Subsidising Home Ownership
22. The Government recognises the importance of a stable home, and is fully aware of our people's wishes to improve their quality of life and move up the social ladder through home ownership. Many find it unnerving that property prices have kept rising and years of hard-earned savings cannot even cover a down payment. They hope that the Government will help them realise their aspirations for home ownership. The Transport and Housing Bureau (THB) started consulting the public on subsidising home ownership last May. The exercise was completed in mid-September.
23. There are diverse views on the resumption of HOS. We share the public concern over soaring property prices and the difficulties in purchasing their first flat. The conventional HOS has already helped over 300 000 families buy their homes. We believe that we should introduce more targeted measures in light of the latest situation to help the sandwich class purchase their own flats.
24. As to whether the Government should offer loans to these prospective home buyers, many consider that home ownership loan schemes may lure some families into acquiring properties they cannot afford. Some are also concerned that such a scheme will spur short-term demand for properties, which will further push up property prices.