Housing Policy

Housing policy 1. Long-Term Commitment to Provide Public Renta

l Housing; 2. New Policy for Resumption of Home Ownership

Scheme; 3. Enhancing the My Home Purchase Plan; 4. Housing Land Supply and Sale of Sites with Flat

Size Restrictions; 5. Policy on Land Development and Accumulation; 6. Regulating the Sale of Residential Flats by Legisl

ation; and 7. Development in Old Districts

Resumption of HOS; was carried out for a long times HOS good enough improvment

Content

5000 small and medium flats collaboration with the Hong Kong Ho

using Society first-time home buyers sandwich class.

HOS requirement

Social reason poor and rich are dividing into two

opposing extremes Slow down the motion of class Society unstable.

Social reason “To live in peace and enjoy one's wor

k” Own their flat “house” or “home” = basic Believed Gov. should help them they could have chance to own their p

roperties.

Economic reason Nowadays, all property developers are interested i

n building large premium properties and selling high price to generate high profit. Middle or small size properties become extinguish in the market. Crazily rises of properties price and inflation causing revive of Home Ownership Scheme (HOS) becomes a pacification policy for the middle class family.

Government provides HOS would affect the property market. HOS flats are lower than market price; therefore, government can act as a competitor in the market and control the small and middle size flat price.

Social Advantage stabilize the society motion social class minimize the extreme disparity betwe

en the rich and the poor solve the contradiction of society.

Economic advantage Investment attitude cost and risk are relatively lower. Good for “beginner” suitable for young investor

Problems Densely populated in Hong Kong Large size house is limited Many buyer come form outside, Demand is higher than supply. Supplier only target “large flat”$

Problems Where are lands come from? HOS area increase ; Private housing ar

ea decrease. Decrease number of private flat. Private flat price go up; disqualified middle class will be affect

ed.

Problems Slow and difficult to go into the

private market HOS takes nearly ten years to

bring into market not efficient.

Problem Home & Investment tool. Connected HOS and Private Affect other side HOS cause private property price dro

p quickly Economic affected Affect investor’s reliance toward Ho

ng Kong as a free market.

Problems small group enjoying the benefit Home Ownership Scheme

requirement Always above quota By lottery Opposite form the

policy. benefit the most suitable applicant.

unidirectional permanent housing sponsorship scheme

Government cannot assess lucky fellow’s monthly domestic household incomein future

Not fair Public rental housing periodically a

ssess income level

selection limited discount it into cash less efficient than the private sector not move on to a more suitable

place of residence. HOS low flow, increase the traffic load causing air pollution.

Help middle class to accumulate wealth

Stronger mind in request resumes building HOS.

Bursting economic bubble resume building HOS disappear

Conculsion HOS is important Resume is important Side effect. Increase residential land use

Suggestion Provide more housing benefit Subsidize or sponsorship Assist 1st time buyer

Do something to lower the price Increasing the land use supply Supply close to demand Settle public needs

Reduce attractiveness of HOS in 2nd hand market

Pay taxes for resale of HOS Refund part of the profit to Gov. Loss people apply for investment More suitable people get benefit

assist PRH in My Home Purchase Plan

Very low price. Lower financial pressure.

Supply will increase Increase the taxes for those own man

y properties. Prevent holding too many properties To make sure the flat size is matched

with local citizen need Increase the amount of small and mid

dle flat.

Education suggestion Lifel=own a property? Parents educates their children to ow

n a property Advertisement 80’s use all their method to get a pro

perty Goal = property = success High demand

Owning property is not a equal to a life goal

Lower the society contradiction

Q & A