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WEDNESDAY, FEBRUARY 28, 1979
MORE LAND AVAILABLE *****
INCREASING QUANTITIES OF LAND ARE EXPECTED TO BE MADE AVAILABLE IN THE COMING YEAR, THE FINANCIAL SECRETARY SAID TODAY (WEDNESDAY).
BUT AS MOST OF THIS LAND WOULD BE IN THE NEW TOWNS, THE INCREASED SUPPLY MIGHT HAVE ONLY A LIMITED INFLUENCE ON LAND PRICES IN THE MAIN URBAN AREAS, THE HON. PHILIP HADDON-CAVE SAID.
HE SAID THE RECENT RAPID INCREASES IN LAND PRICES, PARTICULARLY IN THE MAIN URBAN AREAS, REFLECTED NOT ONLY THE FACT THAT THE SUPPLY OF LAND WAS LIMITED, BUT ALSO HONG KONG'S RECENT PROSPERITY AND THE VIEW CURRENTLY BEING TAKEN ABOUT THE FUTURE.
+THE BEST RESPONSE TO RISING LAND PRICES,+ MR. HADDON-CAVE SAID, IS THE PROVISION OF MORE LAND AND THE GOVERNMENT WAS ABLE TO FEED MORE LAND ON TO THE MARKET THIS YEAR THAN I HAD THOUGHT POSSIBLE.+
THE FINANCIAL SECRETARY AGREED THAT THE GOVERNMENT DID HAVE +AN IMPORTANT INFLUENCE ON THE LAND MARKET.
+WE HAVE GENERALLY ATTEMPTED TO EXERCISE THAT INFLUENCE IN A LARGE NON-INTERVENTIONIST MANNER, DISPOSING OF LAND TO THE HIGHEST BIDDER IN THE BELIEF THAT THIS WILL ENSURE ITS MOST EFFICIENT USE, HE SAID.
INEVITABLY. THE GOVERNMENT HAD INFLUENCED LAND PRICES BY THE RATE OF LAND PRODUCTION, THE PROPORTION OF LAND PRODUCED TO BE RESERVED FOR PUBLIC HOUSING AND G.1.C. USE, AND TO A LESSER EXTENT, BY THE SPECIAL PAYMENT TERMS OFFERED TO BUYERS OF INDUSTRIAL SITES AND OF LARGE COMMERCIAL/RESIDENTIAL SITES.
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