At present, Hong Kong should face different housing challenges. The major real estate problem is deficit of housing. Because the rate of population progress increases, the pressure intended for housing as well increases. When the housing source falls in back of population growth, problem arise, resulting in the deterioration with the residential environment. The excessive rate of natural populace increase, the continuing influx of migrants supply by china manufacturer and the entry of illegitimate immigrants further more increased the people. And the insufficient supply of housing leads to the sharing of dwelling units by several family.
And the next is actually high terrain rent. The main reason for this is the strong competition for space, limited supply on terrain and monetary growth. Because of the higher economical growth, you will discover greater investments in housing expansion. Hong Kong provides assigned a high percentage of investment to the development of enclosure, both in the public and the private sectors.
There is unplanned development in Hk. Development are controlled by simply landforms. For example , roads will be laid out along contours and conform to the form of the waterfront. As such, various land plenty are in odd styles. Streets will be narrow and there are few available spaces. Examples include Eastern Avenue, Western Avenue, High Street and First Avenue in European district.
In fact , some of the trouble is not important but authorities still have to face. For instance, lack of important services and facilities. Because of urban sprawl, residential property use might take up spots that do not have a proper dotacion of simple facilities. Furthermore, lack of laws is a following problem. Having less legislation when it comes to the managing of communal areas and the maintenance of properties will bring about the speedy deterioration of the environmental quality in many buildings.