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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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Eighty Percent Homeownership (Part 1)

Eighty Percent Homeownership (Part 1)

A Cost-Free Solution

Chapter:
(p.191) 27 Eighty Percent Homeownership (Part 1)
Source:
Hong Kong Land for Hong Kong People
Author(s):

Yue Chim Richard Wong

Publisher:
Hong Kong University Press
DOI:10.5790/hongkong/9789888208654.003.0027

People today see property as more than a form of shelter. They desire to own property as an asset to insure against an insecure future, yet they know that a private sector home is unaffordable for many of them. That is why they try to climb through the PRH and HOS public housing ladder. But here their aspiration is constrained, because that ladder leads only to a compromised future of partial and incomplete property ownership, where they cannot sell their unit on the open market without paying the exorbitant land premium. Should this be the ultimate prize that the people of Hong Kong have to look forward to? More importantly, can Hong Kong afford to allow this situation to continue?

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

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