Business / Industries

Young people apply for HK public rental housing

(China Daily) Updated: 2012-11-29 13:33

More than half of the 93,000 non-elderly single applicants on the waiting list for Public Rental Housing are under 30, Yau Ching-mu, acting secretary for transport and housing, said on Wednesday.

Speaking at a Legislative Council meeting on education, employment, housing and entrepreneurship among young people, Yau said that more than 30 percent of the young applicants have tertiary education diplomas. Acknowledging the need that young people have for affordable housing, Yau said the government has to allocate housing resources to the most needy.

As for a suggestion to re-launch the Home Starter Loan Scheme, Yau replied that the scheme has resulted in HK$490 million in bad debts. In the midst of adverse economic conditions, the government has to consider its options carefully, he said.

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