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Hong Kong Intelligence Report #106 反自住需求優先政策的香港統治階級續造炒家天堂

Updated: Nov 8, 2023

Open-source intelligence (OSINT)

Hong Kong Intelligence Report #106 反自住需求優先政策的香港統治階級續造炒家天堂
FILE PHOTO: Housing © Envato

🔻 IMPORTANT 【重要】塑造全面炒家天堂


▪️ 塑造全面炒家天堂:在2023年10月25日施政報告發表當日李家超即時實施「減辣」(為擁有兩個以上住宅單位的,炒家縮短了額外印花稅(SSD)的適用期由3年改為2年;買家印花稅(BSD)和新住宅印花稅(NRSD)的稅率則從15%減為7.5%;為外來炒家/駐在員的置業印花稅實施「先免後徵」等),亦可謂一半撤辣。同時這意味著中央政府和中共正式批准了利好香港炒家(統治階級)的極具爭議性的措施。從此之後,在香港,所謂「房住不炒」,「共同富裕」,「解決深層次矛盾」等官方口號就只會更喪失民心。繼「突然放開」以來,「減辣」的日期乃香港放棄解決深層次矛盾的轉淚點。接下來,目前構成的局面是,在2027年港府啟動北部都會區大規模收地賠償的動作前,北部都會區的炒地炒樓仍會持續猖獗。如超高樓價水平證實,「本港沒有炒風了」純然是虛偽。換言之,減辣和明年後的完全撤辣早已為此佈局,以加劇投機。結局,還是以超大規模重現1982年Mightycity天水圍炒地賺取巨額賠償金額的‘發展’模式。此外,所謂外來人才的置業印花稅優惠措施也顯示地產黨的政治意圖是方便輸入境外炒家以及讓駐在員積極轉變為炒家。總之,炒家天堂的塑造是未來政治經濟趨勢。中共和本港既得利益集團無意改變炒樓炒股的新自由主義模式。那麼,貧富差距和高地價,高樓價,高租金,高分紅率及高物價有系統地惡化的民生,消費和經營環境只會每下愈況。因此,超高樓價不單只是樓價本身的問題。本港經濟不佳,即大眾消費以及中小企入市時受壓,受打擊的主因在4高(高地價,高樓價,高租金,高物價)體制。所謂負資產與負債不同,負資產的元兇是其難以負擔的超高樓價本身。就整體而言,本港引發大規模政治動盪和移民潮的溫床和民怨未來一直都不會消失。本港深層次矛盾的現象突顯在房屋/貧困問題上,並且在政治經濟上則以政治動盪和移民潮來顯現。最近熱門的北上消費也是由於4高所致,即高租金造成物美價廉的高物價。此外,不可忽視的特徵是,香港統治階級在政治上以所謂反對派之名偷偷替換成勞動者階級來強化自身的權力。換言之,實際上把勞動者階級當作反對派來偷偷打擊勞動者階級的利益。在反對派和勞動者階級之間劃下等號來推動只會有利於統治階級自己的政策。


Shaping up a full-fledged speculator's paradise: On October 25, 2023 when the Policy Address was delivered, John Lee Ka-chiu immediately implemented the "Spice Reduction" (for speculators owning more than two residential units, the applicable period of the Special Stamp Duty (SSD) has been shortened from three to two years; the rates of the Buyer's Stamp Duty (BSD) and the New Residential Stamp Duty (NRSD) have been reduced from 15% to 7.5%; and the stamp duty for home ownership has been reduced by half, so to speak, and the stamp duty for foreign speculators/residents has been exempted before it is levied after becoming a permanent resident, etc.). At the same time, this means that the Central Government and the Chinese Communist Party formally approved the controversial measures in favor of Hong Kong speculators (ruling class).

From now on, official slogans such as "no speculation in housing", "common prosperity" and "resolving deep-rooted contradictions" will only lose more popularity in Hong Kong. Following the "sudden relaxation of the ZERO-COVID policy", the date of "reducing spiciness" is the turning point for Hong Kong to give up resolving deep-rooted conflicts.

Next, the current situation is that land and property speculation will continue to be rampant in the Northern Metropolis until the Hong Kong government initiates a large-scale land resumption and compensation exercise in 2027. As the ultra-high property price level confirms, "there is no more speculation in Hong Kong" is purely hypocritical. In other words, the reduction of spices and the complete withdrawal of spices after next year have already been planned to intensify speculation.

In the end, the 'development' model of the 1982 Mightycity Tin Shui Wai land speculation for huge compensation will be reproduced on a very large scale. Moreover, the so-called home purchase stamp duty concession for foreign talents also shows that the political intention of the Real Estate Party is to facilitate the importation of foreign speculators and to make the expatriates actively change into speculators.

In short, the shaping of a speculator's paradise is the future political and economic trends. The Chinese Communist Party and the vested interests in Hong Kong have no intention of changing the neo-liberal model of property and stock speculation. As a result, the disparity between the rich and the poor and the high land prices, high property prices, high rents, high dividend rates and high prices of goods are systematically deteriorating people's livelihood, consumption and business environment will only get worse. Therefore, ultra-high property prices are not just a problem of property prices per se. Hong Kong's economy is in the doldrums, which means that public consumption and SMEs' entry into the market are under pressure, and the main cause of the blow is the four highs (high land prices, high property prices, high rents, and high prices of goods).

In addition, negative assets are different from liabilities in that the culprit of negative assets is unaffordably high property prices. Overall, the hotbeds of discontent and public grievances that have given rise to massive political instability and emigration from Hong Kong will not go away in the future. The deep-seated contradictions in Hong Kong are highlighted in the housing/poverty issue and are manifested in the political economy by political instability and immigration.


The recent popularity of consumption in the north is also attributed to the four highs. That is, high rents have resulted in high prices for good and inexpensive goods. In addition, a feature that cannot be overlooked is that the ruling class in Hong Kong has secretly replaced the working class with the so-called opposition in politics to strengthen its own power. In other words, the ruling class in Hong Kong is actually using the working class as the opposition to secretly attack the interests of the working class. Drawing an equivalence between the opposition and the working class in order to promote policies that would only benefit the ruling class itself.


Hong Kong Intelligence Report #106 反自住需求優先政策的香港統治階級續造炒家天堂
FILE PHOTO: Hong Kong's Deep-seated Contradictions © Ryota Nakanishi

▪️毫無以色列-哈瑪斯戰爭有關的本港示威:從2023年10月7日以色列-哈瑪斯戰爭爆發以來,本港毫無勢力發動反以色列或反哈瑪斯示威或集會顯示本港統治階級的政治取向。雖然本港中文媒體報導傾向於反以色列,但仍然沒有反以色列示威遊行和集會是正面的。並且與本港對待俄烏戰爭形成對比。換言之,如俄烏戰爭示威顯示本港市民大規模參與與本港無關的國際事件示威遊行集會是屬於低等的可能性。在截稿和發布此報告後,有報導指在11月4日,6人組成的反以色列人士照樣去以色列駐港領事館抗議,並且德國之聲DW配合他們的行動一事。這仍然不算數,是因為那並不具有真群眾性,而只是抗議公關,為製造新聞而做,結局並無廣泛的大眾傳播,也並無引發群眾行動。


No Israel-Hamas War related demonstrations in Hong Kong: Since the outbreak of the Israel-Hamas War on October 7, 2023, there have been no anti-Israeli or anti-Hamas demonstrations or rallies which demonstrate the political orientation of the ruling class in Hong Kong. Although the Chinese media in Hong Kong tends to be anti-Israeli, there are still no anti-Israeli demonstrations or rallies. This is positive. It also contrasts with Hong Kong's treatment of the Russo-Ukrainian War. In other words, if the Russo-Ukrainian War demonstrations show that Hong Kong people's large-scale participation in demonstrations and rallies in international events unrelated to Hong Kong is a low probability.


After the deadline and the publication of this report, it was reported that on November 4, a group of six anti-Israelis went to the Israeli Consulate in Hong Kong to protest, and that Deutsche Welle DW cooperated with their action. This still doesn't count because it wasn't really mass, but rather a public relations stunt for the sake of making news, and it didn't have a wide public circulation or trigger mass action.


▪️ 關於地產黨的種種詭辯和歪念,有些媒體不指摘的正確概念和見解如下:


1. 紅山半島僭建風波顯示了僭建是一種炒樓的方式。換言之,劏房也是僭建(投機不動產)的範疇內。這意味著僭建的申報制(伴隨針對輕度僭建暫緩執法)在實際上也就是劏房的申報制。從這點也顯示本港哪有「沒有炒風了」的情況?炒樓相當普遍和潛在到迫使港府採取申報制了。

2. 所謂市區重建,絕非慈善的重建,而是高級化(gentrification)。即將舊貧民區小業主們的業權強拍掉之後,將該區改建成塞滿豪華住宅單位的高級住宅區。

3. 本港所謂樓價指數絕大多數都是二手樓的,也受制於每家地產代理商(中原地產,美聯,利嘉閣)的市場佔有率。再加上,本港有了中大最近推出的一手樓樓價指數。因此,反映整體樓市的指標只有差餉物業估價署的。但是,差餉物業估價署的樓價指數根據租金或售價除以有關物業的應課差餉租值所得的因數而得出的,而絕不是純粹根據每平方米樓面面積的租金或售價計算的。為準確的樓價指數則需要看特定樓宇的特定單位的前後成交紀錄來判斷。在此,有關特定樓宇單位,銀行估價(市價)被看重。有一個盲點是,就特定單位,所謂樓價指數的0點代表原初交易時的原價,100%基本上代表二次交易時以一倍的價格出售了。不過,樓價指數跌到零也仍然有原價本身就是天價的問題。本港樓價指數是樓價歷年累積上升的升幅的總計,因此,連續幾個月紀錄相對跌幅時仍然可累計全年的樓價升幅。地產代理商及其媒體應當如實傳播所有紀錄升幅的交易和紀錄跌幅的交易。基於這個特性,一般而言,成交量增加,所謂樓價指數就會增加,反之亦然。不過,這並不意味著可負擔的樓價水平。「可負擔性即民生」才是本港政治需要的「自住需求優先」價值觀而非市場的資本價值觀(不要大起大落=要超高樓價高企不動)。本港媒體報導,估值論居多,但樓價得失,銀行貸款額只有在做出交易時才能確定。

4. 所謂劣質劏房是個典型的歪念,是因為所有不適切居所都是劣質的。港府目前把深層次矛盾的概念矮化成所謂劣質劏房,而已不再是所有的劏房了,那所謂深層次矛盾就更不是打擊消費,福祉,起業的4高體制(高地價,高樓價,高租金,高物價)了,也不是炒家大軍了,絕不是地產霸權了。目前,炒家的劏房以及不適切居所投機將被賦予牌照的,邁向劏房經營合法化的荒謬階段了。如此,推進不適切居所的合法商品化,深層次矛盾的概念走樣變形了。這個扭曲反映著中港政治及人倫的變形,即繼續塑造炒家天堂。那麼,真正邁向解決房屋問題的則是今年加辣的新加坡,而非減辣的香港。兩者形成了尖銳的對比了。

5. 作為自住需求優先政策,港府推動租借式公屋是矛盾的,而應該大力推動居屋。不過,能最快降低超高樓價的已被八萬五政策證明是公屋。


Regarding the various sophistries and distortions of the real estate party, the correct concepts and opinions not being reported by some media are as follows:

  1. The storm over unauthorized building works (UBWs) in the Redhill Peninsula shows that UBWs are a form of property speculation. In other words, sub-divided units are also within the scope of UBWs (speculative properties). This means that the voluntary self-reporting system for UBWs (together with the suspension of enforcement against minor UBWs) is in effect a reporting system for sub-divided units. This also shows that there is no such thing as "no more speculation" in Hong Kong. Property speculation is so common and so potential that it has forced the Hong Kong Government to adopt a reporting system.

  2. The so-called urban renewal is not charity redevelopment, but gentrification. It is gentrification, i.e., the compulsory sale of properties owned by small property owners in old slums, and then converting them into high-class residential areas filled with luxury residential units to sell which are hopelessly unaffordable for original owners.

  3. Most of the so-called price indices in Hong Kong are for second-hand properties and are subject to the market share of each real estate agent (Centaline Property, Midland, Ricacorp Properties). In addition, Hong Kong has recently launched the CUHK's first-hand property price index. Therefore, the only indicator that reflects the overall property market is that of the Rating and Valuation Department. However, the RVD's property price index is based on a factor of rent or sale price divided by the rateable value of the property concerned and is definitely not based solely on the rent or sale price per square meter of floor area. For an accurate property price index, it is necessary to look at the previous and subsequent transaction records of a particular unit in a particular building to make a judgment. In this case, the bank valuation (market value) of the flat is emphasized. One blind spot is that for a particular flat, the so-called zero point of the price index represents the original price at the time of the original transaction, and 100% basically means that the flat was sold at double the price at the time of the second transaction. However, even if the property price index falls to zero, there is still the problem that the original price itself is sky-high. The Hong Kong Property Price Index is the sum of the cumulative increase in property prices over the years, so a relative drop in a few consecutive months can still add up to a full year's increase in property prices. Real estate agents and their media should truthfully disseminate all transactions that record an increase and those that record a decrease. Due to this characteristic, an increase in the volume of transactions will lead to an increase in the so-called price index, and vice versa. However, this does not mean affordability. "Affordability is the livelihood of the people" is the value that Hong Kong's politics needs to prioritize in terms of "home ownership" rather than the market's capital values (‘no huge ups and downs’ = maintaining super high prices). In the local media, there are mostly valuation theories, but the gain or loss in property price and bank loan amount can only be determined at the time of the transaction.

  4. The so-called sub-divided units of poor quality is a typical misconception because all unsuitable accommodation is of poor quality. The Hong Kong Government has now dwarfed the concept of deep-rooted conflicts into the so-called sub-divided units of poor quality, which are no longer all sub-divided units. Then the so-called deep-rooted conflicts are not the 4-high system (high land prices, high property prices, high rents, and high prices) that has dealt a blow to consumption, well-being, and business, and they are not the army of speculators, and they are not the hegemony of the real estate sector. At present, speculators' sub-divided units and speculation on unsuitable accommodation will be licensed, moving towards the ridiculous stage of legalizing the operation of sub-divided units. In this way, the legalization and commercialization of unsuitable dwellings has led to a distortion of the concept of deep-rooted conflicts. This distortion reflects the political and ethical deformation of Hong Kong and Mainland China, which continues to shape the speculators' paradise. Then, it is Singapore, which has added spice this year, rather than Hong Kong, which has subtracted spice, that is really moving towards solving the housing problem. The two are in sharp contrast.

  5. As a policy of prioritizing the demand for self-occupation, it is contradictory for the Hong Kong government to promote public housing rental, and public HOS should be vigorously promoted instead. However, the fastest way to reduce super-high property prices has been proven by the Government's practice for 85,000 houses to be public housing.

🔻 NEWS / FACTs 【事實關係】



▪️ (11/04/2023)房屋局局長何永賢說,在解決劏房問題上,應先定義何謂劣質劏房,然後想辦法取締,並要防止劣質劏房再增生。何永賢在一個電台節目上表示,在取締和防止劣質劏房增生方面,聽到不同人提出不同意見,當局要細心考慮不同的行政手段,例如是否要有法例配合,現有的《建築物條例》及《消防條例》能夠發揮到多大效用,是否需要再補充。另外,亦會考慮是否需要設立登記制度,以達至防止增生的效果,「解決劏房問題」工作組未來都會研究。


The Secretary for Housing, Winnie Ho, said that in solving the problem of sub-divided units, the Government should first define sub-divided units of substandard quality, and then find ways to eradicate them and prevent them from proliferating. Speaking on a radio program, Ho said that having heard different views from different people on banning and preventing the proliferation of sub-divided units of poor quality, the authorities had to carefully consider different administrative means, for example, whether it was necessary to have legislation to complement the measures, how effective the existing Fire Safety (Buildings) Ordinance could be, and whether there was a need to supplement them. In addition, consideration will also be given to the need for a registration system to prevent the proliferation of sub-divided flats. The Working Group on Sub-divided Flats will study the issue in the future.



▪️(11/03/2023)香港地少人多,各類僭建多如牛毛,正當紅山半島僭建風波引發各界關注、市區僭建又埋伏高空傷人的都市隱憂之際,當局卻疑似反其道而行,正研究暫不處理輕微僭建個案,允許業主申請登記僭建物,疑似「放生」小型僭建物。發展局局長甯漢豪昨就事件解畫,強調此舉是為務實打擊僭建,有助將輕微僭建物記錄在案,其方向與新界現有的豁免申報計劃相同。不過,有測量師認為,市區人多密集,若將新界村屋的豁免做法延伸至市區或有風險,要確認業主是否真正屬「輕微僭建」低風險也有困難;有議員則提醒政府需以風險為本。


Hong Kong is a small and densely populated city with many types of unauthorized building works (UBWs). While the controversy over the UBWs on the Redhill Peninsula has aroused concern from all sectors of the community, and the urban UBWs in the urban areas have posed a hidden problem of injuries from height, the authorities are suspected of going in the opposite direction, and are now exploring the idea of not dealing with minor UBWs for the time being, and allowing owners to register their UBWs, which is suspected to be "letting go" of the minor UBWs. The Secretary for Development, Bernadette Linn, explained the incident yesterday, emphasizing that the move was a pragmatic way to combat UBWs and help record minor UBWs, and that the direction was the same as that of the existing exemption scheme in the New Territories. However, some surveyors considered that as the urban area is densely populated, it might be risky to extend the exemption for village houses in the New Territories to the urban area, and it would be difficult to ascertain whether the owners are genuinely at low risk of "minor UBWs", while some members reminded the Government of the need to adopt a risk-based approach.



▪️(10/30/2023)政府今日發布北部都會區行動綱領,明年或之前會為所有相關新土地發展項目制訂土地用途和發展方案,2027年或之前為主要發展項目啟動收地程序。發展局局長甯漢豪今日在記者會闡述行動綱領內容,指行動綱領列出三個發展區域和一個以旅遊保育為主的區域,未來三年的發展重點,也有專章列出未來十年的主要發展里程碑,以兩個五年區分,呼應本屆政府以結果為目標的施政文化,並成為北部都會區發展的客觀績效指標,讓公眾可以監察政府的工作進度和成效。


The Government today announced the Action Agenda for the Northern Metropolis, under which the Government will formulate land use and development proposals for all new land development projects by next year, and initiate land resumption procedures for major development projects by 2027. Bernadette LINN, Secretary for Development, elaborated on the content of the Action Agenda at a press conference today. She said that the Action Agenda has set out the development priorities for the next three years for the three development areas and one area focusing on tourism and conservation, and there is also a dedicated chapter to set out the major milestones for the next ten years, which is divided into two five-year periods, echoing the result-oriented governance culture of the current-term Government, and will serve as an objective performance indicator for the development of the Northern Metropolis, so as to enable the public to monitor the progress and effectiveness of the Government's work. It will also serve as an objective performance indicator for the development of the Northern Metropolis so that the public can monitor the progress and effectiveness of the government.



▪️ (10/28/2023)據港媒26日報道,《施政報告》公佈「減辣」後,向來備受內地客追捧的九龍站實時受惠,有房產工作人員透露接到10組內地客查詢。有分析認為,除了「辣招」影響香港樓市外,還有其他一些因素,比如租金回報率。此外,土地開發數量也非常重要,香港公屋數量不夠,持有閒置土地的地產發展商沒有動力建造公屋。


According to a Hong Kong media report on the 26th, after the Policy Address announced the "spicy reduction", the Kowloon Station, which has always been highly sought after by mainlanders, has benefited in real time, with some real estate staff revealing that they have received 10 groups of enquiries from mainlanders. Some analysts believe that apart from the impact of the "spicy measures" on Hong Kong's property market, there are also other factors, such as the rate of rental return. In addition, the amount of land development is also very important. There are not enough public housing units in Hong Kong, and real estate developers holding idle land have no incentive to build public housing units.



▪️(10/07/2023)過去35年港整體樓價升幅1305% 大學生置業能力每況愈下: 新青年論壇今(7日)公布《香港各世代大學學歷勞工住屋承擔能力研究報告》,數據顯示,對比1987年及2022年的35年間,香港整體樓價指數升幅達1305.7%,大幅拋離通脹升幅的221.8%,而租金升幅則相對溫和,為279.4%。


Over the past 35 years, Hong Kong's overall property prices have risen by 1305%. University students' home buying ability is deteriorating: New Youth Forum today (7th) announced "Hong Kong's various generations of university-educated workers housing affordability research report". The data show that, compared to 1987 and 2022 in the 35-year period, Hong Kong's overall property price index rose by 1305.7%, a significant deviation from the rate of increase of 221.8% of the rate of inflation, and the rate of increase in rents. On the other hand, the increase in rent is relatively moderate at 279.4%.



▪️(7/17/2023)北部都會區發展成為鄉黑吸血商機,東網近日接獲讀者爆料,指具政府背景人士及地區官員、鄉紳、前政協及黑幫人士得悉發展計劃後均虎視眈眈,密謀在發展區範圍擬建假墳、魚塘和寮屋,霸地自肥,博政府收地騙取賠償。據了解,已有4至5個黑幫蠢蠢欲動,不擇手段爭地盤分一杯羹。事件被踢爆後,土地監察組織批評政府土地規劃失當,未有杜絕炒賣土地、投機及違法違規亂象。


The development of the Northern Metropolis has become a business opportunity for rural triads to suck blood. Recently, the Oriental Daily News has received reports from readers that people with government backgrounds and local officials, rural gentry, former CPPCC members and triads are all eyeing the development plan after learning about it, and they are plotting to build fake graves, fish ponds and squatters in the area of the development area, so as to monopolize the land for their own enrichment, and to win the government's resumption of the land to cheat for compensation. It is understood that there are already four to five triad gangs which are eager to get a share of the land by hook or by crook. After the incident was exposed, a land monitoring organization criticized the government for improper land planning and failing to eliminate land speculation, speculation in general and irregularities.



▪️ (4/28/2023)新加坡政府昨日宣布加大樓市調控措施力度,將新加坡公民購第二個或以上住宅單位,以及外國人及公司買樓的額外買家印花稅(ABSD)稅率上調,其中外國買家支付的ABSD「加辣」幅度最大,由30%一律調升至60%。當局強調此舉旨在為當地樓市降溫,促進可持續的房地產市場。


「民眾購買自住房屋需求強勁,投資人對新加坡房地產市場亦重燃興趣,若不加強管控,樓價可能超越經濟基本面,帶來樓價相對於收入持續增長的風險。」


The Singapore government announced yesterday that it is stepping up its efforts to regulate the property market by increasing the Additional Buyer's Stamp Duty (ABSD) rates for Singapore citizens purchasing a second or more residential units, as well as for foreign nationals and corporations, with foreign buyers paying the highest rate of "spice" on their ABSD payments, which has been adjusted upwards from 30% to 60% across-the-board. The authorities emphasized that this is aimed at cooling down the local property market and promoting a sustainable real estate market.


"With strong demand for owner-occupied homes and renewed investor interest in Singapore's property market, there is a risk that property prices could outpace economic fundamentals and continue to grow relative to incomes if they are not tightened up".



🔻 COMMENT 【評語】


一言以蔽之,繼續塑造炒家天堂是當前的香港政治經濟的趨勢了。減辣,撤辣是為了北部都會區的炒地炒樓,只會讓港府收地賠償困難。不但「沒有炒風(炒樓)」= 沒有超高樓價是個公然的謊話,劣質劏房的歪念也體現了深層次矛盾的概念走樣變形了,被既得利益朋黨大聯盟矮化了。炒樓就是指超高樓價,超高樓價也就是指炒樓炒風,炒家橫行霸道的鐵證。所謂深層次矛盾本來則是指地產霸權建立的打擊和吸乾大眾消費,福祉,起業成本的4高體制(高地價,高樓價,高租金,高物價),而不適切居所問題乃其衍生物,而非原因。誠然,減辣,撤辣與解決深層次矛盾背道而馳。炒家天堂將會是政治更不穩定,促進移民潮的社會狀態,過了4年,與外部勢力攜手並肩,改採與病毒共存的所謂復常遠不如期,於是本港統治階級中的進步部分也拋棄了反修例事件的教訓和真改革的初衷。其實,對地產黨而言,北部都會區的意思是賺盡巨額收地賠償金的大餅。而北部都會區本身恐將照樣淪為「不動產項目」。最終,施政報告為此否定掉了「自住需求優先」價值觀


In a nutshell, it is the current political and economic trend of Hong Kong to continue to shape the speculators' paradise. Reducing and withdrawing the spices - anti-speculation taxes - for the sake of land and property speculation in the Northern Metropolis will only make it difficult for the Hong Kong Government to resume land for compensation. Not only is it a blatant lie that "there is no speculation" = no super-high property prices, but the distorted notion of sub-divided flats is also a manifestation of a deep-rooted contradiction in concepts that have been deformed and belittled by the crony coalition of vested interests. Property speculation means ultra-high property prices, and ultra-high property prices also mean property speculation, which is hard evidence of the tyranny of speculators. The so-called deep-rooted conflicts originally refer to the 4-high system (high land prices, high property prices, high rents, high commodity prices) established by the real estate oligarchy to undermine and dry up the costs of public consumption, well-being, and starting up a business, and the problem of inappropriate accommodation is a derivative rather than a cause of it.

Admittedly, the reduction and withdrawal of spices - anti-speculation taxes - is contrary to solving the deep-rooted conflicts. The speculators' paradise will be a more politically unstable social state that promotes immigration. After four years of working hand in hand with external forces, and China’s forced shift to co-existence with viruses, the so-called recovery is far from being realized, and the progressive part of Hong Kong's ruling class has abandoned the lesson of the anti-extradition amendment bill incident and the original intention of genuine reform. In fact, to the real estate party, the Northern Metropolis is meant to be a big pie to maximize compensation for land resumption. The Northern Metropolitans itself is likely to be reduced to a "real estate project" as usual. In the end, the policy address has negated the value of "prioritizing the demand for self-occupation of housing".


Hong Kong Intelligence Report #106 反自住需求優先政策的香港統治階級續造炒家天堂

 

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