Application List System
Some property developers have recently urged the Government to change the Application List System and resume scheduled land auctions to increase land supply. I do not agree.
The Application List System enables real estate developers to apply for suitable sites on the Application List for public auction. The number of sites to be put up for sale and the time for land sale are decided by the market. This prevents the Government from interfering unnecessarily with the operation of the market. The system is working well. We have no intention of changing it.
The Development Bureau will announce the Application List for 2008-09 shortly. The number of sites on the list will increase from last year’s 47 to 62. These sites cover a total area of 60 hectares and allow for a variety of uses.