31
WEDNESDAY, NOVEMBER 6, 1991
IS
BEING
MR
FOUND
ΤΟ
BUYERS
COMMENTING ON REPORTS THAT THE BALLOTING REQUIREMENT
REPO CIRCUMVENTED BY PEOPLE SELLING THE SUCCESSFUL CHIPS TO OTHERS, BARNES REMINDED DEVELOPERS OF THE CONSEQUENCE IF THEY WERE BE IN COLLUSION WITH SUCH AN ARRANGEMENT, AS WELL AS POTENTIAL OF THE RISK WHICH THEY WOULD FACE.
HE POINTED OUT THAT THE CONSENT SCHEME ALLOWED ONLY THE PERSON WHOSE NAME AND IDENTITY CARD NUMBER HAD BEEN REGISTERED THE DEVELOPER THE RIGHT TO SELECT THE FLAT AND TO CONCLUDE AND PURCHASE AGREEMENT.
SAME
WITH
THE
SALE
WAS BOUGHT
"EVEN IF HE PURPORTED TO HAVE SOLD HIS CHIP THIS PERSON UNDER NO OBLIGATION TO SELL OFF HIS FLAT TO THE PERSON WHO HAD THE CHIP, NOR WAS THERE ANY GUARANTEE THAT HE WOULD NOT SELL IT то ANOTHER HIGHER BIDDER OR INDEED TO A NUMBER OF BIDDERS.
"SO, TO TRUST ONE'S MONEY TO THOSE SELLING SUCCESSFUL CHIPS IS VERY DANGEROUS. WE HAVE SECURED DEVELOPERS' AGREEMENT TO PUBLICISE THIS FACT BOTH AT THEIR SALE OFFICES AND IN THEIR PUBLIC ANNOUNCEMENTS, HE SAID.
IN RESPONSE TO THE NEED TO INCREASE THE SUPPLY OF RESIDENTIAL LAND TO ENABLE MORE FLATS TO BE PUT ON THE MARKET, AS POINTED OUT BY MANY MEMBERS.
1
HE EXPLANED THAT THE AIMS OF HONG KONG'S HOUSING POLICY WERE TO ENSURE THAT ADEQUATE HOUSING AT AN AFFORDABLE PRICE OR RENT WAS AVAILABLE TO ALL HOUSEHOLDS, AND TO PROMOTE AND SATISFY THE GROWING DEMAND FOR HOME OWNERSHIP.
HENCE A MAJOR PRIORITY IN GOVERNMENT'S LAND POLICY WAS TO MAKE SUFFICIENT LAND AVAILABLE TO MEET HOUSING NEEDS.
HE DSCLOSED THAT IN THE PAST FIVE YEARS, AN AVERAGE OF OVER 100 HECTARES OF LAND WAS MADE AVAILABLE FOR HOUSING EACH YEAR AND OVER 390,000 NEW FLATS WERE PRODUCED.
DURING THE SAME PERIOD, THE NUMBER OF HOUSEHOLDS
ONLY 130,000.
INCREASED BY
"THUS AT MOST ONE-THIRD OF THE NEW FLATS IN BOTH PUBLIC AND PRIVATE SECTORS WOULD HAVE BEEN SUFFICIENT TO MEET THE NEEDS OF NEW HOUSEHOLDS AND AT LEAST TWO-THIRDS WERE AVAILABLE TO MEET THE DEMANDS FOR IMPROVED HOUSING AS WELL AS INVESTMENT OPPORTUNITIES, HE SAID.
++
LOOKING AHEAD, MR BARNES ANTICIPATED THAT THERE WOULD BE NO SHORTAGE OF RESIDENTIAL LAND.
TAKING INTO ACCOUNT THE FORMATION OF NEW HOUSEHOLDS AND THE NEEDS OF THE INADEQUATELY HOUSED, BALANCED AGAINST ADDITIONAL HOUSING GENERATED BY REDEVELOPMENTS, HE SAID A HOUSING DEMAND OF SOME FLATS PER YEAR WAS FORECAST FOR THE PERIOD 1994/95 TO 1998/99.
66,000
/"ALLOWING TIME