Mui Wo property prices are set to rise sharply, a senior Hong Kong real estate figure predicts.
Kam Hung-yu, a Hong Kong managing director at global estate giant CBRE and a former president of of the Hong Kong Institute of Surveyors, predicts a major hike in residential valuations.
Writing in the Economic Journal he says the Housing Authority will start selling its new Mui Wo apartments in August. Mui Wo prices currently are at around $7000-$8000 psf, but after subsidies this will fall to as low as HK$5000.
“Some Hong Kong people believe the location is not attractive because it is too far [from the city],” he wrote. But he says citizens who qualify for the HA ‘green form’ subsidy should genuinely consider it. “This most likely is a housing market with very strong potential to rise in value,” he wrote. Continue reading
A classic case of cognitive dissonance: a think tank calls for preservation of South Lantau’s natural heritage, yet also urges construction of the East Lantau Metropolis (ELM).
A report by Tung Chee-wah’s Our Hong Kong Foundation on the city’s land supply says Hong Kong has had no major land development for more than a decade and the focus now should be on Lantau.
Like the government-appointed LanDAC commitee, it’s an enthusiast about Lantau’s economic potential because of its location at the centre of the Pearl River Delta.
The Hong Kong-Zhuhai-Macao Bridge (HZMB) project has caused a drastic fall in dolphin numbers in the past year – and worse could be to come, says conservation group WWF.
The AFCD’s annual dolphin tracking report shows that the dolphin population in Lantau waters has fallen 60% to just 65. Continue reading
The East Lantau Metropolis (ELM) will require reclamation of around 1000 hectares in Hong Kong central waters, activists have calculated.
That is equivalent to roughly 1,000 rugby fields and compares with the 1,200 ha Chek Lap Kok Airport and the 130 ha artificial island for the Hong Kong-Macau Bridge landing zone.
If there’s one thing Lantau’s rural representatives agree on it’s roads.
They are urging construction of two roads in particular: a northwest coastal road from Tung Chung to Tai O, and a north-south link from Pak Mong, just east of Tung Chung, to Mui Wo.
The coastal road was canvassed in the early LanDAC plans – as was a road from Tai O to Fan Lau – but was rejected, either for reasons for cost or conservation. The north coast, which hosts villages such as San Tau and Sha Lo Wan, includes coastal wetlands and natural streams and habitat for butterflies and diverse rare species.
Randy Yu, Islands District Council vice-chairman and newly-elected member for South Lantau, complained that “authorities have never thought about a long-term transport strategy” for Lantau. Continue reading
This blog has finally got around to trawling through the submissions to the LegCo hearing on Lantau development in April. First up: environmental groups warn the government’s development programme will lead to “uncontrollable eco-vandalisms” because of the lack of zoning protections and weak enforcement.
In a joint submission, five green NGOs say they are “deeply concerned” by the development-centric model that does not provide adequate protection for important conservation sites.
However, the deficiency in enforcement capabilities due to loopholes in existing legislation has rendered Lantau vulnerable to environmental vandalism.
Zhang Dejiang’s short visit (or inspection) has told us that Lantau is not just a big deal in Hong Kong. It’s a pretty big deal in Beijing, and an even bigger deal for CY Leung’s reelection (or ‘reelection’) strategy.
The Development Bureau was the first place on Zhang’s official agenda, which soon became well-known to Hong Kong thanks to this photograph of the VIP inspecting this hefty 3D visualisation of the Lantau plans: