Public Policy Debate_Housing_Beanie_Ida

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Public Policy Debate_Housing_Beanie_Ida

  1. 1. Beanie Shuen 10429492 Ida Ho 10418733
  2. 2. <ul><li>Insufficient supply from private market </li></ul><ul><li>Major developers focus on luxurious housing projects </li></ul><ul><li>Private housing exceeds the affordability of most citizens </li></ul>
  3. 4. <ul><li>24 land sales on 2011 </li></ul><ul><li>16 were for residential use </li></ul><ul><li>Price per square feet ranged from $4,000 to over $10,000 </li></ul>
  4. 5. <ul><li>According to the Quarterly Report on General Household Survey conducted by Census, the median monthly household income was $19,600 for a household size of 3 persons </li></ul>Source from: http://www.statistics.gov.hk/publication/stat_report/labour/B10500012011QQ02B0100.pdf
  5. 6. <ul><li>Example </li></ul><ul><ul><li>Family of 3 persons, monthly income = $20,000 </li></ul></ul><ul><ul><li>To purchase a flat cost at 2.5m </li></ul></ul><ul><ul><li>Deposit = 2,500,000 x 30% = $750,000 </li></ul></ul><ul><ul><li>Remaining 70% by mortgage </li></ul></ul><ul><ul><li>Interest rata of 3% for 20 years </li></ul></ul><ul><ul><li>Monthly installment = $9,700 </li></ul></ul>
  6. 8. <ul><li>To relax the limit of the household income </li></ul><ul><li>- income of average household size in 3 persons was $19,600 </li></ul><ul><li>- income limits for a 3 person’s family was $16,063 effective on 1 st April 2011 </li></ul><ul><li>- increase the limit to around $20,000 </li></ul>
  7. 9. <ul><li>To adjust the quota allocation ratio between the Green Form and White Form applicants </li></ul><ul><li>- the latest current ratio of the green form and white form is 60:40 </li></ul><ul><li>- Increase the proportion of White Form applicants for more than 50% </li></ul>
  8. 10. <ul><li>Speed up the process of the Home Ownership Scheme </li></ul><ul><li>- plan to release the housing on around 2016-17 </li></ul><ul><li>- 1st year -> 2500 flats and target 5000 flats/year </li></ul><ul><li>- 50000 number of marriage/year </li></ul><ul><li>- investigating more sites </li></ul><ul><li>- make it more tightly </li></ul>
  9. 11. <ul><li>Repealing the My Home Purchase Plan </li></ul><ul><li>- provide around 15,000 number of flat on 2016 </li></ul><ul><li>- ridiculous assumption </li></ul>
  10. 12. <ul><li>improving the social rented sector </li></ul><ul><li>providing more homes at a price they can afford </li></ul><ul><li>re-allocated the ratio </li></ul><ul><li>speed up the process </li></ul>

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