Property Bubble
百萬二手公屋湧現 樓市泡沫愈吹愈大
文章日期:2010年3月30日

雙語社評齊齊聽

英語 (足本收聽)

普通話 (足本收聽)

【明報專訊】LUXURY flat, quality private flat and HOS flat prices have repeatedly made new highs, and speculation has grown in second-hand public housing units. Their transaction prices have kept going up. It is now nothing extraordinary for such a flat to fetch more than $1 million. That shows the property bubble is inflating. Speculators are playing "passing the lighted torch". If the bubble bursts and speculators make losses, they have only themselves to blame. Our hearts go out to users, who need housing and cannot but be burdened with big mortgages because property prices are high. We always believe that, as it has a duty to ensure the property market's healthy development, the government should resume control over land supply. It should try to ensure the property market's steady development by increasing land supply and producing a suitable amount of Home Ownership Scheme (HOS) flats.


英語

繼豪宅、名牌屋苑、二手居屋樓價迭創新高之後,二手公屋炒風亦不甘後人,成交價持續攀升,百萬元身價二手公屋已是尋常事。說明樓市泡沫愈吹愈大,炒家正在進行傳火棒遊戲,若泡沫爆破,炒家蒙受損失,那是他們的事,最值得同情者是用家基於實際居住需要,被迫高價買樓,孭負沉重債項。我們始終認為讓樓市健康發展是政府的責任,因此政府應該掌握土地供應的主導權,從增加供應土地入手,並復建適量居屋,保持樓市穩定發展。


普通話

Speculation in second-hand public housing units became rife last August or September, when Chief Executive Donald Tsang had yet to deliver his policy address (which he did last October). It was already clear then that it was wrong to say speculation in luxury flats had nothing to do with ordinary citizens. His ignorance of the reality is shocking. Now new flats in Yuen Long cost $6,000 a square foot. Not long ago, an HOS flat in Tung Yuk Court, Shau Kei Wan, changed hands for nearly $6,000 a square foot. The price of a second-hand public housing unit is now approaching $2 million. High prices of luxury flats have already caused all sorts of flats to become more expensive. A bubble has taken shape and is inflating. Hong Kong Monetary Authority Chief Executive Norman Chan said not long ago, "Once it is formed, an asset bubble will display great power itself." What has happened in the property market lends support to this proposition.


英語

二手公屋近期炒風,始於去年八九月,也就是行政長官曾蔭權10月發表施政報告之前,他當時所謂「豪宅炒賣不影響一般市民」的謬誤,其實已顯現出來,說明他昧於實際之程度,使人震驚。如今,元朗新樓賣到呎價6000元,筲箕灣居屋東旭苑有單位以接近呎價6000元易手,二手公屋向着200萬元邁進,高樓價的「滴漏效應」由豪宅帶動,已經使各個檔次的樓價全面水漲船高,形成泡沫並迅速脹大。正如金管局總裁陳德霖近期說過,「當資產泡沫一旦形成,它自身會出現很大的動力」,本港樓市泡沫,正在實現這個論斷。


普通話

There is growing concern about the overheating of the property market and exorbitant property prices. Henry Cheng, managing director of New World Development, a major developer, has said there is a big problem because property prices are going up so wildly that many ordinary citizens will remain "shell-less". In his view, until this problem is solved, resentment will grow to the detriment of social stability and harmony. He thinks the government should try to solve the problem by reviving the HOS and resuming regular land auctions. Vincent Lo, chairman of Shui On Group, another developer, agrees that the HOS should be revived.


英語

近日,社會上擔心樓市過熱、樓價過高的聲音愈來愈多,例如本港主要地產發展商之一、新世界集團的董事總經理鄭家純也表示,樓價狂升,小市民繼續做無殼蝸牛,他擔心這個矛盾一日不解,社會怨氣會愈積愈多,威脅到社會穩定和諧。鄭家純認為解決樓市問題可從兩方面入手,一是復建居屋,二是恢復定期賣地。另一名發展商、瑞安集團主席羅康瑞亦贊成復建居屋。


普通話

Some bankers share their views. Chairman of HSBC Bank (China) Vincent Cheng has said it is so hard for young people to buy their own homes that, if the government does nothing, public resentment will grow, and society will become more and more divided. In his opinion, the government should revive the HOS to give young people hope, and it is not right for middle-class citizens to have to use most of their incomes to repay their mortgages. Vice chairman of Heng Seng Bank Margaret Leung says that, there being a supply-demand imbalance in the property market, it would conduce to social harmony for the government to produce HOS or low-price housing. Chairman of the Bank of East Asia David Li agrees that the HOS should be revived.


英語

至於銀行界,匯豐中國董事長鄭海泉認為年輕人置業難,若政府不做些事,將來社會的分化或對社會的不滿會愈來愈多;他認為要讓年輕人有希望,政府應復建居屋,又指出任由中產把大部分收入用來供樓,也是不應該的。恒生銀行副董事長梁高美懿則認為,樓市存在供應失衡問題,政府可興建居屋或低價樓宇,有助社會和諧。另外,東亞銀行主席李國寶也贊成復建居屋。


普通話

So far the government has only reiterated, "The decision the government made to pull out of the HOS market is a grave one. Now we will not lightly return to the housing market." The decision to stop producing HOS flats is of course a grave one, but it is another matter whether it was made after careful consideration. With the benefit of hindsight, one may say it was made rashly.


英語

政府方面對這個問題,仍是重申「當年政府決定退出居屋市場是一個重大決定,今天不會輕率重投住宅市場」的說法。停建居屋的決定,當然重大,但是這個決定是否經過深思熟慮,乃另一回事,現在回顧起來,這是一個輕率的決定。


普通話

We have urged that the government resume land auctions and revive the HOS not because we want property prices to slump. Henry Cheng, Vincent Lo, Vincent Cheng and Margaret Leung have made similar suggestions, and we are sure none of them wants property prices to slump. They know what is wrong with the property market and are convinced that the problem cannot be solved otherwise than by increasing land and flat supply.


英語

過去一段日子,我們一直建議政府恢復定期或不定期賣地,復建居屋,並非要「推冧」樓市;現在鄭家純、羅康瑞、鄭海泉、梁高美懿、李國寶等人的建議,肯定也不是要「推冧」樓市,他們只是看到樓市根本問題所在,必須從增加供應(包括土地和樓宇)才可以解決。


普通話

The situation is clear. It is neither complicated nor hard to tackle. If the government takes sensible, suitable measures, the property market will in all probability have a soft landing. It is a grave question whether the government should revive the HOS. In our view, it should not be allowed to put the public off with the two sentences. If it has decided not to revive the HOS, it must give the public a better reason. If the decision has been made by a decision-maker regardless of citizens' needs and public sentiment, it may well be wrong and ought to be re-examined.


英語

情况是清楚的、問題也不複雜、做起來亦不困難,只要合情合理,處置得宜,則樓市之軟着陸完全有可能。我們認為,居屋繼續停建或復建,事關重大,政府不能單憑那兩句說法就搪塞過去,如果政府堅決繼續停建居屋,應該以更有力理據說服市民;如果繼續停建居屋只是個別決策人昧於實際需要和民情的決定,則更值得商榷和不應該了。


普通話

明報社評 2010.03.10

Presented by lecturers of Hong Kong Community College, PolyU and The Hong Kong Polytechnic University

Miss Zoe Lam

Lecturer, Hong Kong Community College, PolyU

http://www.hkcc-polyu.edu.hk/index.php?lang=eng&cms=929

趙咏冰博士

香港專上學院講師

http://www.hkcc-polyu.edu.hk/index.php?cms=129&lang=big5

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