A Study of Micro Units and Homeownership in Hong Kong Private Housing Market PDF Download
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Author: 馮源愛
Publisher:
ISBN:
Category : Home ownership
Languages : en
Pages :
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Book Description
Author: 馮源愛
Publisher:
ISBN:
Category : Home ownership
Languages : en
Pages :
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Book Description
Author: James Lee
Publisher: Routledge
ISBN: 0429803427
Category : Political Science
Languages : en
Pages : 350
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Book Description
First published in 1999, this volume examines the issue that, in the last two decades, the housing system in Hong Kong has witnessed a slow but consistent transition from a tenure dominated by public rental housing to one dominated by private home ownership. This book seeks to explain the unique social organization of home ownership in contemporary Hong Kong. Specifically, the book deals with the genesis of home ownership from three areas: housing histories, family culture and capital gains from home transactions. It is agreed that extreme deprivations in housing conditions in early lives, a strong family culture of mutual help as well as unprecedented capital gains, all contribute towards explaining the complex nature of home ownership growth. In conclusion the book suggests that with China regaining sovereignty after July 1997, the social organization of home ownership will be further complicated by more internal migrations from other parts of China, making housing problems even more acute.
Author: Chung-kin Tsang
Publisher: Routledge
ISBN: 1000395383
Category : Political Science
Languages : en
Pages : 108
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Book Description
This book studies the cultural framework of the connections between homeownership and social stability in Hong Kong. In the post-war period, homeownership became the most preferable housing choice in developed societies, such as Australia, Britain, Japan, Spain, and the United States. In the financialization era, its proliferation aggregated enormous wealth and debt in the housing and mortgage markets, affecting social stability by creating inequality and housing unaffordability. Hong Kong is the most extreme example of this among developed societies – in recent years, the city has made international headlines both for its housing problem and its social instability. By studying the history of homeownership in Hong Kong over a period of four decades, Chung-kin Tsang proposes that homeownership is inseparable from the social imagination of the future, conceptualizing this framework as "hope mechanism". This perspective helps trace the connections between ‘House Buying’ as a hope mechanism – one which is central to subject formation, life goals, and temporal mapping for socially shared life planning – and social stability. Given its unique approach, specifically its use of "hope" as an analytical category, this book will prove to be a useful resource for scholars in economic culture and financialization, and Asian Studies, especially those working on the cultural, sociopolitical, and economic history of Hong Kong.
Author: 任世寧
Publisher: Open Dissertation Press
ISBN: 9781361153857
Category :
Languages : en
Pages :
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Book Description
This dissertation, "Study of Private Housing Market in Hong Kong" by 任世寧, Sai-ling, Yam, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. DOI: 10.5353/th_b3125694 Subjects: Housing - China - Hong Kong Home ownership - China - Hong Kong
Author: Suk-Fun Josephine Wong
Publisher:
ISBN: 9781361293577
Category :
Languages : en
Pages :
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Book Description
This dissertation, "Home Ownership Aspiration in Hong Kong: a Case Study on the Groups Aged 25-34" by Suk-fun, Josephine, Wong, 黃淑芬, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. Abstract: The aspiration for home ownership has widely spread across the society in Hong Kong since the Long Term Housing Strategy in 1987. The government is said to be fully determined to achieve the target of 70% home ownership rate on the assumption that home ownership is the aspiration of many in the community. Through asset appreciation during economic upturn, home owners enjoy substantial wealth accumulation. Income may be generated when trading up or down the property in the housing market. Home ownership is said to foster social and political stability, and also helps families to provide future financial security. However, house price has been dropped sharply in the 1997 Asian Financial Crisis that induces "negative equity" for many home owners in the society. Their home value has depreciated to the lowest and they experience substantial wealth depreciation. Many owners blame for the government's home ownership policy. Finally, the government determines to reposition the housing policy and pledges to provide affordable public rental housing units for those in genuine need and adopted a free market strategy to let the housing market goes freely according to the demand and supply mechanism. With the booming of economic situation during the past five years, the aspirations for home ownership has been coming back again in the society, especially for the young people who are able to buy a flat under the current high house price and lack of suitable housing units in the housing market. Under this socio-economic background, this study aims at studying the home ownership aspiration of the young people. The study will be start from library research of relevant literature and papers about home ownership. After reviewing the development of home ownership policy in Hong Kong, a brief survey will be taken to conclude if the young people are aspired to become home owners. There are many socio-economic factors like age, martial status, income level, availability of suitable housing, house price, etc. that would affect the choice of their housing tenure. What factors influence the young people's choice of housing tenure most is rather complicated. The housing choice that young people made varies throughout their lives depending on different social, economic and political background. Indeed, government policy is always hinged on the public's housing aspirations and housing affordability. The formulation of home ownership policy should balance the interests of all stakeholders and ensure a healthy and sustainable development of housing market. DOI: 10.5353/th_b4834366 Subjects: Home ownership - China - Hong Kong
Author: Sai-ling Yam
Publisher:
ISBN:
Category : Home ownership
Languages : en
Pages : 314
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Author: Siu-Wai Chan
Publisher: Open Dissertation Press
ISBN: 9781361363874
Category :
Languages : en
Pages :
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Book Description
This dissertation, "To Study the Social Implications of Home Ownership in Hong Kong" by Siu-wai, Chan, 陳小惠, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. Abstract: Home ownership has been recognized by many academic researchers as the preferable tenure compared with renting. As extolled by many policy decision makers, the benefits of home owning against renting received substantial benefits which has tangible constructive profitable impacts such as capital appreciation and intangible benefits such as life contentment, social stability, security of tenure, raised self-esteem, sense of belongings, civic participation, improved physical health and better child outcomes. In fact, few studies havebeen conducted in a Chinese society whether these perceived benefits are also confessed by home owners or potential buyers. Given the strong empirical studies in Western countries, it gives particular interest to explore further and undertake research pertaining to social benefits of home ownership in Hong Kong to ascertain the benefits derived. In Hong Kong, home ownership was promoted by the government since the Long Term Housing Strategy in 1987. However, government had re-positioned its home ownership policy after the Asian Financial Crisisin 1997.Government clarified that the housing objectives would focus on provision of public rental housing to low income group and at the same time minimize its intervention in the private property market by maintaining adequate land supply to sustain an unprejudiced and steady operating atmosphere in the private property market. In fact, the housing policy was shifted from public-led to market-led approach. The Secretary for Housing, Planning and Lands released a Statement on Housing Policy with nine measures were introduced to stablilize the housing market including suspension of production and sale of HOS flats indefinitely and sale of government land can only be applied through the application list. As such, people's aspiration for home ownership was destructed due to shortage of housing supply and the aggregate demand for home ownership had pushed up the housing price which falls outside most people's affordability. This paper attempts to explore if social implications of home ownership would have impact on one's willingness to become home owner by comparison between two target groups of respondents including home owner and renter. The result of the survey and individual interview indicate that home ownership not only brings individual benefits to home owners or potential buyers such as personal fulfillment, wealth accumulation and life satisfaction but also generates societal benefits of maintaining stability, supportive to government and strengthening sense of belonging to the society. It is worthwhile and justified for the Hong Kong Government to accord top priority to materialize people's desire for home ownership of its spillover individual and social benefits. DOI: 10.5353/th_b5334540 Subjects: Home ownership - Social aspects - China - Hong Kong
Author: Yue-Chim Richard Wong
Publisher: Hong Kong Economic Policy Stud
ISBN:
Category : Business & Economics
Languages : en
Pages : 186
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Book Description
More than half of the people of Hong Kong live in heavily subsidized public housing and many are still waiting to be accommodated. This study shows that, unfortunately, the public housing programme has failed to meet basic objectives of efficiency and equity. Considering political consequences, economic benefits, equity effects, social impact and moral dimensions, the author ponders over the issues of privatization.
Author: Bertrand Renaud
Publisher: Hong Kong University Press
ISBN: 9622094384
Category : Business & Economics
Languages : en
Pages : 137
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Book Description
'The real estate economy of Hong Kong is one of the most dynamic and sophisticated in the world, and has contributed greatly to the spectacular development of this vibrant city. More importantly, at a time of rapid globalization of the world economy, it is possibly the best model of the behaviour of an advanced real estate industry operating in an open economy. Hong Kong is thereforeof interest to analysts and policymakers everywhere, not least because of Hong Kong's political reintegration with China in 1997. With this in mind, the authors have managed to capture the key economic features of the private residential real estate market in Hong Kong in this compact volume. They have identified and highlighted critical institutions that contribute to the success and economic factors which shape the dynamics of all sectors of the real estate industry in Hong Kong. This book is essential reading for market analysts, policymakers, students and international readers with an interest in comparative analysis of real estate markets and institutions.' Professor Anthony Walker, Centre for Real Estate and Urban Economics,The University of Hong Kong.
Author: Kin-Kwan Lau
Publisher: Open Dissertation Press
ISBN: 9781361364147
Category :
Languages : en
Pages :
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Book Description
This dissertation, "A Study of Housing Needs and Aspirations of Young Singletons in Hong Kong and Their Expectations on the Government" by Kin-kwan, Lau, 劉建群, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. Abstract: Housing has ever been the major concern of Hong Kong people. The housing prices of Hong Kong have fluctuated up and down largely in the past two decades. Housing prices reached a new record high in December 2013. Although the housing prices slide down slightly in recent months, they remain at very high level. Private housing became more and more unaffordable to Hong Kong people including the middle class. Many Hong Kong people resort to public rental housing (PRH) to meet their housing needs. As at the end of 2013, there were about 122,200 for non-elderly one-person applicants under Quota and Points System (QPS) and that were even more than 121,100 for general waiting list applicants. This reflects the large housing needs of young singletons for one-person household flats and alarms the public and the government of the serious shortage of housing for young singletons. The housing needs and aspirations of young singletons have ever been marginalised by the government that can be indicated by the housing policy carried out in Hong Kong. Singletons aged 21 or over have only been allowed to apply for PRH since 1985. However, the priorities of allocating PRH are given to family households, elderly and the disadvantaged. The successful housed number of non-elderly one-person applicants in permanent public rental housing increased from only 125 in 1996/1997 to 3,700 in 2004/2005. The implementation of QPS since 2005 has greatly restricted the access of PRH by young singletons because the allocation of PRH is mainly on the basis of age and subject to the annual maximum allocation quota of 2,000 units. On the other hand, singletons have only been allowed to apply for purchase of subsidised sale flats and home purchase loans for purchase of self-occupied flat since 1998. All these are restricted by limited quota, size of flats to be purchased and half of the loans granted to general family applicants. Following the cease of various subsidised sale schemes and home purchase loans from end of 2002, the assistance to singletons to purchase their self-occupied flats also has stopped. From the perspective of housing policy in developed countries, government interventions in the housing market have been reduced for the past few decades especially after Asian Financial Crisis and Global Financial Tsunami. Governments of western countries and developed countries of Asia have shifted to adopt more market oriented housing policy and to encourage homeownership since 1990s. Governments emphasize provision of social rental housing to those in need. People living in social rental housing have then been stigmatized. Consequently, housing prices in these countries have been fluctuating up and down largely and supply of housing has not been matched by the needs of people. Accessibility to social rental housing by young singletons is dampened. Shortage of affordable housing affects young singletons seriously. Many young singletons tend to stay longer at parental home as what Yamada (1999) described as "parasite" single. Mckee (2012) finds that it is an international phenomenon of reducing self-occupied homeownership rates for young people as more young people staying with their parents, studying longer, having difficulty in getting employments, facing restriction on accessing state welfare benefit and in changing household formation. In acknowledgi
