The government's recent proposal to lower the threshold that would trigger the compulsory sale of old buildings has raised concerns among subdivided flat residents. The move, aimed at facilitating redevelopment projects, could affect thousands of families living in such flats who may find themselves displaced without adequate time or resources to secure alternative housing.
Under the current system, a majority ownership of 80% is required before a building can be compulsorily sold for redevelopment. The proposed change would see this figure lowered, making it easier for developers and majority owners to push through with their plans. While this may speed up urban renewal efforts, it also raises questions about how best to balance these goals with the rights and needs of minority property owners and tenants.
Samantha Leung, a subdivided flat resident in an aging building fears potential displacement due to the lowering of threshold. "We know our building needs renovation but we never thought we might lose our home altogether," she said.
Harry Wong, a property expert suggests that rather than implementing drastic changes immediately; there should be phased reductions in thresholds over several years allowing all parties involved – including minority owners and tenants – ample opportunity to adapt or relocate as needed. This progressive approach could help strike a balance between speeding up development projects while safeguarding people's livelihoods.
Professor Michael Cheng from University School of Urban Planning & Development agrees on adopting a more gradual approach: "A sudden drop in the threshold will not only displace many vulnerable citizens but also potentially lead them towards homelessness as they struggle against market forces." He further emphasizes on listening closely to affected communities' voices during policy formulation process.
Tenant advocacy groups have called upon policymakers not only considering lowering thresholds but also providing comprehensive support measures like affordable housing options or financial assistance programs ensuring no one falls through cracks when policies change.
Simon Chan from Hong Kong Tenants Union highlights the need for government to prioritize support measures: "While redevelopment is important, it's essential that we have a safety net in place to protect vulnerable tenants who may be forced out of their homes."
The proposal has sparked an ongoing debate among lawmakers, property experts and tenant advocacy groups. As discussions continue, many are hoping for a balanced solution that addresses redevelopment concerns without placing undue burden on subdivided flat residents.
In conclusion, as the government gears up to finalize its decision regarding the proposed change in compulsory sale threshold; stakeholders advocate finding a middle ground. A progressive approach might just provide ample time for all parties involved - including minority owners and tenants - to find suitable solutions while also giving much-needed attention towards urban renewal projects.