The Hong Kong government/China have been completely inept at managing the housing situation and it is nearly at a breaking point. It is refreshing to read an article on the current situation that raises the issue.
'One of the deeper causes of the present crisis of legitimacy is the housing crisis in Hong Kong, another way in which the government has failed the people it is meant to represent, and you can see it in the extraordinary density of apartment buildings, each unit pock-marked with an air conditioner, tiny living spaces with some of the highest rents in the world.'
But this is how the Hong Kong government has traditionally made its money. Hong Kong’s tax structure is real-estate sales. This is why Hong Kong is all about huge sky rise developments of ultra-small apartments... and because the island is all hills, it is also why so many developments are built literally on a cliff.
Hong Kong is a geographically difficult place... building new plots is expensive - and the government makes it more expensive.
'One of the deeper causes of the present crisis of legitimacy is the housing crisis in Hong Kong, another way in which the government has failed the people it is meant to represent, and you can see it in the extraordinary density of apartment buildings, each unit pock-marked with an air conditioner, tiny living spaces with some of the highest rents in the world.'