one hand, and because of the speculation of travel funds on the other hand. In fact, the cause of the problem is very easy to find, and the answer to the problem is very clear, that is, to build more houses and restore supply and demand to an equilibrium state, so that speculators have no room for speculation.

But to build a house, you must first have land, and the land needs to be approved from the Hong Kong government. As a result, the spearhead of public opinion slowly began to concentrate on the head of the Hong Kong government. In the past, scolding the government was not something Hong Kong newspapers and magazines dared to do often.

You must know that Hong Kong is a colony, and the Governor of Hong Kong has far more power in Hong Kong than the British Prime Minister in Downing Street. Every policy issued by the British Prime Minister will be analyzed and refuted under the microscope by Fleet Street, and in many cases it will be misinterpreted and smeared by the opposition parties, protested by the people, and questioned by Parliament. In Hong Kong, on the other hand, the Governor of Hong Kong is a hall of words, and even the members of the Legislature-Judiciary and the Executive-Political Bureau are appointed by him.

However, this situation began to change after Li's TV was acquired by Li Xuan and renamed Asia Television. At Li Xuan's request and support, ATV began to increase the proportion of current political news programs, and more and more spicy views were transmitted to the eyes and ears of every Hong Kong citizen through ATV's screen.

No matter how democratic-owned and efficient the government is, it will not be able to satisfy every citizen. In a way, they are naturally opposed to each other. The Hong Kong government's desire to promote the process of democratization in Hong Kong is giving ASV an excellent opportunity to establish its life for the people.

What is the British government in Hong Kong? It is a colonial government that is not subject to the supervision and deterrence of votes, and it is not too easy to grasp its pigtails. ATV still had some less sensitive livelihood issues at the beginning, but slowly began to deepen gradually. In the debate after debate, ATV's public trust has gradually begun to take root in the hearts of the people, and its image of representing the people of Hong Kong has gradually been recognized.

With ATV as a leading role model for the rebellion, it is only natural that other media in Hong Kong are starting to become more and more bold. For example, the debate over housing prices in Hong Kong was the first to point the finger at the Hong Kong government, rather than other media outlets of the ATV Group.

One tabloid was the first to question the Hong Kong government's policy of selling land at high prices, citing Singapore as an example. The prevailing perception in Hong Kong has long been that the Hong Kong government's income from land sales at high prices supports most of the government's spending. If there is no revenue from land sales, Hong Kong would have to raise taxes significantly to maintain its balance of payments. This will undermine Hong Kong's competitiveness as a ****** and be detrimental to the long-term prosperity of Hong Kong's export-oriented economy.

However, it is far fairer to regulate the secondary distribution of wealth through taxation than the Hong Kong government is doing now. Most of the cost of land transfer money is passed on to low- and middle-income earners, who are the main part of the market.

The control of land auctions artificially creates an imbalance between supply and demand, so that real estate developers and banks can join the Hong Kong government to make a lot of money by shearing the wool of ordinary Hong Kong citizens. And because of Hong Kong's low tax policy, the tax costs for the rich are much lower than those in the United States and Europe, which further exacerbates the widening gap between the rich and the poor.

In fact, a low tax rate does not necessarily mean that the government will not be able to maintain a balance of payments, and Singapore is one of the lowest tax rates in the world. Singapore, which has a small land area, has a more serious problem of less land and more people than Hong Kong. However, the government has built a large number of low-cost public housing for the people through the "Home Ownership" scheme, making Singapore's per capita housing situation much better than that of Hong Kong!

Among the "Asian Tigers", the situation is similar in South Korea and Taiwan, while the situation in Hong Kong and Singapore is similar. Comparing two regions with very similar conditions in all aspects can give people a profound impact m For the first time, Singaporeans live far happier than themselves! )

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