page_title: Home Ownership Scheme
hierarchical_section_title: Home Ownership Scheme
caption_attribution_description: 中文: 天富苑 English: Tin Fu Court
context_page_description: The Home Ownership Scheme is a subsidized-sale programme of public housing in Hong Kong managed by the Hong Kong Housing Authority. It was instituted in the late 1970s as part of the government policy for public housing with two aims - to encourage better-off tenants of rental flats to vacate those flats for re-allocation to families in greater housing need; and also to provide an opportunity for home ownership to families unable to afford to buy in the private sector.
  Under the scheme, the government sells apartment flats to eligible public housing tenants and to low-income residents at prices below the market level, with discounts usually between 30 and 40 percent. It restricts resale of the units in the second-hand market to other families who qualify or, on the open market, after payment of a premium equal to the updated value of the discount given on the original purchase. As an ancillary scheme, the Housing Authority also entered into arrangements with local private developers to provide property for sale under the Private Sector Participation Scheme.
context_section_description: The Home Ownership Scheme (HOS; Chinese: 居者有其屋計劃) is a subsidized-sale programme of public housing in Hong Kong managed by the Hong Kong Housing Authority. It was instituted in the late 1970s as part of the government policy for public housing with two aims - to encourage better-off tenants of rental flats to vacate those flats for re-allocation to families in greater housing need; and also to provide an opportunity for home ownership to families unable to afford to buy in the private sector.
  Under the scheme, the government sells apartment flats to eligible public housing tenants and to low-income residents at prices below the market level, with discounts usually between 30 and 40 percent,. It restricts resale of the units in the second-hand market to other families who qualify or, on the open market, after payment of a premium equal to the updated value of the discount given on the original purchase.  As an ancillary scheme, the Housing Authority also entered into arrangements with local private developers to provide property for sale under the Private Sector Participation Scheme (PSPS).
  Between 1995 and 2000, the Hong Kong Housing Society also offered the Sandwich Class Housing Scheme for lower middle class families whose incomes exceeded the Home Ownership Scheme requirements, but still had trouble affording private housing. In 2003, falling real estate values led the government to pause the construction of new Home Ownership Scheme estates indefinitely.
  The HKSAR government announced to resume HOS in October 2011 after more and more HK people were unhappy with the increasing difficulties of affording private flats, and Vice Premier Li Keqiang had showed his concern on the housing of Hong Kong during his visit to Hong Kong in August 2011. The first four courts have been inaugurated in 2017. Further courts are planned and under construction.
caption: Tin Fu Court, a public housing estate of the Home Ownership Scheme in Tin Shui Wai, Hong Kong
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