XN000022-1987-07-08 — Page 28

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WEDNESDAY, JULY 8, 1987

HIS FUNCTIONAL

MR CHENG SAID HE HAD CONSULTED MEMBERS OF CONSTITUENCY, IN PARTICULAR THE HONG KONG INSTITUTE OF SURVEYORS AND ROYAL INSTITUTION OF CHARTERED SURVEYORS (HONG KONG BRANCH) JOINT WORKING PARTY, AND HAD RECEIVED ADVICE FROM INTERESTED GROUPS ON THE MAIN CHANGES DEVISED IN THE AMENDED STRATEGY.

WHILE REDEVELOPMENT WAS NECESSARY OF THE OLDER ESTATES TO IMPROVE ENVIRONMENT AND LIVING STANDARDS WITH A BETTER BALANCE IN THE HOUSING MIX, GOVERNMENT SHOULD ENSURE THAT SUCH REDEVELOPMENT WOULD INCREASE THE NUMBER OF FLATS TO ACCOMMODATE A GREAT DEAL MORE HOUSEHOLDS BEARING IN MIND THAT THE DEMAND FOR HOUSING REMAINED TO BE SUBSTANTIAL, MR CHENG SAID.

SIZES OF UNIT HOUSEHOLD NEED

IN PLANNING ANY REDEVELOPMENT, HE ADDED, IT WAS IMPORTANT THAT CARE SHOULD BE TAKEN NOT TO PROVIDE TOO MANY VARIED SOME OF WHICH HAD PROVED TO BE UNSUITABLE FOR AVERAGE IN RECENT REDEVELOPMENT.

"PAST EXPERIENCE HAS ALERTED THAT IN FUTURE GOVERNMENT SHOULD ASSURE QUALITY NOT ONLY IN DESIGN CONSTRUCTION ΤΟ AVOID SUCH DEFICIENCIES THAT WOULD ANOTHER REDEVELOPMENT AFTER A RELATIVELY SHORT LIFESPAN,

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REDEVELOPMENT BUT ALSO IN REQUIRE YET HE SAID.

MR CHENG SAID HE WAS IN FAVOUR OF THE INTRODUCTION OF A HOME PURCHASE LOAN SCHEME. HOWEVER, HE SAID, THE SCHEME NOW PROPOSED BY GOVERNMENT WAS NOT AT ALL ATTRACTIVE ΤΟ ASSIST MANY POTENTIAL FAMILIES IN OVERCOMING THE PROBLEM OF INITIAL FINANCING.

HE THEREFORE SUGGESTED THAT THE MAXIMUM LOAN OF $50,000 BE SUITABLY INCREASED AND THAT THE LIMIT OF 10 PER CENT OF THE FLAT PRICE BE DELETED.

FURTHERMORE, MR CHENG DESCRIBED AS MOST UNFAIR A PROPOSAL THAT THE VENDOR WOULD BE REQUIRED ΤΟ REPAY THE GOVERNMENT AN AMOUNT ALLOWED FOR PROFIT TAKEN AT RESALE OF FLATS AS A DISINCENTIVE TO SPECULATION.

HE SAID THE PROPOSAL SHOULD NOT BE APPLICABLE AFTER A TIME LIMIT, SAY A PERIOD OF FIVE YEARS, AFTER WHICH IN HIS OPINION, ANY RE- SALE WOULD BE VERY UNLIKELY TO BE SPECULATIVE.

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