Suggestions that the Government had decided to scrap the Home Ownership Scheme were rejected yesterday.
Secretary for Housing Dominic Wong Shing-wah said officials were looking at an alternative to the scheme, which Mr Wong admitted yesterday had been very successful. The alternative would offer loans to allow people to buy homes in the private sector.
The current scheme provides government-built flats at below market prices.
Mr Wong dismissed suggestions that property developers were pushing for the scheme to be scrapped.
'There has been no pressure from developers whatsoever. We have simply looked at this matter and believe this is something which we should examine seriously in terms of feasibility,' he said. 'We have no conclusions or preconceived ideas.' Mr Wong said the Government planned to relax restrictions on transfer of ownership scheme flats.
He said a review of the three government home-loan schemes should be concluded within three months. The review would consider the goals, criteria and amounts offered under the schemes.
