Younger people refuse to 'lie flat' on housing

Adelyn Lau

Nearly 60 percent of people aged 18 to 40 are unwilling to take a "lying flat" approach by applying for public rental housing, a latest survey has revealed.

Conducted last month by the Federation of Public Housing Estates, Hong Kong Youth Association, Kowloon Youths Joint Conference and Federation of New Territories Youth, the survey collected 367 online responses targeting this demographic to assess housing needs and expectations.

While 31 percent of respondents expressed a willingness to "lie flat" to secure rental housing, 67 percent preferred private residences.

Also, 64 percent showed interest in purchasing flats through the Home Ownership Scheme.

"Lying flat" refers to a mindset popularized in the mainland, where people choose to work minimally to maintain a basic lifestyle, resisting social pressures to overachieve.

Around 55 percent rated the importance of home ownership at eight or higher on a scale of one to 10.

More than 80 percent attributed their inclination to "lie flat" to private housing prices while 61 percent cited a lack of opportunities to buy subsidized flats, including Home Ownership Scheme units.

Also, 33 percent of young adults believed they could afford properties priced below HK$2 million while 20 percent felt they could handle units priced from HK$2 million to HK$2.99 million.

The prices for 7,132 flats in five HOS projects in Kwun Tong, Tung Chung, Kai Tak, Tuen Mun and Yau Tong this year ranged from HK$1.43 million to HK$4.67 million, a range the survey groups considered more in line with the financial capabilities of young buyers.

Wu Cheuk-him, an executive committee member of the Federation of Public Housing Estates, said: "As long as prices remain below HK$2 million, some among the 30 percent who are willing to 'lie flat' may still consider purchasing a home."

The groups involved proposed several recommendations, including the introduction of savings schemes and prioritizing youths in accessing subsidized and private housing, which nearly 60 percent found appealing.

Also, 74 percent of young adults want interest-free loans for first-time homebuyers, suggesting a pilot scheme with a reasonable quota to assist in purchasing private flats.

They also recommended increasing the supply of subsidized housing and the quota for single applicants, advocating for an increase in youth quotas for subsidized housing to at least 20 percent as well as tax incentives.

Anthony Chiu Kwok-wai, executive director of the Federation of Public Housing Estates, said once young adults secure housing, they might consider applying for or purchasing green form homes.