Town Planning in Hong Kong A Critical Review

Author: Lawrence Wai-Chung Lai
Publisher: City University of Hong Kong Press
ISBN: 9789629370138
Published In: December 1997
Format: Paperback , 165 pages
Jurisdiction: Hong Kong ? Disclaimer:
Countri(es) stated herein are used as reference only

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This book addresses one of Hong Kong's most sensitive issues: land-use planning d its effects on land supply and the housing market. The present planning system and the conflicts between various planning ordinances are criticized. The book proposes several ways to minimizing the transaction costs of development and environmental improvement.

Urban planning legislation and policies have become increasingly extensive and sophisticated. This trend has been fostered by the planning profession's concern for "public interest" and the "environment". In Hong Kong, the endeavours of the profession are enshrined in the Town Planning Bill 1996. As a member of the profession informed by basic economics, I have the view that regulatory legislation and policy initiatives must be cost-effective and defensible in several dimensions. These dimensions are: the respect for private property rights, the minimization of transaction costs for property development and environmental enhancement, and the support for the long-term growth strategy of Hong Kong. It is unfortunate that there has been little conscious attempts by the profession to articulate their practice in terms of these empirical and normative issues when discussing the Bill or established practices. This monograph is an attempt to address some of these issues by highlighting the contractual nature of the leasehold system of Hong Kong and the development rights rationing function of the planning regime. The discussion throws light on the supply side of the housing price question that will continue to shape Hong Kong's public policy agenda for many years.

The author expresses his sincere thanks to Professor Richard Wong, School of Economics and Finance, the University of Hong Kong, for providing him the opportunity to participate in the Hong Kong Economic Policy Studies Project.

The author is in debt to three anonymous referees and three ex-colleagues in the Planning Department and Environmental Protection Department, who do not want to reveal their identity for their useful comments on the initial draft of this monograph.

The kind permission to reproduce parts of the author's works published in the following sources is acknowledged. The works are Chapter 2: the Hong Kong University Press, Planning and Development; Chapter 4: the Hong Kong University Press; and Chapter 5: Hong Kong Centre of Economic Research, the Hong Kong University Press, and the Chinese University Press.

Finally, the author would like to thank Mr. Frederick Pretorius, Mr. K.G. McKinnell and Dr. S.M. Rowlinson for their comments on the final draft of the monograph.

Lawrence Wai-Chung Lai
Department of Real Estate and Construction
The University of Hong Kong