According to the latest report of The Economist, Hong Kong housing prices in the world's premier, housing prices higher than the real value is close to 54%. In this situation Hong Kong people have the new trend of demand for public housing, many young higher education single persons to apply for public housing, the causes is they can’t bear costly private house. The same is the implementation of the public housing system in Singapore, many of the real estate situation is better. Actually Hong Kong people should be superior to Singaporeans, because wages higher than the Singaporeans, but the majority of Hong Kong people's money and energy put on the buying housing, at the end is to live in a small house, but Singaporeans are different, although
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Former Governor Chris Patten has said, Hong Kong Housing Policy is the biggest failure of social policy in a ring. so The main reason is the Hong Kong government itself relies land finance, real estate and high degree of monopoly, a lot of the middle class to make money in real estate investment, resulting in the real estate market out of balance, more and more people cannot bear the housing prices so that they only can apply public housing to solve housing problem. At the same time Hong Kong housing policy have many deficiencies and limitation, such as when a single person want to apply public housing they need to pass the points system under the quota, meet the 140 points or more that can apply successful, the whole application process can fastest in three years finished, but in fact Hong Kong the shortage of housing resources is an indisputable reality, the public housing waiting time actually is over three years. Overall I think Hong Kong government should be imitating the Singapore practice to improve the housing policy, such as enhance more public housing quota for single applicants, set limit of age when age over 35 years old can quicken apply for rate but will gain remote area, aim to prevent their abuse public housing. But the main problems is should control and lower housing prices in the private housing market, let people can easily to buy houses, thus to reduce people to apply public
Former Governor Chris Patten has said, Hong Kong Housing Policy is the biggest failure of social policy in a ring. so The main reason is the Hong Kong government itself relies land finance, real estate and high degree of monopoly, a lot of the middle class to make money in real estate investment, resulting in the real estate market out of balance, more and more people cannot bear the housing prices so that they only can apply public housing to solve housing problem. At the same time Hong Kong housing policy have many deficiencies and limitation, such as when a single person want to apply public housing they need to pass the points system under the quota, meet the 140 points or more that can apply successful, the whole application process can fastest in three years finished, but in fact Hong Kong the shortage of housing resources is an indisputable reality, the public housing waiting time actually is over three years. Overall I think Hong Kong government should be imitating the Singapore practice to improve the housing policy, such as enhance more public housing quota for single applicants, set limit of age when age over 35 years old can quicken apply for rate but will gain remote area, aim to prevent their abuse public housing. But the main problems is should control and lower housing prices in the private housing market, let people can easily to buy houses, thus to reduce people to apply public