智通财经APP获悉，地价收入是港府其中一个主要收入来源，有议员关注政府会否考虑推出针对性措 施，以降低发展商项目发展的前期投资成本，并重新推行勾地制度。香港发展局副局长林智文近日在立 法会大会重申，目前制度能让政府掌握推售土地的主导权和节奏，确保土地供应稳定且审慎，故当局现 时无意重推勾地制度，也没有打算卖地和勾地双轨并行，以防打乱政府推地的策略及步伐，令市场制造 混乱的讯息，称"如果发展商对个别用地有兴趣，可以通过不同的渠道向香港发展局反映，供局方参 考。" 林智文还表示，政府为鼓励私营机构参与旧楼重建，强拍修订条例已经在去年12月实施，降低了强拍申 请的门槛和利便相连地段的强拍申请。他提及条例生效至今，香港土地审裁处已接获4宗强拍申请，政 府近年也都推出其他措施，鼓励私营机构参与旧楼重建，加快城市更新的步伐。他举例指香港市建局已 展开的深水埗和荃湾的地区研究中，将探讨调整个别地区地积比率上限，以及提高个别旧楼地盘重建时 最高地积比率的可行性，香港市建局将会在今年下半年提出更新的大纲蓝图。 林智文表示，市场的出价受到经济环境和房地产市场情况影响，有升有跌，政府的政策目标是维持持续 和稳定的土地供应，促进香港 ...

Summary of Hong Kong Real Estate Market Conference Call Industry Overview - The conference call focuses on the Hong Kong real estate market, highlighting its structural issues and historical context [1][2][3]. Key Points and Arguments 1. **Home Ownership Rate**: Hong Kong's home ownership rate is approximately 50%, significantly lower than the overseas average of 60%-65%, primarily due to the long-term suppression of public housing conversion to private housing [1][5][6]. 2. **Housing Ladder System**: The Hong Kong government attempted to create a "housing ladder" system, but it has largely failed over the past 20 years due to poor flow between public and private housing, resulting in long waiting times for public housing applications [1][8]. 3. **Living Conditions**: The average living space per person in Hong Kong is only 15.6 square meters, leading to significant quality of life issues, including overcrowding and low transaction frequency in the secondary housing market [1][9][10]. 4. **Government Policies**: Post-2003, the government halted the居屋 (Home Ownership Scheme) and tightened land supply, which has led to a shortage of housing and increased prices [1][16][18]. 5. **Market Dynamics**: The rental-to-sale ratio has been on a downward trend, indicating a long-term alignment with interest rates. The current rental-to-sale ratio is 3.7, down from a peak of 6 in 2003 [3][4][34]. 6. **Economic Impact**: The low activity in the secondary housing market, with only 0.6 transactions per 100 people annually, reflects poor liquidity and negatively impacts the overall health of the economy [10][11]. 7. **Future Outlook**: The future trajectory of the Hong Kong real estate market will depend more on inflation trends rather than interest rates. A return to inflation could help alleviate historical price pressures [3][33]. 8. **Supply Challenges**: Despite some policy adjustments, there remains a significant supply shortage, with potential land supply gaps projected in the coming years [22][36]. Additional Important Content - **Historical Context**: The real estate market saw significant changes post-1997, with a marked decline in activity and price fluctuations influenced by various economic factors [2][12][13]. - **Government's Role**: The government's reluctance to increase housing freedom for public housing tenants is aimed at protecting private housing market pricing, which has contributed to widening wealth gaps [26][27]. - **Investment Considerations**: Investors are advised to monitor economic re-inflation trends, as current asset prices reflect expectations of economic stabilization [36]. This summary encapsulates the critical insights from the conference call regarding the Hong Kong real estate market, its challenges, and future outlook.