TNAG-2816-FCO40-4062-Future-of-Hong-Kong-International-Rights-and-Obligations-(IR-1993 — Page 78

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Apart from constructing new housing estates, the improvement of the older housing estates remains an important programme. Much effort has been put into such schemes by redeveloping some of the oldest buildings, providing new

landscaping and additional amenities. Since the commencement of the programme in 1972, considerable progress has been made. By June 1990, more than 606 000 people had moved from old estates either into new estates with converted and fully modernised flats, or into home ownership flats. It is

is expected that the present high level of public housing production will enable the Authority to complete its redevelopment programme by 2001.

To meet the community ́s growing aspirations for home ownership, the government established in 1976 a Home Ownership Scheme under which flats are sold virtually at cost to tenants of public housing and middle-low income

income families in the private housing sector. In order to keep the costs of flats

flats within

within the means of these households, the government introduced in October 1981 a new pricing policy by excluding land premium from future flat prices. Run by the Housing Authority, the scheme has already provided homes for 114 400 families and a further 97000 flats are scheduled to be built in the next five years, including 27 000 flats under

under the Private Sector Participation Scheme (PSPS). The flats built under the PSPS were produced by private sector developers subject to conditions on flat numbers, sizes and standards. These flats were sold at discounted prices in the same way as those produced under the Home Ownership Scheme.

*As a result of a public consultation exercise in 1984, several major changes to the housing allocation policy were announced in September 1984. These included the provision of public housing for single person and two-person households, inheritance of public housing by tenants" children, measures to promote the Home Ownership Scheme and long-term rehousing of squatters and Temporary Housing Area residents. Starting from January 1985, single person and two-person households have become eligible for the allocation of public rental flats. To encourage home ownership, priority to buy Home Ownership flats is given to additional categories of public housing tenants, including members of large families occupying more than one public rental flat, qualified applicants for public housing at the top of the waiting list and residents of temporary housing and cottage areas. In addition, a Home Purchase Loan Scheme was introduced in 1988. About 4 000 loans have been granted under the scheme to eligible households to assist them in purchasing flats in the private sector.

The Hong Kong Housing Society, a government-aided body, provided 30 030 rental flats to 118 619 people as at 30 June 1990. It has implemented an Urban Improvement Scheme which began in 1974 with a loan of HK$100 million from the government to improve the living environment in the urban area by clearing slum properties and installing proper management. Under the scheme, 22 projects have been completed while another 10 are due to be carried out in the next six years. Since 1987, it has also implemented a "Flat-for-Sale ́ Scheme to meet the changing housing needs of the people in Hong Kong. Under the scheme, the Society is given permission to sell flats in its estate development/redevelopment projects.