Housing Problem in Hk

Housing issue is a contention problem in Hong Kong. As we all know, Hong Kong has a huge among of population exactly lack of land for development. Land resources become race and valuable. The broad(prenominal)-price of building is unaffordable for grass-roots class and even some middle-class rent or buy. Public housing is a way for them to choose, however, the supply of customary housings have been decreased because the changes of housinSSg indemnity. And the cancelation of regular land auctions policy also bring out some problems. Also, there atomic number 18 many a(prenominal) a(prenominal) living problems rounding us, for instance, the time of waiting a ordinary rental residence is too long, and the price of offstage properties are irrationally increasing that led people speculative the housing policy of Hong Kong government.
In the following paragraphs, I am going to mention about the changes of housing policy and explore whether the government failed in the housing policy that leads so many housing issues.

The revenue of Hong Kong Government in general relies on the high land premium policy. Through the regulation of land sales and the stamp duty of property transaction to earn the exceptional reserve maintaining the public spending.




In 1997 Policy Address , tung-oil tree Chee Hwa measures on housing included a pledge to cater 85,000 housing flats each year so as to conclude the problems of soaring property prices and 70% people can have a flat to reduce the waiting time of public rental housings. However, when the supply of flats over the demand of market that impart appear sell climax that leads the irrational price reduction. On the other hand, the finical turmoil aggravated the reduction of house price fell down about 50%, many people became negative equity
In late 2002, Suen Ming Tueng announce Suen-Nine measures to resolve this situation and stabilize Hong Kong property market. His plan mainly suggested to cancel the regulation of land auctions policy, stop building and selling the Home Ownership (HOS) and the construction of...If you want to get a full essay, order it on our website: Ordercustompaper.com



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