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Public Policy Debate_Housing_Beanie_Ida

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

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