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Letters | Can Hong Kong afford a climate policy that is all over the place?
- Readers discuss the government’s inconsistent approach to sustainability, the need for transparency around property prices, and the danger of overdevelopment
However, the scheme was met with scepticism and as some anticipated, it is now on hold indefinitely. It’s not necessarily true that people didn’t want to do their part though. Out of more than 1,000 Hong Kong residents surveyed by the research firm Standard Insights, 93 per cent were deeply concerned about sustainability; nearly 70 per cent of respondents were prepared to pay more for eco-friendly goods. This suggests the city is ready for a greener future.
Kimmie Tang, Tuen Mun
Home rebates must be regulated for the market’s sake
This practice, designed to artificially inflate property prices, is deeply problematic. Firstly, the lack of transparency around the actual price undermines banks’ ability to accurately assess the value of a property while providing mortgage financing. This creates substantial risk for the banking system, as properties may be overvalued, potentially leading to losses down the line when prices correct.
Secondly, the unequal distribution of rebates among buyers is unfair. Buyers who are able to negotiate larger rebates effectively pay less for the same property, giving them an unfair advantage over others.
Moreover, the reliance on rebates raises uncertainty for buyers. There is no guarantee that the promised rebate will materialise, as agents may renege on their commitment, citing lack of approval from their management or delay in payment by developers. This leaves buyers vulnerable to dispute and at risk of losing out on savings.
The regulatory authorities must take decisive action to address such malpractice. Greater transparency around property transactions, stricter oversight of real estate agents, and clear guidance prohibiting the use of excessive rebates as a means of price manipulation are crucial to restoring Hong Kong’s property market. Failure to take action will only perpetuate market distortions, eroding public confidence and jeopardising the long-term health of the sector.
Stanley Ip, Sai Wan Ho
Let’s not rush to build a ‘eco-recreation corridor’
Our wetlands and sand flats, and the wildlife they harbour, are wonderful attractions. We can show tourists we care about the environment, not just about redevelopment, and promote ourselves as a city that puts nature first. What we do now will impact generations to come. We want a beautiful future for our children. That future should include being able to interact with the creatures we now take for granted but which could disappear if we keep prioritising our needs and interests over the well-being of other species and natural ecosystems.
Joan Miyaoka, Sha Tin
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