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. Households must have a 20 Jul, 2018 income of between HKD52,000 ($6,700) and HKD68,000 to qualify. 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.