Hong Kong's Tenants Purchase Scheme was a bold experiment in public housing sales that achieved partial success but left thorny issues. Though discontinued, eligible tenants can still claim discounts, yet interest in the remaining stock remains low. A Housing Authority survey last year found only 12 percent would consider buying their flats, with 54 percent not interested.
Hong Kong's Tenants Purchase Scheme was launched under former Chief Executive Tung Chee-hwa as part of efforts to promote widespread home ownership through public housing sales. Introduced amid the Asian financial crisis, it involved flats worth HK$5-6 billion but ultimately fell short of its broader vision.
Although the scheme was discontinued years ago, originally eligible tenants can still claim discounts to buy their units. However, interest in the remaining housing stock is low. A Housing Authority survey last year showed only 12 percent of respondents would consider purchasing their flats, against around 54 percent not interested. Over the past decade, interest levels never exceeded 25 percent.
This outcome highlights collisions between the scheme's ideals and economic realities, demographic shifts, and policy incoherence. The opinion argues that before any relaunch, Hong Kong must address these flaws to prevent repeating past issues.
