Letters
Revive Home Ownership Scheme
The Hong Kong Civic Association has noted from the media that the chief executive has been actively looking around the SAR for suitable sites for public housing. Also in regard to future Home Ownership Scheme (HOS) flats, he will be addressing this issue in his October Legislative Council policy address.
In view of a genuine demand for these flats, our association would urge the government to revive the HOS with conditions that are more up-to-date to suit the requirements of first-time home buying households of two to five persons in the lower income bracket of about HK$15,000 to HK$30,000 per month, who do not qualify otherwise for Housing Authority-type accommodation.
Property prices are so high nowadays that the land premium conditions in the original HOS would be financially onerous and inapplicable today.
Taking into account the all-important factor of affordability, future HOS flats should be offered to qualified home buyers at the current market price for the flat, less a subsidy of about 30 per cent on the cost of the land premium on the flat.
Our association hopes that the government will revise and update the pre-2002 HOS and make every effort to make available to the community within the next few years 1,000-2,000 HOS flats annually.
In the chief executive's policy address in October, we hope information will be forthcoming on: