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Incomplete privatization of public rental housing in Hong Kong |
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| Affiliation: | 1. Dept. of Economics, Jinan University, Guangzhou, China;2. Dept. of Real Estate and Construction, The University of Hong Kong, Hong Kong;1. Department of Social Sciences, Education University of Hong Kong, Lo Ping Road, Tai Po, Hong Kong, China;2. Faculty of Design and Environment, Technological and Higher Education Institute of Hong Kong, Shing Tai Road, Chai Wan, Hong Kong, China;1. Department of Geography and Regional Studies, University of Miami, Coral Gables, FL, 33124, USA;2. Department of Geography, University of Utah, Salt, Lake City, UT, 84112-9155, USA;3. Department of Land Management, Zhejiang University, Hangzhou, 310029, China;1. College of Public Administration, Huazhong University of Science and Technology, Wuhan, 430074, China;2. School of Civil and Hydraulic Engineering, Huazhong University of Science and Technology, Wuhan, 430074, China;3. College of Public Administration, Central China Normal University, Wuhan, 430079, China;4. College of Agriculture and Biotechnology, Zhejiang University, Hangzhou, 310058, Zhejiang Province, China |
| Abstract: | The delineation of the land occupied by Public Rental Housing (PRH) is a contentious issue in worldwide debates over PRH privatization. Heated arguments hold that governments should retain the occupied land for mitigating inequalities that privatization might provoke. Dual-role policies arise concerning both efficiency and equality. This research seeks to decode actual consequences of such policies based on their implementation in Hong Kong, with a specific focus on the Tenants Purchase Scheme (TPS). Intended to enliven PRH within needy families, the TPS policy instead resulted in dormant resale of privatized PRH with adverse effects on target groups. Hypotheses on how the TPS policy has affected housing resale are developed based on property rights and searching theories and tested against empirical data. This research offers a theoretical basis for exploring solutions to the unanticipated aftermath of Hong Kong’s PRH privatization and provides information for other governments on implications of privatization strategies. |
| Keywords: | Land delineation Public rental housing privatization Transaction cost Searching theory |
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