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A Greener Hong Kong - thru Renovation

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A Greener Hong Kong - thru Renovation

Too many young buildings are demolished



One out of eight buildings pulled down in HK is not even 30 year old.


Of the 120 buildings approved for demolition thru November, at least 15 were under 15 years old. In 12006, the figure was similar: 12 of 136 buildings were under thre deacdes. Critics contend the rush to redevelop causes unnecessary construction waste, and disrution to the neighoborhood.


Why does this happen?:


- Land prices are so high, that any plot ratio improvements mean more money

- Regulations change, allowing devlopers to add floors

- Construction costs are typically about 1/8th of the land cost

- Govt. regulations do not favor refurbishment


Some want to change this last point, since:


+ HK's real estate industry currently adds 4,000 onnes of construction waste per day

+ Redevelopment can cut down on up to 80 percent of construction waste

+ A new building costs about double a well-furbished one,

+ Refurbishment takes about 1/3rd the time to complete

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