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WEDNESDAY, JULY 8, 1987
ON THE OTHER HAND, HE SAID THE PSPS CARRIED ALL THE MERITS OF THE LOAN SCHEME WITHOUT THE LATTER'S DEFECTS. "THE PSPS NOT ONLY REAPS FOR GOVERNMENT LAND PREMIUM PLUS INTEREST FROM PRIVATE DEVELOPERS; BUT LIKE THE HOME OWNERSHIP SCHEME (HOS), ALSO GENERATES REGULAR PROFITS FROM THE SALE OF FLATS."
"WITH PRIVATE DEVELOPERS FINANCING AND BUILDING FLATS TO GOVERNMENT'S SPECIFICATIONS, THE ONLY COST GOVERNMENT HAS TO BEAR IS ADMINISTRATIVE EXPENSES.
"SINCE PSPS FLATS ARE READILY CONVERTIBLE BACK TO PRH WHEN DEMAND AND SUPPLY SITUATION REQUIRES, THE SCHEME OFFERS A IDEAL STRATEGY FOR GOVERNMENT TO MEET THE GROWING DEMAND FOR PURCHASE WITH MINIMUM FINANCIAL COMMITMENT ON ITS PART.
UNITS
MOST
HOME
FOR
HOME
HE SAID IF GOVERNMENT WAS ANXIOUS TO MEET THE DEMAND PURCHASE, THEN IT HAD TO INCREASE ITS COMMITMENT IN TERMS OF LAND, MONEY AND STAFF RESOURCES FOR BUILDING MORE HOS AND PSPS FLATS.
"FURTHERMORE, IT SHOULD CONSIDER CONSTRUCTING
DIFFERENT TYPES
OF LOW COST HOUSING UNITS SUITED TO THE NEEDS OF VARIOUS CATEGORIES OF LOW INCOME HOME BUYERS.
INTERVENTION IN
"WHILE STRONGLY DISAGREEING WITH GOVERNMENT'S THE PROPERTY MARKET, I WISH TO POINT OUT THAT THE HPLS OUGHT ΤΟ BE PURSUED AS A SUPPORTING STRATEGY TO SATISFY THE DEMAND LEFT UNSATISFIED BY HOS/PSPS FLATS PRODUCTION.
"IN THIS RESPECT, A CORRECT BALANCE BETWEEN PUBLIC AND PRIVATE HOUSING PRODUCTION SHOULD BE KEPT CONSTANTLY UNDER REVIEW IN ACCORDANCE WITH THE DEMAND AND SUPPLY SITUATION; AND IF NECESSARY, A LIMIT ON THE PERCENTAGE INCREASE OF FLAT PRICES SHOULD BE IMPOSED.
MR HUI ALSO POINTED OUT THAT THERE WAS EVERY REASON TO BELEIVE THAT GOVERNMENT MIGHT HAVE OVER-ESTIMATED THE DEMAND FOR HOME PURCHASE AMONG ITS PUBLIC HOUSING TENANTS WHOSE INCOME AND LIVING STANDARD COULD HARDLY QUALIFY THEM FOR HPLS FLATS.
+
THE FACT THAT SOME 45 PER CENT OF PRH TENANTS IS ESTIMATED TO HAVE EXCEEDED THE WAITING LIST INCOME LIMIT CANNOT BE EQUATED WITH THE NUMBER OF HOME PURCHASERS; SINCE MANY OF THEM WOULD CHOOSE TO STAY IN PRH UNITS WITH IMPROVED AMENITIES."
HE SAID RATHER THAN PROVIDING THESE PEOPLE WITH A DOUBLE SUBSIDY THROUGH THE LOAN SCHEME, ASSISTANCE SHOULD BE GIVEN то PRIVATE HOUSING TENANTS WHO DID NOT QUALIFY FOR PUBLIC HOUSING.
"THIS MARGINAL