Posted by
OffThePeak
11 yrs ago
Henderson Land considers building HK$1mn flats
(story in today's SCMP)
Chairman SK Lee is considering building $1 million flats in the NT - but he needs the government to waive the Land premiums, so he can build on (cheap) abandoned farmland. (Hey, where's the food going to come from in HK's future?)
Meantime, his company is now selling 286 - 433 sf flats at more than HK$22,000 per sf, net. So one wonders how large these $1 mn flats will be.
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smaller that this:
http://cdn.freshome.com/wp-content/uploads/2010/07/very-tiny-loft-studio-design-3-554x436.jpg
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Hrm. Where is that picture from?
Also, I wonder if lofts are really more 'space' efficient for a developer.. Because, they won't be able to build as many floors in their building, so less units.. but more units on each floor.. etc. Maybe I'm oversimplifying the problem, but if you have a 3x3 cube, the volume of it is the same so whatever space you use inside.. will be the same..
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OTP. This is a smart move by Mr Lee. He is basically saying to the government, "We can build cheap flats as long as we don't give you any revenue." Ha, ha.
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Right.
The loft solution may not work when you have height restrictions.
The usual HK compromise is a "bunk-bed solution"
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I like those shippin container homes they have in Amsterdam. I'm sure they could figure out a cooling mechanism. Problem is, it might make the problem too easy to solve thereby offending some civil servant.
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Haha.
Maybe that's Henderson's plan:
To stack up "Housing" containers in an Industrial warehouse and call them $1mn flats
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If this can only work by waiving the land premium, then they will have to impose restrictions similar to some the exisiting subsidy schemes whereby only people meeting low income/asset tests are eligible to buy AND that the premium (+ interest?) becomes payable on any sale or leasing out.
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Some reports mention that this 1M home Uncle Four is dangling is at 300sqf. Although it is something that is better than having none at all, the idea that HK people will accept it as normal is damning. People shouldn't buy properties that are so small that having a normal living environment in it is impossible. If people don't buy these kind of properties, developers will not build them...
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Are people better off living in sub-divided properties?
I don't think so. They are unsafe and illegal
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