The Housing Problem in Hong Kong

In 28 Dec.,2012, Greenview Villa began to accept Interested buyers, the initial enthusiastic response from the rigid demand of the property market property prices, has received about 600 copies of the first day of registration, to reflect the rigid housing demand in Hong Kong strong, to face a serious shortage of supply, high property prices high, and the public in buying difficult, apart from rising rents lead to the living environment of the grassroots more apparent retrogression, the situation is worrying.

Greenview Villa “this is the previous government to ease the ease the housing problems of the product, originally funded by the government, so that the sandwich class of first-time home buyers rent to buy, named” MHPP.

Mr Tsang announced in his policy address in October by 2010 to launch this program, the main reason is the government stubbornly refused social resumption of HOS requirements, then submitted alternative to respond to the voice of the public subsidized housing.

Over the past two years, the Hong Kong property prices continued to rise, the housing problem is becoming more deterioration from during the campaign the Chief Executive to after taking office, Leung Chun-ying are advocated re-launch the HOS policies, but need to build, ” Greenview Villa ” just the change the “use” somehow become HOS speedy relief.

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In recent years, the prices of property are so high, it is because the first one is in short supply, the second one is the low interest rate environment “pushes” demand diminishing nearly out of control. I think the only solution is to increase supply, curb demand.

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However, increasing the supply of land to speed up housing construction, none of a quick fix may not three or five years, hard to bear fruit, it is far from the water can not put out a close fire.

In addition, along with Hong Kong after the 1980s and 1990s the economic take-off, a lot of fifty or sixty members of the public, has completed mortgage spare capacity to assist children growing up in other home ownership. Like Greenview Villa “prospective buyers, singletons accounted for the majority of which will be the parents to help pay the down payment, I believe a large number. Similar to the mortgage payments and rent expense in the current environment, even for flat too rent, demand for home ownership in this regard should not be underestimated.

The ultra-high property prices, even the middle class buy their own homes, while the joint rents soaring, grassroots affected even more. Unable to wait a long time on the lower strata of the public housing, are not eligible to apply for public housing and weakness of the “sandwich class” to buy a property, forced to pay high rents. Not afford the high rent by only retreat Check sub-divided units, cubicles, caged, more and more people to avoid reducing the appalling living conditions.

In the past year, the property market in the amount of price rise or if the situation continued, planted a major worry for Hong Kong’s social and economic development. First, the housing problem caused further exacerbate the disparity between the rich and the poor, the deep social grievances Day; Global economic confront unpredictable interest rates, after all, will have to regain uptrend day once caused by the bursting of the asset bubble, the dire consequences of the economic blow.

Approaching in 2013, property prices in the short-term material will be high consolidation, and thereafter go from here, depending on the economic environment and downs, more to see whether the SAR Government can make a difference. Hong Kong people can only live within its means, waiting in the wings, self-reliant.

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The Housing Problem in Hong Kong. (2017, Feb 17). Retrieved from http://studymoose.com/the-housing-problem-in-hong-kong-essay

The Housing Problem in Hong Kong

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