UN
FRIDAY, AUGUST 24, 1954
+NEVERTHELESS, THERE COULD BE MANY REASONS WHICH MAY PREVENT A PUBLIC HOUSING TENANT FROM BUYING HOS FLATS.
+FOR EXAMPLE, THERE MAY BE UNCERTAINTY ABOUT HIS FUTURE HOUSEHOLD INCOME, AND HOS FLAT PURCHASERS ARE DEBARRED FROM RE-ENTRY INTO RENTAL HOUSING. OR, THE TENANT MAY NOT WISH TO COMMIT TO A LONG-TERM FINANCIAL OUTLAY.+
HE SUGGESTED THAT SOME OF THE HOS-PSPS FLATS BE TRANSFERRED TO THE RENTAL HOUSING PROGRAMME TO BE LET TO WELL-OFF TENANTS WHO ASPIRED TO BETTER LIVING STANDARDS AND COULD WELL AFFORD HIGHER RENTS.
+RENTS COULD BE CHARGED AT A LEVEL TO RECOVER COSTS, BUT WOULD STILL BE BELOW THE MARKET RENTS.
+IN THIS WAY GOVERNMENT WILL REDUCE SUBSIDY TO WELL-OFF TENANTS AND DIVERT RESOURCES TO HELPING THOSE WHO ARE IN GREATER NEED. PURCHASERS OF HOS FLATS WHO, BECAUSE OF FINANCIAL HARDSHIP, CANNOT COMPLETE THE MORTGAGE REPAYMENT COULD ALSO BE CONSIDERED FOR SUCH EXPENSIVE RENTAL HOUSING TO HELP THEM TO TIDE OVER THEIR DIFFICULTIES.
+THERE WOULD THEN BE TWO LEVELS OF RENTAL HOUSING, CHARGED AT SUBSIDISED AND COST-RECOVERY RENTS, AND TWO LINES OF HOS FLATS, ONE BEING CHEAPER AND MORE AKIN TO RENTAL HOUSING.
+WITH THIS SCENARIO, THE PUBLIC HOUSING PROGRAMME WOULD BE MORE COMPREHENSIVE, CATERING FOR LOWER-MIDDLE INCOME FAMILIES WITH DIFFERENT NEEDS AND ASPIRATIONS.+
MR SIN SAID IT WOULD BE A GOOD POLICY OF THE AUTHORITY TO MAINTAIN FLEXIBILITY IN ITS PROGRAMME SO THAT IT COULD QUICKLY RESPOND TO CHANGES IN THE PROPERTY MARKET.
+IF AT ANY TIME PRIVATE DEVELOPERS ARE CAPABLE OF PROVIDING SUFFICIENT FLATS TO CATER FOR THE DEMAND OF HOUSE-OWNERS AT LOWER-MIDDLE INCOME LEVELS, THE AUTHORITY SHOULD HAVE THE FLEXIBILITY TO CONVERT ITS FLATS FOR SALE INTO FLATS FOR RENTS.+
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