Analysis of the impact of demographic, economic, and cultural changes on senior housing market in Hong Kong

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Analysis of the impact of demographic, economic, and cultural changes on senior housing market in Hong Kong

 

Author: Wong, Hon-cheung
Title: Analysis of the impact of demographic, economic, and cultural changes on senior housing market in Hong Kong
Degree: M.Sc.
Year: 2010
Subject: Hong Kong Polytechnic University -- Dissertations
Older people -- Housing -- China -- Hong Kong
Retirement communities -- China -- Hong Kong
Department: Dept. of Building and Real Estate
Pages: x, 121 leaves : ill. (some col.) ; 30 cm.
InnoPac Record: http://library.polyu.edu.hk/record=b2391115
URI: http://theses.lib.polyu.edu.hk/handle/200/5890
Abstract: Providing housings for the senior citizens have been a great challenge of the Hong Kong government. Yet, it is difficult to define the exact age range of a senior. According to the Hong Kong Census and Statistics Department, 65+ is statistically classified as senior. And due to the growing population of the aging group who are approaching their age of retirement, fulfilling the demand of housing and relative facilities for this demographical segment in our community will be a difficult task. For the aging population in our society, understanding their demand on housing in their retirement life is necessary for our government plan the future housing policy. Does the elderly prefer moving into a retirement community or aging in place? An accurate forecast of the senior housing market's demand will provide a better understanding on our market needs. Meanwhile, the Hong Kong government has provided some housing for the senior citizens, for example: 1) Public Rental House, 2) Subsidized Home (or the Subsidized Home Ownership Scheme). The Hong Kong Housing Society (HS) also developed a Senior Citizen Residences Scheme (SEN) for the elderly. For those who need extra cares and attention, the Hong Kong Social Welfare Department has also provided "Nursing Home" and "Home for the Aged" facilities. These residential schemes are mostly aiming towards the low income segment of our social structure, which provide subsidies for their living. This dissertation reviews the current situations of the senior housing market in Hong Kong in relation to the change of social and demographic structure. While the target age group has changed from low income/education level to high income/education level, how should housing change in response to this new market segment? Which housing typology is highly demanded by this segment? The idea of "living a good life after retirement" has changed to "active retirement" and "enjoy life". Therefore, a survey has been conducted to gather information about views towards the idea of "retirement" from the respondents, and how it relates to the demand of senior housing.

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