Government contemplating conversion of some plots.
It has been noted that property is an important driver of Hong Kong’s economy, and land supply is a key determinant of prices.
According to a research note from Standard Chartered, scarce land supply for new development has fuelled persistent price increases in recent years.
However, while Hong Kong is known for its crowded high-rises, is actually more than a ‘concrete jungle.’
Here's more from Standard Chartered:
About three-quarters of its 1,108 square kilometres of land is actually undeveloped; within this, country parks and other special conservation areas cover a total area of 443 sq km (40% of total land).
This protected land has been under the spotlight lately, as the Hong Kong government is contemplating converting some of it into residential sites in order to increase land supply.
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