The situation is Hong Kong is totally different. Since most people live in highrises, and only big land developers can afford to buy a piece of land for building. It gives people the impression that the big developers control the market.
Here in Vancouver, you can buy a piece of land and build your own house, if you can afford.
peter236 發表於 2010-4-29 13:07 
Gesh... if you don't know squat, shut your trap and don't mislead other people la. After 老懵懂 destroyed the housing market with his 85000 housing policy, the HKSAR government has suspended building new public housing. On top of that, the government completely controls the amount of "new" land that is available to developers, and they have been intentionally keeping the supply low to maintain high real estate property prices.
At this point, even some of the property developers are realizing that the trend of no affordable / public housing is doomed to fail. At least one of the developers (don't remember which one, but it might be 新鴻基) have suggested the SAR government to re-start the building of public housing projects.
The harsh reality is, a typical working-class person in Vancouver can still afford to buy real estate property, although chances are, the unit will be a smaller apartment / condo / townhouse that is a little further away from the city centers. This is clearly reflected in the robust housing market that we've seen since Q1 of 2009. On the other hand, a typical working class person in HK has very little chance of buying themselves a flat because prices are sky high.
-Lik |