Asia

    Hong Kong's Soaring Housing Prices Hit City's Pooresti
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    Zlatica Hoke
    July 19, 2014 7:01 PM
    Rising housing prices in Hong Kong are squeezing out low-income residents and often force them into unsafe and illegal living arrangements. Many have built rickety dwellings on rooftops of highrise buildings or rent them from shady landlords. Residents of these slums have poor protection against extreme heat and inclement weather. Zlatica Hoke reports the city government is unable to meet the growing need for affordable public rental housing.

    Hong Kong's Soaring Housing Prices Hit City's Poorest

    Zlatica Hoke

    Published July 19, 2014

    Rising housing prices in Hong Kong are squeezing out low-income residents and often force them into unsafe and illegal living arrangements. Many have built rickety dwellings on rooftops of highrise buildings or rent them from shady landlords. Residents of these slums have poor protection against extreme heat and inclement weather. Zlatica Hoke reports the city government is unable to meet the growing need for affordable public rental housing.


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    Comments
         
    by: Frankie Fook-lun Leung from: Los Angeles
    July 29, 2014 10:47 PM
    The reason why the Hong Kong government cannot control the housing property situation is that no competent people want to join the government as advisors or top civil servants.

    by: Frankie Fook-lun Leung from: Los Angeles
    July 26, 2014 1:05 AM
    Hong Kong govrnment's main source of income is sale of land and property taxes in terms of rates. Now there are more than 7 million people. Not enough low cost housings have been built. Real estate developers are billionaires. They go into business which dominate the lives of the people. Even commercial real estate is so expensive that many shops cannot afford to do business.

    by: Frankie Fook-lun Leung from: Los Angeles
    July 25, 2014 12:43 PM
    Many Hong Kong people especially those who are no longer productive like retirees will have to leave Hong Kong to live in Mainland China. Young people who try to start a family will find it extremely difficult. Those who still can do well are in the financial and possibly professional sectors. Polarization is become intolerable. You should not be surprised if there will be riots in the street, expressing grievances and mismanagement by the government.