scholarly journals The Misallocation Problem of Subsidized Housing: A Lesson from Hong Kong

2021 ◽  
Vol 13 (4) ◽  
pp. 1855
Author(s):  
Ka Shing Cheung ◽  
Siu Kei Wong ◽  
Kwong Wing Chau ◽  
Chung Yim Yiu
Keyword(s):  
Hong Kong ◽  
Public Housing ◽  
Affordable Housing ◽  
Panel Data Analysis ◽  
National Policy ◽  
High Mobility ◽  
New Thinking ◽  
Shared Equity ◽  
The Government ◽  
Equity Model

Providing affordable housing has become one of China’s key national policy agenda items. The shared-equity model in Hong Kong, implemented since the late 1970s, has assisted many families in owning a home in the public housing market. However, little attention has been paid to their welfare after acquiring their subsidized units. This study aims to examine how shared-equity homeownership distorts residential mobility through in-kind subsidies. Panel data analysis reveals that the more in-kind subsidies owners receive, the longer they would hold on to their units in spite of spatial mismatches. Private owners, on the other hand, would trade their units without such distortion. Conceptually, the lower mobility of assisted owners could be interpreted as a new source of misallocation in Glaeser and Luttmer’s welfare analysis. Practically, this throws into question the sustainability of a subsidizing homeownership policy: does the government ultimately want assisted homeowners to move from public housing to private housing in the future (for which high mobility would be intended)? If so, new thinking on how to make in-kind subsidies transferable is needed.

scholarly journals Public Housing in the Global Cities: Hong Kong and Singapore at the Crossroads

2021 ◽  
Author(s):  
Anutosh Das
Keyword(s):  
Hong Kong ◽  
Public Housing ◽  
Affordable Housing ◽  
Methodological Approach ◽  
Well Being ◽  
Housing Affordability ◽  
Housing System ◽  
Global Cities ◽  
Political Crises ◽  
The Government

Affordable Housing, the basic human necessity has now become a critical problem in global cities with direct impacts on people's well-being. While a well-functioning housing market may augment the economic efficiency and productivity of a city, it may trigger housing affordability issues leading crucial economic and political crises side by side if not handled properly. In global cities e.g. Singapore and Hong Kong where affordable housing for all has become one of the greatest concerns of the Government, this issue can be tackled capably by the provision of public housing. In Singapore, nearly 90% of the total population lives in public housing including public rental and subsidized ownership, whereas the figure tally only about 45% in Hong Kong. Hence this study is an effort to scrutinizing the key drivers of success in affordable public housing through following a qualitative case study based research methodological approach to present successful experience and insight from different socio-economic and geo-political context. As a major intervention, this research has clinched that, housing affordability should be backed up by demand-side policies aiming to help occupants and proprietors to grow financial capacity e.g. subsidized rental and subsidized ownership can be an integral part of the public housing system to improve housing affordability.

PROBLEMS OF LARGE-SCALE HOUSING CONSTRUCTION IN RUSSIA

2014 ◽  
Vol 4 (4) ◽  
pp. 10-18 ◽  
Author(s):  
Viktor P. GENERALOV ◽  
Elena M. GENERALOVA
Keyword(s):  
Hong Kong ◽  
Public Housing ◽  
Affordable Housing ◽  
Large Scale ◽  
Living Environment ◽  
Housing Construction ◽  
General Strategy ◽  
Regulatory Documents ◽  
Stage Development

In this article stage-by-stage development of large-scale housing in the territory of Russia before 1990 and stagnation in the last ten years caused by absence of general strategy of living environment amenities is viewed. Problems of elaboration of affordable housing new standards are explored, existing regulatory documents are analyzed. In that context Hong Kong experience in large-scale public housing is given as an example.

scholarly journals Gender Diversity and Ownership Structure of Malaysian Firms in the Real Estate Sector

2018 ◽  
pp. 915-923
Author(s):  
Noor Afza Amran ◽  
Zaimah Abdullah ◽  
Rokiah Ishak
Keyword(s):  
Firm Performance ◽  
Real Estate ◽  
Panel Data Analysis ◽  
Gender Diversity ◽  
National Policy ◽  
The Body ◽  
Positive Direction ◽  
The Real ◽  
The Real Estate ◽  
The Government

This study aims to examine the relationship between gender diversity and real estate companies’ performance in Malaysia, whereby in 1985, the Government of Malaysia formulated a National Policy on Women as a guide for women’s participation. Panel data analysis was used to examine the gender diversity and real estates’ performance in an unbalanced panel of 549 observations for the years 2012-2015. The authors utilised an agency theory to inform the discussion of this paper’s findings. This study finds that the woman directors in the real estate companies are dominated by family-companies. The existence of block holders enhances the firm governance by monitoring the board activities which in turn increase their effectiveness and efficiency that lead to a higher firm performance. Both the managerial ownership and the institutional investors are significant in determining the firm’s performance. The reason may be due to higher ownership controlled by managerial and investor which makes them have a say in a company and try to pursue their objectives rather than the stakeholders’ interests. The findings have contributed to the body of knowledge especially on the women participation in Malaysia, and their contributions. Gender diversity does not destroy the firm performance; in fact, Malaysian companies should focus on the right combination of men and women on the board, rather than the presence of at least a woman on a board of directors. The findings outlay the scenario of women’s involvement in the real estate companies in Malaysia. There is a positive direction for women’s involvement in the board, but it is still a long way to go. Very limited studies delved on gender diversity and real estate companies in Malaysia, even though there is a policy by the Government on women involvement in Malaysia.

Entry and exit affordability of shared equity homeownership: an international comparison

2019 ◽  
Vol 13 (5) ◽  
pp. 737-752
Author(s):  
Ka Shing Cheung ◽  
Siu Kei Wong
Keyword(s):  
Affordable Housing ◽  
Low Income ◽  
Mainland China ◽  
International Comparisons ◽  
Entry And Exit ◽  
Content Type ◽  
Housing Option ◽  
The Usa ◽  
Shared Equity ◽  
The Government

Purpose Shared equity homeownership is a form of subsidised, resale-restricted housing through which lower-income households can sustain their affordability. This paper aims to distinguish two types of affordability within shared equity homeownership: “entry affordability” indicates how affordable subsidised housing is when a household first becomes a subsidised owner; while “exit affordability” means how affordable private housing is after a household has enjoyed subsidised homeownership for a period of time. Design/methodology/approach Using price-to-income ratios, this study compares the entry and exit affordability of shared equity homeownership programs in Australia, Mainland China, Hong Kong, Norway, the UK and the USA. Based on these international comparisons, this study generalises two distinct types of shared equity homeownership models, namely, the models of “share-to-buy” and “share forever”. A new model, “follow-as-you-go”, is further suggested to increase the elasticity of potential affordable housing supply by providing incentives for existing subsidised homeowners to move. Findings A key finding of this study is that while shared equity homeownership programs can improve entry affordability, homeowners’ exit affordability is weak when subsidised homeowners have to share their capital gain with the government. While many housing policy discussions around the world that support shared equity homeownership focus only on the improvement of entry affordability, these discussions usually ignore the importance of exit affordability. This study attempts to fill the void in the understanding of these two types of affordability. Originality/value Shared equity homeownership policy is not only about offering low-income households but also an affordable housing option. It is also about facilitating well-off subsidised homeowners to move up the housing ladder so that the affordable housing option can be freed up for others in need. In a word, it is not only entry affordability but also exit affordability that matters.

Forgotten Obstacles, Neglected Forces: Explaining the Origins of Hong Kong Public Housing

1989 ◽  
Vol 7 (2) ◽  
pp. 179-196 ◽  
Author(s):  
A Smart
Keyword(s):  
Hong Kong ◽  
Private Sector ◽  
Public Housing ◽  
Affordable Housing ◽  
The State ◽  
Public Welfare ◽  
Historical Background ◽  
Property Development ◽  
The Third ◽  
Labour Power

There are three explanations in the literature for Hong Kong embarking upon the state provision of housing in 1954. One explanation sees this provision as an inevitable response to the inability of the private sector to provide affordable housing for the influx of immigrants after 1945. The second interprets it as support for the property development industry, rather than for public welfare. The third explanation traces the intervention to the need to reproduce labour power, All three explanations may be criticized for faulty reasoning and for misinterpreting the historical background of the involvement. An argument is made for more attention to the autonomy, although limited, of the state and to the actual and potential resistance of squatters in producing the outcome of squatter resettlement and not just squatter clearance.

Some aspects of the idea of unity V. Solovyov and the present

2000 ◽  
pp. 20-25
Author(s):  
O. O. Romanovsky
Keyword(s):  
Nineteenth Century ◽  
National Policy ◽  
The State ◽  
Place Of Residence ◽  
The Government ◽  
The University ◽  
Temporary Closure

In the second half of the nineteenth century, the nature of the national policy of Russia is significantly changing. After the events of 1863 in Poland (the Second Polish uprising), the government of Alexander II gradually abandoned the dominant idea of ​​anathematizing, whose essence is expressed in the domination of the principle of serving the state, the greatness of the empire. The tsar-reformer deliberately changes the policy of etatamism into the policy of state ethnocentrism. The manifestation of such a change is a ban on teaching in Polish (1869) and the temporary closure of the University of Warsaw. At the end of the 60s, the state's policy towards a five million Russian Jewry was radically revised. The process of abolition of restrictions on travel, education, place of residence initiated by Nicholas I, was provided reverse.

Byelorussian Nationalism and Western Russianism: the Problem of Confrontation

2020 ◽  
Vol 58 ◽  
pp. 161-168
Author(s):  
Alexander D. Gronsky
Keyword(s):  
19Th Century ◽  
Political Representation ◽  
National Policy ◽  
Negative Attitude ◽  
Great Patriotic War ◽  
The Government ◽  
The 19Th Century ◽  
The Relationship

The article examines the relationship between Western Russianism (Zapadnorusizm) and Byelorussian nationalism. Byelorussian nationalism is much younger than Western Russianism, finally shaping only in the end of the 19th century. Before 1917 revolution Byelorussian nationalism could not compete with Western Russianism. The national policy of the Bolsheviks contributed to the decline of Western Russianism and helped Byelorussian nationalism to gain stronger positions. However, Byelorussian nationalists actively cooperated with the occupation authorities during the Great Patriotic war. That caused distinctly negative attitude of Byelorussians towards the movement and collaborators. Currently, Byelorussian nationalism is supported both by the opposition and by the government. Western Russianism has no political representation, but is supported by the majority of Byelorussian population.

STRATEGI PEMBERDAYAAN BURUH MIGRAN PEREMPUAN INDONESIA DI HONGKONG

2009 ◽  
Vol 8 (2) ◽  
pp. 59-72
Author(s):  
Tyas Retno Wulan ◽  
Lala M. Kolopaking ◽  
Ekawati Sri Wahyuni ◽  
Irwan Abdullah
Keyword(s):  
Hong Kong ◽  
Migrant Workers ◽  
Financial Management ◽  
Practical Knowledge ◽  
Social Remittances ◽  
Central Java ◽  
The Social ◽  
Ethical Work ◽  
The Government ◽  
Female Migrant

Social remittances (ideas, system practice, and social capital flow from the receiving country to the home country) of Indonesian female migrant workers (BMP) in Hong Kong appeared better and more complete than other BMP in other countries like Malaysia, Saudi Arabia, or Singapore.  Based on that research, we are encouraged to do extensive research in order to identify factors  that push  BMP’s social remittances development  in Hong Kong, to identify kinds of social remmitances they receive  and to understand on how far their social remittances become a medium to empower them and their society.  This study is done in qualitative method that uses an in-depth interview technique and FGD.  Subjects of study are BMP, the government (Ministry of Manpower and Transmigration and BNP2TKI), NGOs, migrant workers’ organization and researchers of BMP. The study done in Cianjur (West Java), Wonosobo and Banyumas (Central Java) and Hong Kong indicates that during their migration process, female migrant workers not only have economical remittance that can be used for productive activities, but also social remittances.  The social remittances are in the form practical knowledge such as language skill and nursery; knowledge on health, financial management; ethical work; the mindset changing and networking. The study  indicate that female migrant workers are extraordinary women more than just an ex-helper.  Their migration has put them into a position as an agent of development in society.Key words: Indonesians  female migrant workers, social remmitances, empowerment

Flood alleviation in a heavily urbanized area – Kai Tak Nullah, Hong Kong

2012 ◽  
Vol 7 (4) ◽  
Author(s):  
Alan K. L. Chan ◽  
Colin K. C. Wong ◽  
Robin H. N. Lee ◽  
Mike W. H. Cho
Keyword(s):  
Hong Kong ◽  
Public Engagement ◽  
Urban Areas ◽  
Hydraulic Modelling ◽  
The Public ◽  
Design Considerations ◽  
Urbanized Area ◽  
Development Area ◽  
The Government ◽  
Exercise Design

The existing Kai Tak Nullah flows from Po Kong Village Road along Choi Hung Road and Tung Tau Estate into Kai Tak Development Area before discharging into the Victoria Harbour. Historically its upstream has been subject to flooding under storm conditions and this has had serious repercussions for the adjacent urban areas. A study has been commissioned by the Drainage Services Department of the Government of the Hong Kong Special Administrative Region (HKSAR), China to investigate the flood mechanisms and to provide flood alleviation measures by improving the capacity of the Kai Tak Nullah. In addition to flood alleviation, there is a strong public aspiration to rehabilitate the Kai Tak Nullah by a comparatively natural river design. Since the Kai Tak Nullah is located within a heavily urbanized area, traffic and environmental impacts are also highly concerned. The final flood alleviation scheme has thus had to strike a balance among the aforesaid factors with assistance from the hydraulic modelling utilizing InfoWorks Collection Systems (CS) software. This paper presents the public engagement exercise, design considerations, methodologies, and recommendations regarding the reconstruction and rehabilitation of the Kai Tak Nullah.

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