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Land value capture mechanisms in Hong Kong and Singapore: A comparative analysis

Eddie Chi‐Man Hui (Department of Building and Real Estate, The Hong Kong Polytechnic University, Hong Kong)
Vivian Sze‐Mun Ho (Department of Building and Real Estate, The Hong Kong Polytechnic University, Hong Kong)
David Kim‐Hin Ho (Department of Real Estate, National University of Singapore, Singapore)

Journal of Property Investment & Finance

ISSN: 1463-578X

Article publication date: 1 February 2004

5449

Abstract

Hong Kong and Singapore are characterized by rapid economic development and a high population density of 6,250 and 6,055 per km2 land respectively. Land revenue is their major source of income to finance their public infrastructure and social services. Their design and collection of taxes on land, their value‐capture instruments and their allocation of revenue for public works are examined. The article finds that there are some similarities between the two cities in capturing land value, such as the collection of annual rates and stamp duty on property. The differences include the adoption of property tax surcharge and the development charge. In fact, each mechanism has its pros and cons. The method and the extent of each mechanism depend on the goals of the government in respect of the social and economic conditions.

Keywords

Citation

Chi‐Man Hui, E., Sze‐Mun Ho, V. and Kim‐Hin Ho, D. (2004), "Land value capture mechanisms in Hong Kong and Singapore: A comparative analysis", Journal of Property Investment & Finance, Vol. 22 No. 1, pp. 76-100. https://doi.org/10.1108/14635780410525153

Publisher

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Emerald Group Publishing Limited

Copyright © 2004, Emerald Group Publishing Limited

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