@inbook{82fa86a9e4e94c53b2e7bd0842dacac0,
title = "Housing Inequalities in an International Financial Center: The Case of Hong Kong",
abstract = "While Hong Kong is an urban international financial center with high GDP per capita, it has been criticized as a city with inequalities in many areas, especially economic and housing inequalities. In this chapter, based on an integration of concepts on social inequalities, we briefly review political, cultural, and opportunity inequalities. The review suggests that although inequalities in these areas are not very serious, there is room for improvement. We then conduct an in-depth examination of economic and housing inequalities in Hong Kong. We found that income inequality has been worsening since the 1980s, resulting in roughly one-fifth of the Hong Kong people living in poverty. In particular, it is progressively harder for young people to have an upward social mobility. Besides, wealth inequalities are serious in Hong Kong. Regarding housing inequality, there are disturbing phenomena, including small living spaces, such as sub-divided flats and “cage homes”. Low housing affordability and long waiting queue for public housing are also perpetual housing issues faced by the people of Hong Kong since 1997. The contributing factors and consequences of economic and housing inequalities on human development and the possible remedies are discussed.",
keywords = "Economic inequality, Hong Kong, Housing inequality, International financial center, Social inequality",
author = "Shek, {Daniel T.L.} and Lindan Tan",
note = "Publisher Copyright: {\textcopyright} The Author(s), under exclusive license to Springer Nature Switzerland AG 2024.",
year = "2024",
month = jul,
day = "21",
doi = "10.1007/978-3-031-59746-6_4",
language = "English",
isbn = "978-3-031-59745-9 ",
series = "The Urban Book Series",
publisher = "Springer Cham",
pages = "67--90",
editor = "Tonon, {Graciela H. }",
booktitle = "Urban Inequalities",
}