
Bernadette Linn Hon-ho clarifies the scope of the new Building Maintenance Support and Services Council
Hong Kong's Secretary for Development, Bernadette Linn Hon-ho, has rejected claims of a policy reversal regarding a new building maintenance agency, stating its role is distinct from an authority rejected ten years ago.
AI-generated summary
The government is establishing the Building Maintenance Support and Services Council by the end of the year. A proposal for an independent building maintenance authority was previously rejected a decade ago.
Hong Kong’s development chief has refuted accusations of a policy U-turn over the establishment of a dedicated agency to help flat owners with building repair tenders, insisting the agency’s planned remit differs fundamentally from one rejected a decade ago.
Secretary for Development Bernadette Linn Hon-ho, in a press conference on Friday, elaborated on the scope of work of the Building Maintenance Support and Services Council, which will be established by the end of this year. She was asked if this contradicted an earlier statement from the government.
“I have reservations about establishing an independent building maintenance authority. I have always had reservations about combining law enforcement with support and assistance, as there is an inherent contradiction between the two,” she said.

The Tide East Forum was held at Shanghai University of Finance and Economics to discuss the transformation of cities and real estate under the digital economy. A research report on commercial building renewal was released at the meeting, which recommended that the integration of investment, financing, management and retirement and financial innovation be used to solve the problems of aging and high vacancy rates of existing buildings and to promote high-quality and sustainable urban development.

Swire Properties announced that "Indigo" in Beijing's Chaoyang District has officially changed its name to "Beijing Taikoo Place", integrating the second phase expansion into the brand system. The total construction area of the project exceeds 860,000 square meters, covering offices, retail, hotels and art spaces, aiming to create a comprehensive waterfront landmark.

The Nanke Nanzi Park where TSMC's Kaohsiung plant is located covers an area of approximately 182.57 hectares. The urban plan change has been submitted to the Ministry of the Interior for approval. The layout of P1 to P5 in the park continues to advance, and the unit prices of new housing projects in the surrounding housing market have already started with the prefix 5.

About 70 per cent of Hong Kong's subdivided flats have been registered for a grace period under the new Basic Housing Units Ordinance, with most submissions from Kowloon's Yau Tsim Mong district.

The Taipei City Land Bureau released real estate information for July 2015. The residential price index, total standard residential price and unit price all hit new highs. The city's transaction volume and total amount declined compared with June. Among them, the prices of buildings and small houses increased, and only apartment prices showed a downward trend.

The implementation of the seventh wave of credit controls by the Taiwan Central Bank has caused the housing market to cool down, and some funds have been diverted to US real estate. Experts point out that real estate taxes, insurance and management fees need to be deducted when buying property in the United States. The actual rental income may be half eaten by the cost. Investors should carefully evaluate exchange rate and tax risks.