Hong Kong must fix Tenants Purchase Scheme’s flaws before any relaunch

When Hong Kong’s Housing Authority launched the Tenants Purchase Scheme (TPS) in 1998, it embodied the city’s aspiration of home ownership for all. Then the chief executive, Tung Chee-hwa, envisioned public housing tenants buying their flats at a discount, transforming renters into homeowners. That year, the first batch of 25,000 flats was rolled out. In total, 39 estates were included, offering 184,036 flats. The latest Housing Authority data shows that 154,743 of these were sold to tenants. On...