(Uncorrected OCR) ABSTRACT In Hong Kong, due to the government's strong intervention in the housing market, the housing subsidy system and rationing on owner-occupation and the public rental housing sector have significant impact on households' tenure decisions. As laid down in the first and second Long Term Housing Strategy respectively in 1987 and 1998. the government adopted an active policy of promoting home ownership towards privatization via various subsidies, like the Home Ownership Scheme (I IOS) and the I lome Purchase Loan Scheme (HPLS). During this period, property ownership was also regarded as an inflation-resistant investment and an effective wealth accumulation vehicle. Unfortunately, the property market slump following the 1997 Asian Financial Crisis has come to mean Ihe cessation of the "wealth escalator" function of property ownership. In view of lackluster property market and the political pressure, the government took the unprecedented decision on 13 November 2002 to extricate itself from the role as a direct provider of subsidized sale flats, allowing market forces to address the problem. A new Home Assistance Loan Scheme (HALS) was introduced on 2 January, 2003 as a phase process. On 14 July 2004. the Hong Kong Housing Authority (HA) also ceased the provision of 1IALS in order to be freed from the heavy financial burden. Currently, the subsidized home ownership of 1 long Kong is abolished. It is noted that structural changes that characterize the housing and labor markets in the new age of global economy are creating some impact on housing market behavior. As the risks arising from the higher incidence of unemployment, low wage work and volatile housing prices increase, homeowners now prudently, re-assess the terms and conditions before committing to mortgage arrangements. This research centers on investigating the determinants of tenure choice from the approved purchasers of HALS and their views over producer and customer subsidies to home ownership, i.e. HOS versus HALS. '1'hc findings in this paper reveal that factors like age, family structure and income of the household do carry weight in the decision-making process of property purchase. With diversifying social composition nowadays, singletons have become a growing source of homeowners in recent years. The research also indicates that despite certain reticence during the economic turmoil, home purchase instead of renting remains a fundamental priority, and stagnation in purchase is largely due to financial constraints. Moreover. homeowners are now more cautious in taking up loans and are generally more concerned about housing affordabilily and the early repayment of debt. Additionally, they are less inclined to attain higher social status through filtering up the housing ladder, and lend lo place more emphasis on use value, ontological security and / abstract / toc / Housing Management / Master / Master of Housing Management

published_or_final_version / Urban Planning / Master / Master of Science in Urban Planning

published_or_final_version / Housing Management / Master / Master of Housing Management

by Chan Siu-tack and Suen Wai-sang. / Bibliography: leaves 132-134 / Thesis (M.B.A.)--Chinese University of Hong Kong, 1986

by Leung Sui Wai, Tam Kai Yu Margaret. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1998. / Includes bibliographical references (leaf 73). / ABSTRACT --- p.II / TABLE OF CONTENTS --- p.IV / LIST OF ILLUSTRATIONS --- p.VII / LIST OF TABLES --- p.VIII / PREFACE --- p.XI / Chapter 1. --- INTRODUCTION --- p.1 / Chapter 1.1 --- Objectives --- p.2 / Chapter 2 --- HO USING SUPPLIES IN HONG KONG --- p.4 / Chapter 2.1 --- Public Housing --- p.5 / Chapter 2.1.1 --- Public rental flats --- p.5 / Chapter 2.1.2 --- Owning flats under public housing schemes --- p.8 / Chapter 2.1.3 --- Home Ownership Scheme --- p.9 / Chapter 2.1.4 --- Middle Income Housing --- p.11 / Chapter 2.1.5 --- New Home Starter Loan Scheme --- p.12 / Chapter 2.1.6 --- Sandwich Class Housing Scheme --- p.12 / Chapter 2. 2 --- Private property --- p.14 / Chapter 3. --- PROPERTY IN MAINLAND CHINA --- p.17 / Chapter 3.1 --- Pricing of property in Mainland China --- p.17 / Chapter 3.2 --- Buyers of properties in Mainland China --- p.18 / Chapter 3.3 --- Threat of incomplete commodity housing (lanmeilou) --- p.18 / Chapter 3.4 --- Hong Kong property agents --- p.19 / Chapter 4. --- ENVIRONMENTAL CHANGE WITHIN RESEARCH PERIOD --- p.20 / Chapter 4.1 --- Residential Property Market --- p.20 / Chapter 4.2 --- The Real Estate Chill --- p.20 / Chapter 4.3 --- The SAR Property Policy --- p.21 / Chapter 4.4 --- "Long-teRm Housing Strategy, 1997" --- p.22 / Chapter 4.5 --- Land release --- p.24 / Chapter 4.6 --- loan for First-time Home Buyers and Sandwich-Class Buyers --- p.25 / Chapter 4.7 --- Privatizing Public Housing --- p.26 / Chapter 5. --- METHODOLOGY --- p.29 / Chapter 5.1 --- Surveys --- p.29 / Chapter 5.2 --- Questionnaire Design --- p.29 / Chapter 5.3 --- Selection of Respondents --- p.33 / Chapter 5.4 --- Data Analysis --- p.33 / Chapter 6. --- SURVEY RESULTS AND ANALYSIS --- p.35 / Chapter 6.1 --- Results and Analysis - Section 1 --- p.35 / Chapter 6.2 --- Results and Analysis - Section 2 --- p.37 / Chapter 6.3 --- Results and Analysis - Potential Buyers --- p.42 / Chapter 6.3.1 --- Age --- p.42 / Chapter 6.3.2 --- Marital Status --- p.43 / Chapter 6.3.3 --- Relatives in China --- p.44 / Chapter 6.3.4 --- Currently Living With --- p.45 / Chapter 6.3.5 --- Currently Living In --- p.46 / Chapter 6.3.6 --- Education Level --- p.48 / Chapter 6.3.7 --- Number of Property Currently Owned --- p.50 / Chapter 6.3.8 --- Income --- p.51 / Chapter 6.3.9 --- Summary of Characteristics of Potential Buyers --- p.52 / Chapter 7. --- RECOMMENDATION --- p.54 / Chapter 7.1 --- Product --- p.54 / Chapter 7.2 --- Price --- p.56 / Chapter 7.3 --- Promotion --- p.57 / Chapter 7.3.1 --- Advertising --- p.57 / Chapter 7.3.2 --- Publicity --- p.58 / Chapter 7.3.3 --- Sales promotion --- p.58 / Chapter 7.3.4 --- Personal selling --- p.58 / Chapter 7.4 --- Distribution --- p.59 / Chapter 8. --- CONCLUSION --- p.60 / Chapter 8.1 --- Feasibility of residing in China but working in Hong Kong --- p.60 / Chapter 8.2 --- Demographic profiles of potential buyers --- p.62 / Chapter 8.3 --- Implications of the current situation --- p.62 / Chapter 9. --- LIMITATIONS --- p.64 / APPENDIX --- p.66 / Appendix A The Importance of Each Consideration when Buying Property in Mainland China --- p.66 / Appendix B Copy and results of the survey used in this project --- p.70 / BIBLIOGRAPHY --- p.73

Tsang Hoi Ting Florona. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2004. / Includes bibliographical references (leaves 101-104). / Abstracts in English and Chinese. / Abstracts --- p.i-ii / Acknowledgements --- p.iii-iv / Table of Contents --- p.v-vii / List of Tables --- p.viii-ix / List of Charts --- p.x-xi / List of Figures --- p.xii / Chapter Chapter 1 --- Introduction --- p.1 / Chapter 1.1 --- Background of Present Study --- p.1 / Chapter 1.2 --- Purpose of the Study --- p.3 / Chapter 1.3 --- Organization of the Thesis --- p.4 / Chapter Chapter 2 --- Literature Review --- p.5 / Chapter 2.1 --- Review of Literatures on Benefits of Homeownership --- p.5 / Chapter 2.2 --- Review of Literatures on Tenure Choice --- p.8 / Chapter Chapter 3 --- Hong Kong Housing Market --- p.12 / Chapter 3.1 --- Why Hong Kong? --- p.12 / Chapter 3.2 --- Characteristics of the Hong Kong Housing Market --- p.14 / Chapter 3.3 --- Review of the Hong Kong Public Housing Market --- p.19 / Chapter 3.3.1 --- Development of the Hong Kong Public Housing Market --- p.20 / Chapter i --- The Period 1954-64 --- p.20 / Chapter ii --- The Period 1965-73 --- p.22 / Chapter iii --- The Period 1973-83 --- p.24 / Chapter iv --- The Period 1984-2004 --- p.25 / Chapter 3.4 --- Review of the Hong Kong Private Housing Market --- p.29 / Chapter 3.5 --- Price and Rent of Private Domestic Units --- p.30 / Chapter 3.6 --- Renting versus Owning --- p.33 / Chapter 3.7 --- Improvement in the Living Conditions of the Population --- p.35 / Chapter Chapter 4 --- Data Description --- p.37 / Chapter 4.1 --- Population Census Data Sets --- p.37 / Chapter 4.2 --- Sample Selection --- p.39 / Chapter Chapter 5 --- Methodology ´ؤ the Tenure Choice Model --- p.41 / Chapter 5.1 --- Tenure Choice Function --- p.43 / Chapter 5.2 --- Multinomial Logit Model --- p.46 / Chapter 5.3 --- Explanatory Variables --- p.48 / Chapter 5.4 --- Summary of Descriptive Statistics --- p.58 / Chapter Chapter 6 --- Empirical Results --- p.65 / Chapter 6.1 --- People who Seek for Government Housing Assistance ´ؤ Subsidized Ownership and Subsidized Rental --- p.67 / Chapter 6.2 --- People who Favour the Private Housing Market --- p.72 / Chapter 6.3 --- Tenure Choice in Both Public and Private Housing Market --- p.76 / Chapter 6.3.1 --- Similarities of Tenure Choice of Both Housing Markets --- p.77 / Chapter i --- Who Favours Owning? --- p.77 / Chapter ii --- Who Favours Renting? --- p.80 / Chapter 6.3.2 --- Unique Features in Each Housing Market --- p.82 / Chapter i --- The Public Housing Market --- p.82 / Chapter ii --- The Public Housing Market --- p.83 / Chapter 6.4 --- Relationship of Residence and Work Place and Internal Migration --- p.88 / Chapter 6.5 --- Tenure Choices of Movers and Non-Movers --- p.95 / Chapter Chapter 7 --- Limitations of This Study --- p.97 / Chapter Chatper 8 --- Conclusion --- p.99 / References --- p.101 / Chapter Appendix 1 --- Comparison of Previous Literatures --- p.105 / Chapter Appendix 2 --- Abbreviations --- p.109 / Chapter Appendix 3 --- Description of Variables --- p.110 / Chapter i --- Explanatory Variables --- p.110 / Chapter ii --- Control Groups --- p.113 / Chapter iii --- Notes --- p.114 / Chapter Appendix 4 --- Additional Notes of Public Housings --- p.119 / Chapter Note 1 --- Eligibility Criteria Set by Hong Kong Housing Authority(HKHA) --- p.121 / Chapter Note 2 --- Eligibility Criteria Set by Hong Kong Housing Society (HKHS).… --- p.123 / Chapter Appendix 5 --- Tables --- p.125 / Chapter Appendix 6 --- Charts --- p.150 / Chapter Appendix 7 --- Figures --- p.165 / Chapter Appendix 8 --- Commands of Computer Programs (STATA) --- p.171

published_or_final_version / Housing Management / Master / Master of Housing Management

published_or_final_version / Housing Management / Master / Master of Housing Management

published_or_final_version / Public Administration / Master / Master of Public Administration

published_or_final_version / Housing Management / Master / Master of Housing Management