TNAG-0669-FCO40-818-Policy-on-housing-and-resettlement-in-Hong-Kong-1977 — Page 111

CONFIDENTIAL

機密

11

XCC(77)8

Copy No.

36.

For discussion

on 15th February 1977

MEMORANDUM FOR EXECUTIVE COUNCIL

Introduction

THE HOME OWNERSHIP SCHEME

of 80

BEGRAV IV RE*

18 FEB 1977

HKK 368%,

On 9th November 1976, when considering the proposals, outlined in memorandum XCC(76)75, that the first phase of an initial programme of 6,000 flats should proceed and that the Government should invite the Housing Authority to be its agent for designing, building and selling the flats, Honourable Members were informed that the Working Party on Home Ownership was considering whether it was possible to devise mort- gage facilities to assist persons within a certain income range towards becoming home owners.

2

Briefly, the points which were put to Honourable Members for their information were:

(a) that the Working Party believed that households earning

an income between the financial limit of eligibility for rented public housing (namely, above $1,500 and $2, 200 depending on family size) and $3,500 p.m. were unable to achieve any ambition for home ownership because they could not afford the existing terms available on the open market for mortgage facilities;

(b) that, unlike the poorer sections of the community who

are the main beneficiaries of public services and social benefits, these middle-income households tend to be overlooked but deserve to be helped;

(c) that if a strong demand should exist among this section of the community for purchasing homes on suitable terms the Working Party would have to consider how they should be assisted.

After considering these points, Honourable Members noted that the Working Party would seek further advice when it had proceeded further with its deliberations.

IA

This memorandum:

(a) explains the basic requirements of the Home Ownership

Scheme the Working Party has developed;

CONFIDENTIAL ##