Published: 2:45pm, 15 Oct, 2017 Updated: 2:55pm, 20 Jul, 2018
Hong Kong's starter home scheme aims to help young families get on the housing ladder but concerns have been raised about its affordability. The government has said it will provide a subsidy of HK$8,000 ($1,500) per month for first-time buyers who are aged between 18 and 35. By comparison, couples in Singapore can withdraw money from their mandatory Central Provident Fund to fund a house purchase, while first-time buyers of public-sector flats can also receive government subsidies. Families in Shanghai can also draw from a compulsory saving scheme. In the UK, the Help to Buy scheme offers state loans to first-time buyers who need pay only a 5% deposit.