HongKong

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Government Schemes

Sections

1. Public Rental Housing (PRH)

The Public Rental Housing (PRH) program is designed to provide affordable rental housing to low-income families who cannot afford private housing.

Eligibility Criteria:

  • Income and Asset Limits: Applicants must meet specific income and asset limits, which vary depending on household size. For example, as of 2023, a 2-person household must have a monthly income below HKD 20,580 and total assets below HKD 338,000.
  • Residency: At least one family member must be a Hong Kong Permanent Resident.
  • Age: The applicant must be at least 18 years old.
  • No Property Ownership: Applicants must not own any residential property in Hong Kong.

Costs:

  • Rent is heavily subsidized and varies depending on the size and location of the flat. For example, monthly rents can range from HKD 300 to HKD 3,000.

Application Procedure:

  1. Submit an Application: Applications can be submitted online or via paper forms available at the Hong Kong Housing Authority (HKHA) offices.
  2. Wait for Allocation: Due to high demand, the waiting time is long, averaging 5.5 years for general applicants and 3 years for elderly applicants.
  3. Flat Allocation: Once approved, applicants are invited to select a flat based on availability.

Local Considerations:

  • The waiting time for PRH is long, so itโ€™s advisable to apply as early as possible.
  • Flats are basic and may require additional furnishing.

2. Home Ownership Scheme (HOS)

The Home Ownership Scheme (HOS) helps eligible residents purchase subsidized flats at below-market prices.

Eligibility Criteria:

  • Income and Asset Limits: Similar to PRH, applicants must meet income and asset limits. For example, a 2-person household must have a monthly income below HKD 60,000 and total assets below HKD 1.96 million.
  • Residency: At least one family member must be a Hong Kong Permanent Resident.
  • No Property Ownership: Applicants must not own any residential property in Hong Kong.

Costs:

  • Flats are sold at a discount, typically 30-50% below market value. Prices vary depending on the location and size of the flat.

Application Procedure:

  1. Submit an Application: Applications are accepted during specific sale periods announced by the HKHA.
  2. Balloting: A lottery system is used to determine the order of flat selection.
  3. Flat Selection and Purchase: Successful applicants can choose and purchase a flat.

Local Considerations:

  • HOS flats are subject to resale restrictions. Owners cannot sell their flats on the open market within the first 5 years unless they pay a premium to the government.
  • Flats are often located in new towns or less central areas.

3. Green Form Subsidised Home Ownership Scheme (GSH)

The GSH is a variation of the HOS, targeting existing PRH tenants and applicants on the PRH waiting list.

Eligibility Criteria:

  • Green Form Status: Applicants must either be current PRH tenants or PRH applicants who have passed the eligibility screening.
  • Residency: At least one family member must be a Hong Kong Permanent Resident.

Costs:

  • Flats are sold at a discount, similar to HOS flats.

Application Procedure:

  1. Submit an Application: Applications are accepted during specific sale periods.
  2. Balloting: A lottery system determines the order of flat selection.
  3. Flat Selection and Purchase: Successful applicants can choose and purchase a flat.

Local Considerations:

  • This scheme allows PRH tenants to transition to homeownership, freeing up PRH flats for others in need.

4. Tenants Purchase Scheme (TPS)

The TPS allows PRH tenants to purchase the flats they are currently renting at a discounted price.

Eligibility Criteria:

  • PRH Tenants: Only tenants of designated PRH estates are eligible.
  • Residency: At least one family member must be a Hong Kong Permanent Resident.

Costs:

  • Flats are sold at a significant discount, with prices depending on the flatโ€™s size, location, and age.

Application Procedure:

  1. Notification: Eligible tenants are notified when their estate is included in the TPS.
  2. Purchase Agreement: Tenants can choose to purchase their flat by signing a purchase agreement.

Local Considerations:

  • TPS flats are subject to resale restrictions similar to HOS flats.

5. Subsidy for Non-Public Housing Residents

The government occasionally provides one-off subsidies to low-income households living in private rental housing.

Eligibility Criteria:

  • Income and Asset Limits: Applicants must meet specific income and asset limits.
  • Residency: At least one family member must be a Hong Kong Permanent Resident.
  • No PRH or HOS Ownership: Applicants must not be current PRH tenants or HOS flat owners.

Costs:

  • This is a subsidy, so no repayment is required.

Application Procedure:

  1. Submit an Application: Applications are typically submitted during specific periods announced by the government.
  2. Approval and Payment: Approved applicants receive the subsidy directly.

Local Considerations:

  • This is a temporary measure and not a long-term housing solution.

6. Youth Hostel Scheme

The Youth Hostel Scheme provides affordable rental housing for working youth to encourage independence and mobility.

Eligibility Criteria:

  • Age: Applicants must be aged 18-30.
  • Employment: Applicants must be employed.
  • Residency: Applicants must be Hong Kong Permanent Residents.
  • No Property Ownership: Applicants must not own any residential property in Hong Kong.

Costs:

  • Rent is set at below-market rates, typically around 60% of market rent.

Application Procedure:

  1. Submit an Application: Applications are accepted during specific periods announced by the operating organization.
  2. Approval and Allocation: Successful applicants are allocated a hostel unit.

Local Considerations:

  • Tenancy is limited to a maximum of 5 years.
  • Hostels are often located in less central areas.

General Tips for Navigating Housing Schemes in Hong Kong:

  1. Stay Updated: Housing policies and eligibility criteria are subject to change. Regularly check the Hong Kong Housing Authority (HKHA) website for updates.
  2. Prepare Documents: Ensure you have all necessary documents, such as proof of income, residency, and family composition, ready for application.
  3. Be Patient: Due to high demand, waiting times for housing schemes can be long.
  4. Consider Location: Many subsidized flats are located in new towns or less central areas, so consider your commute and access to amenities.

By understanding these schemes and their requirements, you can better navigate Hong Kongโ€™s housing system and find a solution that suits your needs. Let me know if you need further assistance!