The Challenges Faced by Young Singles in Hong Kong’s Housing Market

In Hong Kong, the number of non-elderly one-person applicants for public rental flats aged below 30 has decreased from 66,500 in 2017 to 38,600 in 2022. However, a survey revealed that 52% of these young singles hold a tertiary degree or above, highlighting the education level of this demographic.

Despite their qualifications, many young graduates struggle to meet the income threshold required for rental home allocation, which stands at HK$12,940 a month. To address this challenge, authorities are considering adjusting the proportion of public rental housing and subsidised flats for sale from 70-30 to 50-50 in the future.

Lawmakers suggest that increasing the proportion of subsidised second-hand flats allocated to singles could boost homeownership among young people. Additionally, recent measures such as extending the mortgage default guarantee period to 50 years aim to help young individuals in Hong Kong ascend the housing ladder.

Overall, the government encourages young people to pursue homeownership rather than rely solely on subsidized rental housing, offering hope for a brighter housing future in Hong Kong.

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