Premium waiver suggested for Hong Kong empty-nesters to allow them to rent out rooms in HOS flats

Waiving the premium to allow parents whose children have left home to sub-lease their Home Ownership Scheme flats couldbe a way to relieve the shortage of affordable rental housing in the city, Housing Society chairman Marco Wu Moon-hoi has suggested.

At present, the owners of HOS flats are required to pay a land premium before they can lease or sell their flats.

Wu's remarks came a day after the Housing Authority announced that the average waiting time for families and single elderly people applying for public rental housing had climbed to 3.2 years - exceeding the government's three-year pledge.

Speaking on RTHK yesterday, Wu, a retired housing official dubbed the "father of the Home Ownership Scheme" for his role in the introduction of the policy in the 1970s, said a relaxation of restrictions over the sub-lease of HOS flats could be considered as an additional source of affordable rental housing for lowincome families.

Wu said the land premium amount was often a hindrance for elderly empty-nesters to lease their homes. "This is a matter of family combination. A young couple get married and need a bigger flat when they have children. But after their children grow up and move out, do they still need such a big flat?" he said.

A premium waiver could provide incentives for residents to lease one or two rooms to families on the waiting list for public rental housing, he added.