Property speculators are those who invest in different kinds of properties such as residential properties, offices, shopping malls and so on. They buy the property at a low price but sell it at a high price and the difference between two prices is their profit. This essay will focus on only one type of speculators – property developers and their role in urban change. Property developers who buy a piece of land and build offices or housings and then sell to the public to gain profit.
Urban change is the impact of urbanization. Urbanization means the percentage increase in the urban population. When the urban population increase much more than that of rural areas, urbanization occurrs. In general, urban change is the change in all urban development, including outward expansion, upward expansion, urban encroachment and urban renewal. This essay will focus on these four changes in Hong Kong.
There are two main factors leading to the urbanization in Hong Kong. In the 1950s, there were many wealthy Chinese moved to Hong Kong illegally due to the civil war. After 1997, the SAR government launched a new migration scheme which allows 150 mainland residents move to Hong Kong every day. According to Census and Statistics Department, the percentage of net migration to total population increased is 71.5% in 2005. The problem of not enough housing estates for the rapid growth in population arosed. Other than that, the growing number of locals moved from rural areas to urban which led to rural-urban migration. The reason behind is that in rural areas, there are lack of community facilities and medical service which are the push factors. The developers, however, provide many attractions to attract people live in urban area. For example, Harbour One ,which is built by Emperor Ivestment Limited and located in Hong Kong Island West, is highly accessible by buses, minibuses, trams and West Island Line. It provides an excellent quality of the property and club house...
Please join StudyMode to read the full document