Hong Kong's property market hot young people hard to bear high building prices

Xinhua Beijing, November 23, according to the Hong Kong "Big Bulletin" reported that the Hong Kong property market is hot, the general public, especially young people cannot afford expensive property prices. The Hong Kong Federation of Young People's Tertiary Students Association held a street forum 22nd to ask the SAR government to take into account the needs of young people to buy homes.　　Members of the Legislative Council and housing organizations present at the Forum suggested that the SAR government should consider building hos flats and reviving the home starter loan scheme so that young people can realize their dream of home ownership.　　The Association 22nd invited the Chairman of the Legislative Council housing panel, Hing, Vice-chairman Feng Yueki and the chairman of the Public Housing association, Wang to hold a street forum to discuss the issue of youth home ownership. Lu Jinmei said that the current property prices exceed the level that young people can afford and make it difficult for young people to realize their home dream, "many college students start saving after graduation, and they can afford it in 10, but they will have to provide 10-20-year building in the future."　　She said that home ownership difficulties would also reduce the desire for young people to marry and have children and affect the long-term development of society.　　Hing said that now that the SAR government's housing policy favours property developers and the supply of the property market is demand, the SAR government can no longer sit idly by and propose to restart the Home Starter loan scheme and the rehabilitation of hos flats so that young people can realize their home ownership dream. Mr Frederick Fung said that the present city property market is demand and the SAR government has the responsibility to provide adequate land balance in the property market. Wang that at present, the new high property prices have already affected the prices of lower and middle priced buildings, and if the SAR government is to build hos flats, the property market will be able to achieve benign interaction.