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Budget & discussion with: Kevin Tsui & John Marrett; tenancy control of subdivided units
2021-02-26
On Wednesday, Financial Secretary Paul Chan delivered his Budget for the coming year. In the midst of a pandemic and with the jobless rate at 7%, the highest in 17 years, many Hongkongers were hoping for decisive measures to help them through this difficult time. But it seems as though they were disappointed. In an instant survey conducted on the day by the Hong Kong Public Opinion Program, respondents gave the Budget just 36.4 marks out of 100. To talk about the Budget are Kevin Tsui, an economist from the University of Hong Kong, and John Marrett, a senior analyst at the Economist Intelligence Unit.
Despite the pandemic and profound socio-political tensions in Hong Kong, one thing hasn’t changed – Hong Kong’s property prices. The latest CBRE Global Living 2020 report names Hong Kong as the most expensive property market, with the average price of a residential property at US1.25 million. In terms of housing supply, this year’s Budget has little to offer. The average waiting time for public housing has risen to 5.7 years, a record high. It’s estimated that just 101,400 units will be completed in the coming five years. Meanwhile for years there have been calls for the government to re-introduce rent controls, particularly for low-income tenants. But officials have resolutely turned a deaf ear.
Despite the pandemic and profound socio-political tensions in Hong Kong, one thing hasn’t changed – Hong Kong’s property prices. The latest CBRE Global Living 2020 report names Hong Kong as the most expensive property market, with the average price of a residential property at US1.25 million. In terms of housing supply, this year’s Budget has little to offer. The average waiting time for public housing has risen to 5.7 years, a record high. It’s estimated that just 101,400 units will be completed in the coming five years. Meanwhile for years there have been calls for the government to re-introduce rent controls, particularly for low-income tenants. But officials have resolutely turned a deaf ear.
RTHK's English-language current affairs programme that takes "The Pulse" of Hong Kong ... and the world around it.
"The Pulse" is presented by locally and internationally known journalist and writer Steve Vines.
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Archive available later after broadcast. ** Please note that the programme air-time on TV is different with webcast time.
"The Pulse" is presented by locally and internationally known journalist and writer Steve Vines.
Its focus? The latest events and trends that affect Hong Kong - from the corridors of power and business boardrooms, to the streets and dai pai dongs.
"The Pulse" is politics. What's happening in the Legislative Council and on the streets right now.
"The Pulse" is the media, informing us how well or badly our press and broadcast organisations diagnose and reflect the society around us.
"The Pulse" is insightful, in-depth reports and interviews on current issues - examining those issues in depth, looking behind and beyond the news.
Its focus is on the timely. The Now.
Keep your eye ... and your finger ... on "The Pulse".
If you want to discuss anything you've seen in "The Pulse", or anything in the public eye right now, or just to talk about the show, why not join in the debate on our Facebook page, RTHK's The Pulse.
Starting 3 April, the programme is aired every Friday on RTHK 31 at 19:30.
We're on Facebook
RTHK's The Pulse https://www.facebook.com/RTHK.Pulse/
Instagram @rthkthepulse
Twitter @thepulse_rthk https://twitter.com/thepulse_rthk
Archive available later after broadcast. ** Please note that the programme air-time on TV is different with webcast time.
