OHKF: Lantau Tomorrow Vision is considerable for better living quality

出自香港新聞網 - 樹仁新傳系學生實習習作

By Matthew Chan January 29, 2019

Lantau Tomorrow Vision should be considered as a long-term solution for improving citizens’ living environment, since Hong Kong’s property prices are continuously rising, a researcher says.

“Present living environment of a Hong Kong flat is equal to the bedrooms and toilets of Mainland China and Singapore, more and more nano flats were built and emerging the market,” said Alvin Cheung Pok-yu, senior researcher of Our Hong Kong Foundation (OHKF).

Cheung reckoned Lantau Tomorrow Vision is not only a feasible policy to provide more housings for citizens, but more effectively to provide larger and better apartments.

Hong Kong has been ranked as the world’s least affordable housing market for nine consecutive years, according to the Demographia International Housing Affordability Study published last week.

Cheung said the housing affordability in Hong Kong is “nearly impossible” in contrast to other countries. “Young people cannot afford a tiny flat, which I am also a ‘generation rent’,” he said.

He said Hong Kong’s homeownership rate is declining, while the average income growth rate cannot meet the inflation rate of housing prices, therefore multiple policies should be implemented to eliminate the worsening housing problem, while Lantau Tomorrow is a long-term solution.

Besides, he said the 150 quota of One-way Permit Scheme has intensified the local land resources, as they increase the queue of waiting public housings.

“The government should increase resources while more people (Mainland residents settling in Hong Kong through One-way Permit Scheme) are coming to Hong Kong,” said Cheung.

Moreover, Cheung said the government should allocate more resources on the educational expenditure, such as increasing the number of publicly funded undergraduate places to enhance inter-generational mobility.

Cheung said, “Hong Kong government’s expenditure on education only consumes 3.3% of the overall GDP, it is not enough,” said Cheung.