The Hong Kong Special Administrative Region (HKSAR) government announced plans to relax the existing mortgage ceiling to help first-time home buyers get into the market.

Under the new plan, first-time home buyers will be able to borrow up to 90 percent of a property's value to a maximum of eight million HK dollars (about one million U.S. dollars).

Chief Executive Carrie Lam said she hoped the plan can tackle the root of people's dissatisfaction during her annual policy address last week. 

"Housing is not simply a commodity and that our community has a rightful expectation of the government to provide adequate housing. This is also a fundamental issue to social harmony and stability," Lam said.

The current unrest in the HKSAR, though triggered by a now-withdrawn fugitive bill, has come into a new phase.

"The main reason of the protest comes from the dissatisfaction of the young people toward the government or the society at large," said Noel Shih, chairman of Young Democratic Alliance for the Betterment and Progress of Hong Kong.

"When they realize the housing prices are very expensive, and that they couldn't afford a house, or they realize they couldn't find a job they want, or the salary isn't what they expected, they turn it become a hate to the society and government," Shih said.

The scarcity of land lifted home prices in Hong Kong, about 1 million U.S. dollars on average. But the average salary is just 2,000 U.S. dollars per month.

CGTN asked people on the street for their opinions on the new policy.

"Take myself as an example; my elder son came back after studying in Canada. He is just fine. But my younger son just has an ordinary job; if I don't help him, he can't afford a house," one senior man said.

"It looks like the plan can help people buy an apartment, but it burdened our liabilities. It may benefit the middle class; not everyone can afford the initial down payment of 800,000 dollars for an 8-million-dollar house," another young man said.

Things could be more complicated for those who own lands. Tina Mak worked as a consultant with Hong Kong real estate investors for decades. She said the current situation can make investors quit the market.

"There's a little bit instability here, so investors will always look for other possibilities to protect their money. Because they are worried, so they will leave. And that might create some inventory they want to sell with discount," said Mak from the Canadian Real Estate Association. "In my opinion, this is the best time to buy in Hong Kong."

Chan Fan, Hong Kong SAR Government's Secretary for Transport, said the new plan will not be a major factor affecting home prices.

"The mortgage ceiling is just only one of the many factors that would affect the price of a piece of property. The global economy, local employment and supply and demand, all these would come into play," Chan said.

Chan said the move simply aims to give a chance to those who have saved for a new home.

(Chang Yuanyang also contributed to the story.)