Hong Kong considers relaunching tenant purchase scheme but not in short term

Hong Kong authorities are considering relaunching a scheme that lets public flat tenants purchase their rented property at discounted prices, but it will not be introduced in the near future due to concerns about maintaining control over the public housing supply.

Secretary for Housing Winnie Ho Wing-yin said on Sunday that authorities need to study the pricing, timing and number of flats to be offered before a pilot scheme could be launched, which would take a considerable amount of time.

Speaking on a TV programme on Sunday, Ho said the government would not reintroduce the scheme quickly, fearing that its dominant role in housing supply would be shifted to the private sector.

“[It is important] to balance the government’s dominance when we re-plan or reconsider the Tenant Purchase Scheme,” she said.

“Introducing the scheme at an appropriate time would be vital to the success of the scheme,” Ho added, confirming that the scheme would only be relaunched when the waiting time for public housing reached a level deemed acceptable by authorities.

Although sources had leaked that Chief Executive John Lee Ka-chiu planned to reintroduce the Tenant Purchase Scheme – active between 1998 and 2006 – in his policy address earlier this month, he ultimately did not do so.