Page 13 - Hang Lung Group 2012 Annual Report

ʬ ࡈ ˜ ۃ ຅ ࠰ ಥอ΂Б݁ڗ ֜ɪ΂
ࣛd͉ɛʊཫ಻ִ݁ึમ՟ቇ຅ٙ೵
ಂձ ڗ ಂ໾હણ݄dԫྼ͵್f್
ϾdӐጐɤϋٙਪᕚᓙʔঐί೵೵ᅰ
˜ගҁΌ༆ӔdˈՉ݊ऒʿՑגήପ
Ϥᗳڗಂ༟ପf̙ܔጘٙɺήԨʔঐ
׵೵ಂlzఌ˓̙੻dϾуԴҢ՟ࡁ੻
வԬɺήdИσఊЗʥცεϋࣛග˙
ঐܔϓfίϤઋرɨd͉ɛ޴ڦତ֣
ִ݁ʊးɢϾމdШొจϓࣖʔึ׵
ɓϋ̒༱ᜑତf
௅ʱʔə༆̹ఙ༶Ъٙ൙ሞࡰႭdה
Ϟʊ౤̈ א મ՟ٙણ݄ѩೌ༆ج Ӕ
຅ۃਪᕚfவ̙ঐ݊ԫྼdШ͉ɛԨ
ʔႩމϞ΂Оɓ ࡈ೵ಂ˙ࣩ݊ʔึ੭
Ըڗಂᘌࠠˀࣖ؈ٙfࡊ મ՟Ꮠܢᛆ
֝ʘࠇd࠰ ಥਗ਼ೌ̙ᒒеή௘ɝһె
Εٙྤرfᑘɓ ࡈ฽၌Էɿjִ̙݁
˸Դ͜Б݁ણ݄ຫ˟Иσʹ׸אਔ˿
ვБ৾˟౤Զܲ౧dᅽᄆکึܢൻf
Шவ ࡈ ˙ࣩ࿁ٟึ݊λԫ෗k຅್
ʔ݊f
As I predicted six months ago when our city’s new Chief
Executive first took office, proper steps would be taken to
remedy the situation for both the short and the long terms.
Indeed it came to pass. However, a decade-long problem
cannot be fully resolved in a few short months, especially
when it comes to real estate which is a long-dated asset.
Buildable land cannot be had within a short period of time,
and even if we have it, constructing residential units will take
many years. Given the circumstances, I believe the present
government is doing all it can. Desirable effects will unlikely
be seen for perhaps a year or so.
Some commentators not understanding market dynamics
have said that all the measures proposed or taken will not
solve the immediate problem. That may be true, but I do not
believe that there exists any short term solution which will
not induce longer term and serious negative consequences.
If adopted, such quick-fixes will inevitably leave the city in
a worse condition. Take an extreme case: the government
can use administrative measures to prohibit residential
transactions or cause the banks to stop making mortgages.
Prices will quickly fall, but is that a solution for society?
Obviously not.
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