Source:
https://scmp.com/article/1648543/build-youth-hostels-young-people-who-cant-afford-homes-says-hong-kong-think-tank
Hong Kong

Build hostels for young while they save for costly housing deposits: think tank

Bauhinia Foundation also suggested other ways to ease financial burden on younger generation

A potential buyer (right) listens to a property sales agent at a showing. Couples need to save for 14 years to buy a 40 square metre flat, a Bauhinia Foundation study found. Photo: Edward Wong

A think tank with strong ties to Hong Kong's former leader says the government should reduce housing expenses and build more hostels for young people to live in while they saved to buy flats.

The Bauhinia Foundation Research Centre has found that the younger generation in the city must save for years before they are able to afford the down payment on an average flat.