Hong Kong policy address: better chance for people under 40 to buy subsidised flats
New measures will be implemented in the next round of sales under the Home Ownership Scheme, John Lee says
Hong Kong people aged under 40 will be given a better chance to buy new and second-hand subsidised flats, the city leader has pledged, unveiling measures to address the younger generation’s home-ownership aspirations.
Chief Executive John Lee Ka-chiu said on Wednesday the new measures would be implemented in the next round of sales under the Home Ownership Scheme to serve family and one-person applicants aged below 40 with “white form” status.
These applicants, who normally live in private flats and fulfil certain income and asset requirements, will receive an extra ballot number in draws for flats to raise their chance of buying a new subsidised home.
The Housing Authority has received an overwhelming response since it relaunched the scheme in 2014. More than 18 applicants competed for each flat last year when the authority, the city’s major public housing provider, offered over 9,100 homes.