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Figure 7. Average site area (sf) by selected former use of sites, 2012 and 2015










































               Note    :  Including non-residential sites.
               Source:    Our Hong Kong Foundation.





                     As we have emphasised in our first Research Report, land with
              a larger site area will not only generate economies of scale by lowering
              average costs for large-scale developments, it is also conducive to a more
              comprehensive and optimal planning. For instance, it can more easily
              accommodate development of large-scale commercial and residential
              complexes with adequate transport facilities such as transport terminals
              and car parks to be placed near residential areas. On the contrary, in
              addition to being unable to enjoy the benefits above, the shapes of
              smaller sites are usually unconducive to development, indirectly raising
              construction costs, which will ultimately be reflected on housing prices.


                     The analysis above sheds light on the wider problem of the lack of
              a land reserve in Hong Kong, which will be discussed in-depth in Chapter 4.


















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