Hong Kong considers prioritizing wealthy tenants for subsidized flats

Hong Kong lawmakers are suggesting that wealthy public housing tenants should get priority to buy subsidised flats. This idea comes after the government announced plans to raise rent and evict richer households from public rental flats. Lawmaker Lo Wai-kwok proposed that offering priority in buying subsidised homes could motivate these tenants to move up to home ownership. Currently, the Home Ownership Scheme reserves 40 percent of subsidised flats for families with elderly members and those with newborns. These groups already have priority when selecting homes. Lo mentioned that it might be possible to extend similar benefits to richer tenants as an incentive. He emphasized the importance of balancing the needs of wealthier tenants with those of lower-income families waiting for subsidised flats. Man Yu-man, the chairman of the Federation of Public Housing Estates, supported this idea as an effective way to encourage rich tenants to consider buying their own homes.