Hong Kong will give people aged under 40 a leg-up towards owning their own homes by allocating them an extra vote in the ballot for subsidised flats, Chief Executive John Lee said. Lee announced the new measure in his third Policy Address on Wednesday , along with other measures to help young people find their own place to live. “The Hong Kong Housing Authority will allocate an extra ballot number to young family applicants and one‐person applicants aged below 40 with White Form status for the purchase of Home Ownership Scheme (HOS) flats from the next HOS sale exercise onwards,” Lee said.
Starting from the next White Form Secondary Market Scheme exercise, the Housing Authority will also allocate 1,500 extra flats for young family applicants and one-person applicants under the age of 40, Lee announced. See also: Hong Kong to phase out subdivided units under 8 sq. metres, but ‘coffin homes’ to stay The move comes amid government calls for young people not to “lie flat” by keeping their income below the limit allowed for public housing.
Lee, this July, urged young people to strive towards their aspirations and to reconsider settling for a subsidised rental flat . “Lying flat” is a term that originated in mainland China to describe disaffected youngsters who disengage from society by doing only the bare minimum required. Hong Kong families with a maximum gross monthly income of HK$60,000 and assets worth HK$1.
23 million or below, or single-person households ear.