Talking Points: Should there be a limit to how much property one person can own?

Talking Points: Should there be a limit to how much property one person can own?

Hate it when you can't talk back? Well, you can with Young Post. Have your say and share with students around Hong Kong

Alex Leung, 16, Ju Ching Chu Secondary School (Yuen Long)

Surely the answer is no. In a modern society, people should have the freedom to buy as much property as they want, as long as the money used to buy it is not made illegally. I agree that there is a housing shortage in Hong Kong and property prices are soaring. This has caused a lot of hardship for ordinary people. But imposing restrictions on the number of flats people can own won't help solve the problem. Also, it would be unfair on those who earn a lot of money through intelligence and hard work. They should be able to do what they want with their money.

It's the government's job to tackle the housing shortage. The authorities should introduce policies to reduce property prices and raise people's living standards. The rich are not responsible for the city's problems.


Titus To Cheuk-lam, 16, Ma On Shan Tsung Tsin Secondary School

A person should be allowed to buy only one flat. Now, many people buy property as an investment. Then they earn extra money by renting the flats or selling them at a higher price. I think one flat is enough for a family, unless they want to spend their time between two homes. This is not practical. It's also unfair and a waste of the city's resources. This is unacceptable, especially when poor people have to live in cubicles.

Limiting the number of flats a person can own will also help bring down property prices. Many rich mainlanders are buying flats in Hong Kong, which is making the housing shortage worse. So introducing property restrictions is the only way to solve the problem and help the poor.


Li Ho-lam, 16, Maryknoll Fathers' School

There shouldn't be any such limit. There is no such thing as a free lunch, so everyone has to work hard to make a living. This is the only way we can enjoy a high standard of living. But if property restrictions are imposed, people will have less incentive to work, and the whole society will have to pay a heavy price - reduced growth and lower income.

There's a great feeling when you are rewarded for your efforts, and unnecessary regulations will only dampen that can-do spirit.


Harrison Shum, 14, Law Ting Pong Secondary School

Definitely not. Everyone should have the freedom to spend their money any way they want. According to international law, governments should not tell people how to manage their wealth. Such interference can reduce economic growth.

Even if there are property restrictions, the prices of flats will keep rising because developers might have to pay more taxes to build a housing complex.


Queenie Liu Yu-kwan, 16, Fung Kai Liu Man Shek Tong Secondary School

Why should we limit the number of flats a person can own? To reduce the gap between the rich and the poor, or control inflation? If we introduced such a policy, it would lead to a lot of problems.

People would lack motivation to make the most of their talents. This would be bad for Hong Kong because there would be a drastic reduction in the city's gross domestic product. This means the government would have less money to spend on development and social projects. Poor people would be badly affected, too, because their allowances may be cut. There would also be a drop in the quality of our medical services and education.

All in all, property limitations would cause chaos in our society and the future would be bleak for Hong Kong.


Tell us what you think in the comment box below.

You're welcome to join the conversation. In our next Talking Points, we'll discuss:

China is pledging to reduce pollution. What should they use to generate power instead of burning coal?

We are now accepting answers from readers for this new topic. To take part, email your answer with your name, age and school, along with a nice, clear selfie (make sure it's not blurry), to yp@scmp.com by Monday lunchtime next week.

This article appeared in the Young Post print edition as
Should there be a limit to how much property one person can own?

Comments

To post comments please
register or