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Stop subsidising the rich with cheap land rents

20 0 0

Hong Kong’s high rents, it seems, are only for ordinary people. If you are very rich, it could be extremely cheap, not relatively, but in absolute dollar terms.

After years of criticism, the Lands Department has finally released records of short-term leases of public land. There are 5,407 cases, taking up 2,458 hectares. Aren’t we supposed to be short of land for housing? In any case, they make for extremely instructive reading.

Among those who rent public land are some of the city’s best known tycoons and their children, as well as wealthy politicians. Since the department only publishes the addresses but not personal details, their identities have to be, to some extent, guesswork.

Many lease the land surrounding their already considerable estates to........

© South China Morning Post