Housing in Hong Kong (Who or what are affected? (HK's economy (real…
Housing in Hong Kong
Who or what are affected?
who want to buy house live in HK
real estate bubble
let the income gap between non-residential groups and housing groups expand rapidly
these people who have a lower income
For these people, high housing prices may cost decades or half of their wages.
Economic structure imbalance and malformation
Hong Kong's future development is sluggish
What is the problem?
HK's housing price continue increase
Social imbalances Development
to less residential area
Why did this issue come about?
unfinished house (but not in HK)
Adapt to local conditions
20 thousand are poor and live in bad environment
over 7.4 million people
HK land is too small don't have enough residential area
Where do they live now?
they rent house
big as hotel
small as a cupboard (deseparated)
How did HK solve it?
announced the implementation of a tax on new apartments
build more residential area in New territory
How did other cities responded to issue of housing?
Formulate long-term local development plans and improve building quality.
Reduce reliance on land finance and create new ways of revenue.
Increase affordable housing to ensure the accessibility of residential housing.
80% of people live in public house
There are almost no wanderers in Singapore. The HDB looks a bit monotonous, but it is clean, safe, and the interior space is large enough. It is also more affordable than the similar housing choices of some rich cities such as Hong Kong and London. The Housing Development Board said that the first shopper On average, less than a quarter of household income is used to repay the mortgage.
The area of public housing is generally small. The minimum area required by law is 19m2, and the actual average area of the country is about 40m2. In terms of supply and management, local governments are responsible. Supply methods include: 1) local government new construction; 2) local government acquisition or lease from the private sector
When did it start?