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Article: Private rental housing in Hong Kong

TitlePrivate rental housing in Hong Kong
Authors
KeywordsHong Kong
Housing Policy
Private Rental Sector
Issue Date2002
PublisherRoutledge. The Journal's web site is located at http://www.tandf.co.uk/journals/titles/02673037.asp
Citation
Housing Studies, 2002, v. 17 n. 5, p. 721-740 How to Cite?
AbstractThis paper examines selected aspects of housing policy and its influence on private rental housing in Hong Kong. Its ambitions are modest, in part because so little research has been conducted on the sector, as a consequence of the small size of the sector as well as the concentration of socio-political, economic and policy analyses on the other major housing sectors, namely public renting and home ownership. It is argued that a fundamental function of private renting, to provide a functional substitute and counter-balance to distortions in the market for private home ownership, has been systematically undermined in Hong Kong. In spite of its historical importance in meeting Hong Kong people's housing needs, the sector's decline has been steep and it can now be fairly described as a marginalised tenure, despite incomplete structural adjustment post- Asian Financial Crisis. It is suggested that a fundamental reason for the decline of the private rental sector has been the impact of governmental policy, which undermined the private rental sector and thus an important element of the market mechanism in housing provision. The government's ideology of home ownership has also functioned to transfer lower middle-income families into the owner occupied sector. Although the Hong Kong government has not been as overtly hostile to this sector as governments have been elsewhere, it nevertheless also seems to envisage no real role for the private rental sector in a housing delivery system molded by policy preference for home ownership, rather than fostering viable economic competition by also facilitating an efficient private rental sector.
Persistent Identifierhttp://hdl.handle.net/10722/168712
ISSN
2015 Impact Factor: 1.309
2015 SCImago Journal Rankings: 1.101
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorLa Grange, Aen_US
dc.contributor.authorPretorius, Fen_US
dc.date.accessioned2012-10-08T03:31:44Z-
dc.date.available2012-10-08T03:31:44Z-
dc.date.issued2002en_US
dc.identifier.citationHousing Studies, 2002, v. 17 n. 5, p. 721-740en_US
dc.identifier.issn0267-3037en_US
dc.identifier.urihttp://hdl.handle.net/10722/168712-
dc.description.abstractThis paper examines selected aspects of housing policy and its influence on private rental housing in Hong Kong. Its ambitions are modest, in part because so little research has been conducted on the sector, as a consequence of the small size of the sector as well as the concentration of socio-political, economic and policy analyses on the other major housing sectors, namely public renting and home ownership. It is argued that a fundamental function of private renting, to provide a functional substitute and counter-balance to distortions in the market for private home ownership, has been systematically undermined in Hong Kong. In spite of its historical importance in meeting Hong Kong people's housing needs, the sector's decline has been steep and it can now be fairly described as a marginalised tenure, despite incomplete structural adjustment post- Asian Financial Crisis. It is suggested that a fundamental reason for the decline of the private rental sector has been the impact of governmental policy, which undermined the private rental sector and thus an important element of the market mechanism in housing provision. The government's ideology of home ownership has also functioned to transfer lower middle-income families into the owner occupied sector. Although the Hong Kong government has not been as overtly hostile to this sector as governments have been elsewhere, it nevertheless also seems to envisage no real role for the private rental sector in a housing delivery system molded by policy preference for home ownership, rather than fostering viable economic competition by also facilitating an efficient private rental sector.en_US
dc.languageengen_US
dc.publisherRoutledge. The Journal's web site is located at http://www.tandf.co.uk/journals/titles/02673037.aspen_US
dc.relation.ispartofHousing Studiesen_US
dc.subjectHong Kongen_US
dc.subjectHousing Policyen_US
dc.subjectPrivate Rental Sectoren_US
dc.titlePrivate rental housing in Hong Kongen_US
dc.typeArticleen_US
dc.identifier.emailPretorius, F:fredpre@hkucc.hku.hken_US
dc.identifier.authorityPretorius, F=rp01018en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.doi10.1080/0267303022000009772en_US
dc.identifier.scopuseid_2-s2.0-0036736278en_US
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-0036736278&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume17en_US
dc.identifier.issue5en_US
dc.identifier.spage721en_US
dc.identifier.epage740en_US
dc.identifier.isiWOS:000178298800003-
dc.publisher.placeUnited Kingdomen_US
dc.identifier.scopusauthoridLa Grange, A=6602464526en_US
dc.identifier.scopusauthoridPretorius, F=35616801000en_US

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