Effectiveness of the housing policy on assisted home ownership of first time homebuyer in Hong Kong

Abstract

Housing problem is one of the main social problems in Hong Kong. The government put great effort and attempted to alter the situation throughout increasing of housing provision, subsidized housing to accommodate the low I middle income group and balance the housing demand and supply but also consider balancing the private housing market. Even in the coming election of the Chief Executive, there is large context covering about the housing plan in their election program by the candidates. In this study, the changes of the housing policy mainly focus on the assisted policy for the first-time owner will be explored; it will be back up with the analysis under the literature review. Furthermore, housing policy of other countries would be compared. Questionnaire with the target group at age 25-40 years old Hong Kong residents would be conducted to assess their opinion about the effectiveness of the existing assistance measures for the first-time owner about home purchasing. The goal of this paper is to assess the effectiveness in respect of the existing housing policy in helping the citizen to be the first-time home buyer. Throughout this study, it would reflect the situation in certain extent and recommend if any further measures can be made to improve the housing policy.