Home-ownership under economic uncertainty : The role of subsidised sale flats in Hong Kong

Research output: Journal Publications and Reviews (RGC: 21, 22, 62)21_Publication in refereed journalpeer-review

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  • James Lee
  • Ngai Yip


Original languageEnglish
Pages (from-to)61-78
Journal / PublicationThird World Planning Review
Issue number1
Publication statusPublished - Feb 2001


Home-ownership in Hong Kong has been hailed as the preferred tenure during the past two decades. Since 1987 the government has pursued a home-ownership policy, mainly by encouraging private-sector development and by providing a limited number of flats for sale. While home-ownership is still cherished as the bulwark of housing policy, the Asian financial crisis of 1997 has made it extremely risky. This paper is concerned with the risks of home-ownership, its relationship with the economy and the implications of a home-ownership policy for the role of the state. It is argued that while home-ownership may be risky the state, through appropriate institutional arrangements, can share risk and responsibilities with home-owners.