Policy Address

Larger HOS Flats Are an Important Step — Young People Need Homes Where They Can Afford to Raise a Family

Abstract: Hong Kong’s homeownership rate among younger households has fallen substantially, while smaller newly built subsidised flats and rising housing costs have weakened the appeal of moving up the housing ladder. This article argues that the Government’s move to provide more larger subsidised sale flats and lower down-payment requirements for some young families is an important step, but lasting reform must also address living space, affordability and housing mobility so that homeownership can provide a home in which young families can build their lives. The difficulty young people in Hong Kong face in buying a home has been discussed for…