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Hong Kong Land for Hong Kong People$
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Yue Chim Richard Wong

Print publication date: 2015

Print ISBN-13: 9789888208654

Published to Hong Kong Scholarship Online: September 2015

DOI: 10.5790/hongkong/9789888208654.001.0001

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How to Warm Up the HOS Secondary Market

How to Warm Up the HOS Secondary Market

(p.83) 12 How to Warm Up the HOS Secondary Market
Hong Kong Land for Hong Kong People

Yue Chim Richard Wong

Hong Kong University Press

One of the most important reasons why housing prices in Hong Kong are high is not the absence of land but the rigidities of planning rules and regulations that govern its use. These rigidities make it very difficult, costly, and time-consuming to make land available for housing development, whether in the public or the private sector. The inflexibility of regulatory control is not only limited to land use but also applies to existing housing units, both public rental housing (PRH) and Homeownership Scheme (HOS) units. These units, once assigned to an occupant, seldom become available for other users even when the occupant no longer wants to remain in the unit. The lack of circulation is the major source of inefficiency and inequity in the public housing sector.

Keywords:   Hong Kong, Housing, Housing policy, Public Housing, Politics, Social mobility, Population, Economics, Growth

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