Sell subsidised flats in Hong Kong by waiting list, not lottery, head of largest property agency says
Centaline chairman believes such an overhaul would send strong, positive message to city’s young people who despair over affordable property
Subsidised flats for sale in Hong Kong should no longer be sold by lottery but through a waiting list, the founder of the city’s largest property agency proposed.
Centaline chairman Shih Wing-ching suggested that flats on the government’s Home Ownership Scheme (HOS) should be placed on a waiting list just as public rental flats are, instead of being offered as “a big lucky draw” as many have criticised.
“Flats being sold by lucky draw mean that it only helps solve the housing problem for a small group of people,” Shih said on Wednesday at a housing and land supply forum hosted by four think tanks. “I know someone who has tried to buy an HOS flat for 40 years, and they were never picked.”
Shih explained that a ballot could be conducted for the next batch of HOS flats to determine a priority sequence, with those who are not selected put on the waiting list.
