Housing in Hong Kong
Encyclopedia
Housing in Hong Kong varies by location and income.
Almost 7 million people live on about 1,108 km² (427 mi²) of space in Hong Kong
.
was 6.6 million. The breakdown by type of housing was as follows:
Subsidized sale flats listed here are not tradeable in the open market.
In 2009, 53.9% of the 2.3 million domestic households were owner-occupier
s.
In 2004/2005, housing expenditures were accounting for an average of 30.6% of the average monthly household expenditures, with utilities accounting for an additional 3.4%.
is a major component of the housing in Hong Kong. About half of Hong Kong residents now live in public housing estate
s and other tower blocks with some form of subsidy. The history of public housing in Hong Kong can be traced back to 1953, when a fire in Shek Kip Mei
destroyed the shanty
homes of approximately 53,000 people. As a consequence, the Hong Kong Government
commenced a programme of mass public housing, providing affordable homes for those on low incomes.
Several subsidized home ownership programs have been implemented, including: Home Ownership Scheme
, Flat-for-Sale Scheme, Tenants Purchase Scheme
, Sandwich Class Housing Scheme
and Private Sector Participation Scheme.
is ranked the 3rd most expensive city in the world in 2007 with a square foot per unit pricing of US
$2,008 behind London
and Monaco
Almost 7 million people live on about 1,108 km² (427 mi²) of space in Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
.
Housing statistics
According to the 2006 census, the total Hong Kong populationDemographics of Hong Kong
This article is about the demographic features of the population of Hong Kong, including population density, ethnicity, education level, health of the populace, economic status, religious affiliations and other aspects of the population....
was 6.6 million. The breakdown by type of housing was as follows:
- Public rental housing: 31.0%
- Housing AuthorityHong Kong Housing AuthorityThe Hong Kong Housing Authority is the main provider of public housing in Hong Kong. It was established in 1973 under the Housing Ordinance and is an agency of the Government of Hong Kong...
subsidized sale flats: 17.1% - Housing SocietyHong Kong Housing SocietyThe Hong Kong Housing Society or Housing Society for short, is the second largest public housing provider in Hong Kong . The HKHS is a non-governmental organization and non profit organization that was founded in 1948 by "members coming from all walks of life" with a donation of £14,000...
subsidized sale flats: 0.7% - Private permanent housing: 49.3%
- Temporary housing: 0.7%
- Non-domestic housing: 1.2%
Subsidized sale flats listed here are not tradeable in the open market.
In 2009, 53.9% of the 2.3 million domestic households were owner-occupier
Owner-occupier
An owner-occupier is a person who lives in and owns the same home. It is a type of housing tenure. The home of the owner-occupier may be, for example, a house, apartment, condominium, or a housing cooperative...
s.
In 2004/2005, housing expenditures were accounting for an average of 30.6% of the average monthly household expenditures, with utilities accounting for an additional 3.4%.
Public housing
Public housingPublic housing
Public housing is a form of housing tenure in which the property is owned by a government authority, which may be central or local. Social housing is an umbrella term referring to rental housing which may be owned and managed by the state, by non-profit organizations, or by a combination of the...
is a major component of the housing in Hong Kong. About half of Hong Kong residents now live in public housing estate
Housing estate
A housing estate is a group of buildings built together as a single development. The exact form may vary from country to country. Accordingly, a housing estate is usually built by a single contractor, with only a few styles of house or building design, so they tend to be uniform in appearance...
s and other tower blocks with some form of subsidy. The history of public housing in Hong Kong can be traced back to 1953, when a fire in Shek Kip Mei
Shek Kip Mei
Shek Kip Mei, originally known as Kap Shek Mi, is an area in New Kowloon, the North Eastern Kowloon Peninsula of Hong Kong.-History:A major fire on 25 December 1953, destroyed the Shek Kip Mei shantytown of immigrants from Mainland China that had fled to Hong Kong, leaving 53,000 people...
destroyed the shanty
Shanty town
A shanty town is a slum settlement of impoverished people who live in improvised dwellings made from scrap materials: often plywood, corrugated metal and sheets of plastic...
homes of approximately 53,000 people. As a consequence, the Hong Kong Government
Government of Hong Kong
The Government of the Hong Kong Special Administrative Region of the People's Republic of China, commonly the Hong Kong Government, is led by the Chief Executive as Head of the Government, who is also the head of the Hong Kong SAR...
commenced a programme of mass public housing, providing affordable homes for those on low incomes.
Several subsidized home ownership programs have been implemented, including: Home Ownership Scheme
Home Ownership Scheme
The Home Ownership Scheme is a subsidized-sale programme of public housing in Hong Kong managed by the Hong Kong Housing Authority...
, Flat-for-Sale Scheme, Tenants Purchase Scheme
Tenants Purchase Scheme
Tenants Purchase Scheme is a scheme which allows tenants in public housing estates under Hong Kong Housing Authority to purchase their flats...
, Sandwich Class Housing Scheme
Sandwich Class Housing Scheme
Sandwich Class Housing Scheme was a scheme by the Hong Kong Housing Society for building apartments that were sold to middle-income families, i.e. sandwich class, at concessionary prices during the 1990s. The purchases were subject to a five-year resale restriction. The first development, Tivoli...
and Private Sector Participation Scheme.
Segmentation
In the high-end market, the PeakVictoria Peak
Victoria Peak is a mountain in Hong Kong. It is also known as Mount Austin, and locally as The Peak. The mountain is located in the western half of Hong Kong Island...
is ranked the 3rd most expensive city in the world in 2007 with a square foot per unit pricing of US
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
$2,008 behind London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
and Monaco
Monaco
Monaco , officially the Principality of Monaco , is a sovereign city state on the French Riviera. It is bordered on three sides by its neighbour, France, and its centre is about from Italy. Its area is with a population of 35,986 as of 2011 and is the most densely populated country in the...
Housing estates
- Public housing estatePublic housing in Hong KongPublic housing in Hong Kong is a set of mass housing programmes through which the Government of Hong Kong provides affordable housing for lower-income residents. It is a major component of housing in Hong Kong, with nearly half of the population now residing in some form of public housing...
- Private housing estatePrivate housing estateA private housing estate is a term in Hong Kong that refers to a housing estate developed by a private developer, as opposed to a public housing estate built by the Hong Kong Housing Authority or the Hong Kong Housing Society. It usually is characterised with a cluster of high-rise buildings,...
Traditional and historical housing
- Tong LauTong LauTong Lau or Kee-lau are tenement buildings built in late 19th century to the 1960s in Hong Kong, Macau, southern China and Taiwan...
- Pang ukPang ukPang uk is a kind of stilt house found in Tai O, Lantau Island, Hong Kong. Pang uk are built on water or on small beaches....
- Walled villages of Hong KongWalled villages of Hong KongOnce common throughout China, walled villages can still be found in southern China and Hong Kong. Most of the walled villages in Hong Kong are located in the New Territories...
See also
- Architecture of Hong KongArchitecture of Hong KongThe Architecture of Hong Kong features great emphasis on Contemporary architecture, specially Modernism, Postmodernism, Functionalism, etc. Due to the lack of available land, few historical buildings remain in the urban areas of Hong Kong. However, Hong Kong has become a centre for modern...
- Small House PolicySmall House PolicyThe Small House Policy was introduced in 1972 in Hong Kong. The objective was to improve the then prevailing low standard of housing in the ruralareas of the New Territories...
- Demographics of Hong KongDemographics of Hong KongThis article is about the demographic features of the population of Hong Kong, including population density, ethnicity, education level, health of the populace, economic status, religious affiliations and other aspects of the population....
- Economy of Hong KongEconomy of Hong KongAs one of the world's leading international financial centres, Hong Kong has a major capitalist service economy characterised by low taxation and free trade, and the currency, Hong Kong dollar, is the ninth most traded currency in the world. Hong Kong has remained as the world's freest economy,...
- Asian property marketAsian Property MarketEver since the 1997 Asian financial crisis, property markets have greatly developed through the years. Asian governments have improved the financial stance associated with the structure of housing finance, allowing more access to a diverse range of mortgages products.Housing in Asia has an...
- Housing in JapanHousing in JapanHousing in Japan includes modern and traditional styles. Two patterns of residences are predominant in contemporary Japan: the single-family detached house and the multiple-unit building, either owned by an individual or corporation and rented as apartments to tenants, or owned by occupants...
- Housing in IndiaHousing in IndiaHousing in India varies greatly and reflects the socio-economic mix of its vast population.Housing varies from palaces of erstwhile maharajas in Rajasthan to swanky apartment buildings in big cities to tiny huts in far-flung villages...