〈Asian Post, May 26, 2018〉In the great public debate on government proposals to increase housing supply, one important principle of the Hong Kong economy has been glossed over, or even trampled on. That principle is respect and protection of private property.

At issue is the proposal to convert big tracts of farmland owned by some of the largest property developers into housing development. The government has floated the idea of cooperation with these developers to build public housing on parts of these lands.

In fact, there is nothing new about such arrangements. The government had in the past worked with private developers in developing land for public housing. Such joint ventures can help simplify and speed up the construction process for the government.

But in this politically charged environment, a sound idea that was proven repeatedly to have worked for the benefit of the public has been senselessly attacked by populist politicians and social activists as a conspiracy of collusion between the government and powerful business interests.

Of course, such charges are groundless as they were made even before the terms of cooperation have been proposed. The government has reiterated that no concession will be made on the cost of land-use conversion.

Some social activist groups have called on the government to use a provision in the law that empowers it to acquire land from private owners. But the law states quite clearly that the government must justify such a move with convincing evidence of public interest.

〈China Daily, May 25, 2018〉Sun Hung Kai Properties (0016) said yesterday it had sold 20 homes at Victoria Harbour in North Point for a total of HK$2 billion.

SHKP said the homes were sold at prices ranging from HK$50 million to HK$100 million, adding that it will launch the pre-sales of smaller apartments in the towers in the third quarter of the year.

The luxury project provide 355 apartments in five towers, ranging from 300-square-foot studios to 1,600-sq-ft four bedroom apartments.

The development is located near North Point Ferry Pier and bus terminus, on the site of the former North Point Estate, the Eastern District's largest public housing estate that comprised seven 11-story blocks with a total of 1,956 flats.

Deputy managing director Victor Lui Ting said that SHKP may also launch the pre-sales of its residential project in St.Martin in Tai Po in July.

Meanwhile, K. Wah International Holdings (0173) launched the price list for 225 apartments in Solaria in Tai Po. The first batch is priced from HK$5.66 million to HK$17.1 million, with an average price of HK$20,242 per sq ft.

K. Wah said the smallest 250-sq-ft studio flats costs around HK$46.1 million, or HK$18,460 per sq ft after discounts.

Home prices in Hong Kong are expected to rise in a slower pace as the United States has raised interest rates for several times, and local banks will eventually follow, said Wong Tsz Wa, managing director at Midland Holdings .

〈The Standard, May 25, 2018〉Wheelock Properties said yesterday it has updated the price list of Island Residence project in Shau Kei Wan, with an average price of HK$28,466 per square foot after certain discounts.

The latest batch comprises apartments in sizes ranging from 272 sq ft to 393 sq ft, and priced between HK$26,491 and HK$30,192 per sq ft.

In Ho Man Tin, Wheelock revealed the price list for 55 apartments from its latest residential project One Homantin.

The latest batch has 55 flats, sized at 405 sq ft to 1,564 sq ft, and priced from HK$10.57 million to HK$64.2 million, or HK$23,732 to HK$41,065 per sq ft.

Meanwhile, local developer HKR International (0480) yesterday issued a profit alert for the year ended March 31, 2018, in which it expects net profits to rise by approximately 170 to 190 percent over the previous year.

The increase was primarily due to the net gain on disposal of an office floor in Shun Tak Centre in Sheung Wan in September last year, as well as the revaluation surpluses on the group's investment properties.

Also yesterday, commercial property company Goodman Group said it plans to develop a modern logistics facility on its Tuen Mun site acquired earlier, which is "capable of accommodating the latest advancements in automation and robotics rarely seen in Hong Kong."

The project, located in close proximity to the new Tuen Mun-Chek Lap Kok Link, is expected to have an on-completion value in excess of US$750 million (HK$5.8 billion), said Kristoffer Harvey, chief executive, Greater China of Goodman.

〈The Standard, May 24, 2018〉Former financial secretary Antony Leung Kam-chung has suggested turning some country parks with low conservation value into residential land for grassroots young adults.

"To be honest, some of the parks are not very beautiful, especially those on the peripheries," Leung said in an interview with Our Hong Kong Foundation. "These places also have great public transport connections."

He said it is unfair to "leave all that land to the sun" while Hong Kong residents could hardly afford a decent place to live.

Leung cited a fresh university graduate as an example. If the young adult earns HK$10,000 a month, he or she needs to save for 20 to 30 years just for the downpayment. And after that, it's another 30 years to pay back the mortgage loan.

"And how big will the apartment be? About 400 square feet. If I were a young adult I would feel so miserable."

About 7 percent of land in Hong Kong is used for residential properties while more than 60 percent is green areas and country parks.

Leung said some parks need to stay. "I like going to country parks. Some of them have extraordinary views. for example, Sai Kung is a place [which should be left as is]. There are not so many places like this in Hong Kong - near the city but having beautiful mountains and water."

As the chairman of developer Nan Fung Group, Leung said it is not necessary that reclaimed land is sold to developers. Public housing can kick in as well. Public housing can help grassroots young adults as well as attract talent to Hong Kong, he added.

〈Asian Post, May 23, 2018〉Developers are raising the prices of their unsold flats by as much as 70 per cent, in a sign that the world's hottest property market is a long way from running out of steam.

Kerry Properties has priced a flat at the Bloomsway in Tuen Mun at HK$16.14 million, or HK$18,724 per square foot, up 68 per cent from two years ago, while a 964 sq ft unit at K Wah International Holdings' K City, in Kai Tak, has increased 13 per cent from when the project first went on the market in March last year.

Analysts said the surge had been fuelled by a recent land auction which fetched HK$25.16 billion, a record price for a residential plot.

Sun Hung Kai Properties paid HK$17,776 per square foot for the parcel in Kai Tak, the site of the city's former airport, which means a housing complex built on the site may fetch at least HK$32,000 per square foot.

"We call it a benchmark impact, and it is based on the location, the large size of the plot and the developer," said Sammy Po Siu-ming, the chief executive of the residential division at Midland Realty.

"It is not a mainland company making a bid, which would have raised doubt about whether it is just speculation.

"It is Sun Hung Kai, a traditional, big local developer. People think Sun Hung Kai's big investment means the company believes that the city's property prices will continue to increase."

Records on the government's website show 23 developers have either released new flats for sale or revised the prices of the ones already on the market since May 15, when the Kai Tak land sale took place.

Two of the projects are in Kai Tak. Wheelock's Oasis Kai Tak issued a new price list for 76 flats on May 21, while K Wah updated the prices of 56 flats at K City on May 16.