Government Should Resume Control Of Land Supply
給泡沫泄氣減爆破損害 主導土地供應復建居屋
文章日期:2010年9月22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】YESTERDAY a site in Ede Road fetched $16,587 a square foot, a new high in Kowloon. The price is way higher than market participants expected. Flour is again costlier than bread.

英語

昨日義德道土地成交價創九龍區新高,呎價達16,587元,遠超市場預期,而「麵粉再一次貴過麵包」。

樓市泡沫形成,政府採取任何措施,都有投鼠忌器的顧慮,特別是歷經「八萬五」的行政長官曾蔭權更有一個心魔,認為一旦調整土地政策,若適逢經濟景氣轉變,導致樓價顯著下跌,則政府就會蒙上推冧樓市的罪名,因此一直未採取有效措施應對,以致泡沫脹大,使本港處於進退維谷困境。

普通話

A property bubble having taken shape, the government would hesitate to take any measure for fear of damaging the economy. Chief Executive (CE) Donald Tsang, who witnessed the "85,000 flats a year" episode, is obsessed with the idea that the government will be considered guilty of causing the property market to collapse if, after it has altered its land policy, the economy happens to turn down and property prices fall sharply. The government has therefore refrained from taking effective measures and, as a result, the property bubble has kept swelling and Hong Kong is now on the horns of a dilemma.

英語

It is thanks to the government's policy of relying on the application list system that Hong Kong's property market is distorted. The government surrendered the right to control land supply to developers on the grounds that it should take a market-driven approach. It did not readjust its policy until Financial Secretary John Tsang made his Budget speech last March. It then put in place what is called an optimised application list mechanism, under which the government would put land up for auction on its own initiative.

英語

目前本港樓市扭曲,源於勾地政策,政府以市場主導為由,把土地供應權拱手讓給發展商。今年3月,財政司長曾俊華發表財政預算案時才修訂政策,實施所謂優化勾地表機制,由政府主動推出一些土地拍賣。

普通話

On August 13, John Tsang introduced nine other measures. They are aimed at doing four things and, primarily, increasing land supply. That day he announced the government would put three sites for producing small and medium flats up for auction. It counts as much cry to sell three sites on its own initiative. However, on them only 540 flats can be produced. Small and medium flats are in such short supply that the move is as ineffective as to try to put out a burning cartload of faggots with a cup of water. It does not help matters.

英語

8月13日,曾俊華推出的新9招,有4個主要方向,其中以增加土地供應居首,當日曾俊華宣布政府再主動推出3幅土地拍賣,發展中小型單位。拍賣3幅地算是雷聲大了,但是只能提供540個單位,與中小型單位嚴重短缺相比,此舉只是杯水車薪,無補於事。

普通話

Seeing mainland tycoons are big spenders, developers vie with one another to produce luxury flats. Last month, they fiercely bid against one another for sites for luxury developments. However, tenders for a Nam Cheong Station site and that for Phase 4 of LOHAS Park (both for producing small and medium flats) were withdrawn. That precisely shows what is wrong with allowing developers to control the property market. It is right and proper for them to seek profits. However, small and medium flats are in short supply because of their "interest". The government must not just sit back and watch without doing anything.

英語

發展商看到內地富豪購買力強大,一窩蜂興建豪宅,例如上月和昨日拍賣的豪宅用地,發展商競爭激烈,但是主要提供中小型單位的港鐵南昌站上蓋和日出康城四期,都先後流標。這個情况,正好暴露了樓市由發展商主導之弊。發展商追逐利潤,理所當然,但是他們的「興趣」卻使中小型單位出現斷層,作為政府,不應該坐視不理。

普通話

Owing to the linked exchange rate system, there is little the government can do about ultra-low interest rates. Nevertheless, it ought to do what is within its control about the property bubble. The Tsang administration must not entertain the idea of ensuring it will not burst during its term and leaving it to its successor to deal with the mess. In our view, CE Donald Tsang must announce short-, mid- and long-term measures about the property market and land supply when he delivers his next policy address next month. He should earnestly discharge the responsibilities he has as CE.

英語

基於聯繫匯率,政府不能改變超低息環境,不過,對於應付樓市泡沫,政府在可控制範圍內,仍應該有所作為。曾蔭權政府不應有只要泡沫在今屆政府任內不爆破,「蘇州屎」就留給下屆政府處理之想。我們認為,曾蔭權下月發表《施政報告》時,要拿出短期和中長期應對樓市和樓宇供應的政策措施,負起切實管治的責任。

普通話

In the short term, the government should allow the property bubble to release steam to reduce the danger of it bursting. For example, to curb speculation and cool the property market, it should raise stamp duty (not only on luxury flats) and even impose a value added tax. We have to stress that such measures are not aimed at causing property prices to plunge. The purpose of taking them is to curb speculation, thereby preventing property prices from roller-coastering.

英語

短期措施方面,政府應該使樓市泡沫泄一點氣,以紓緩爆破的危機,例如增加印花稅(不限於豪宅)、甚而徵收增值稅等,打擊炒家,冷卻樓市。我們要強調的是,有關措施絕非要樓價大幅下跌,只為遏抑炒風,使樓市不致出現暴升暴跌的惡性循環。

普通話

The government should at least do the following four things in the mid- and long-term.

(1) It should resume control of land supply and put up land for auction regularly in the light of demand.

(2) It should formulate its mid- and long-term housing strategy.

(3) The government and, in particular, Donald Tsang must abandon their prejudices against the HOS (Home Ownership Scheme) policy, which has proved quite effective. The government should produce suitable amounts of HOS houing (for example, 5,000 flats a year) to help ease sandwich-class citizens' housing problems.

(4) It should speed up its infrastructure projects and make plans for building residential areas and even new towns in the vast tracts of land in northern Lantau and along the border.

英語

中長期方面,至少有以下4件事要做:

(1)政府要重新掌握土地供應,按實際需求,推出土地拍賣。

(2)政府要制訂長遠房屋發展策略。

(3)居屋政策已經被證明行之有效,政府、特別是曾蔭權應該摒棄成見,每年恢復興建適當數量居屋單位(例如5000個),以紓緩夾心階層的居住困境。

(4)政府應該開展規劃,加快基建,例如在大嶼山北部和邊境的大片土地,規劃新發展區甚至是新市鎮。

普通話

明報社評 2010.09.01

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

William Tsang, Senior Lecturer, Hong Kong Community College

http://www.hkcc-polyu.edu.hk/index.php?lang=eng&cms=112

袁振華博士,香港理工大學中文及雙語系講師

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