Simple solution

As a long-term resident and property owner I would like to make one simple suggestion to make home purchasing easier and to stabilise the property market.

The deposit amount needed by banks for purchasing second-hand properties must be reduced.

In the UK and the US the deposit amount is typically five per cent or less, whereas in Hong Kong it is 30 per cent (plus stamp duty, plus agent's fees).

Raising such a deposit is almost impossible for most normal working people and many have to resort to borrowing from relatives.

IAN NOCK

Tuen Mun