Poll reveals housing should top govt agenda

The latest survey of the Public Opinion Programme (POP) at the University of Hong Kong reveals that 88 percent of respondents believe that the housing problem in the city is either "very important" or "quite important" - the highest of any category.

The survey, which asked people about the most important priorities for the government ahead of the Policy Address tomorrow, was conducted in late September and early October. With a sample size of 1,014, the poll was conducted by personal interviewers by means of random telephone surveys.

However, soaring prices in the property market show no real signs of abating. As an example, the number of secondary home sales in 10 of the city's biggest private housing estates this past weekend - including Tai Koo Shing on Hong Kong Island and Mei Foo Sun Chuen in Kowloon - jumped 79 percent compared with the previous weekend, according to figures from Centaline Property Agency.

Also, local blue chip developer Sun Hung Kai Properties Ltd sold a total of 250 apartments in 10 days since it launched its Valais project at Sheng Shui in the New Territories. It has generated more than HK$8 billion in sales, according to a Bloomberg report, which added that the developer plans to put 20 more homes on sale this week with selling prices 3 to 5 percent higher.

Meanwhile, Centaline managing director Louis Chan says that the increase of sales in the primary market has boosted confidence in the secondary market. Nor does he feel that the government will take harsh measures to cool down the property sector.

"There is a huge influx of capital into the local property market," Chan said. "Thus we believe that property transactions in the secondary market will remain buoyant this month."

However, Chief Executive Donald Tsang is expected to unveil some measures to cool down the city's soaring property prices during the government's Policy Address.

China Daily

(HK Edition 10/12/2010 page2)