Picture used for illustrative purpose only.

Hong Kongers reluctant to get the coronavirus jab have been given a million-dollar reason to roll up their sleeves after property tycoons donated a brand new flat to a vaccine lottery.

Worth HK$10.8 million (US$1.4 million), the one-bedroom apartment will be the lucky draw's grand prize, the property developers announced on Friday.

They will also offer 20 other prizes worth HK$100,000 each.

Hong Kong is one of the few places in the world to have secured more than enough doses to inoculate all 7.5 million people.

But rampant distrust of the government combined with a lack of urgency in a comparatively virus-free city - has led to hesitancy and a dismally lagging inoculation drive.

Seeking to boost uptake, Sino Group, Ng Teng Fong Charitable Foundation and Chinese Estates Holdings said all Hong Kong residents aged 18 and above who have received both doses of the

COVID-19 vaccines will be eligible to register for the lucky draw until Sept.1.

Only permanent residents are eligible for the top prize of an apartment in the world's most unaffordable housing market.

"We hope to increase Hong Kong's vaccination rate through the lucky draw," Daryl Ng, the director of the foundation said in a statement.

The groups said further details would released at a later date.

The announcement came three days after the city's Chief Executive Carrie Lam rejected calls for the government to offer cash handouts to encourage inoculations.

She suggested local businesses provide the incentives.

"To offer cash or something physical to encourage vaccination shouldn't be done by the government," she said.

Vaccine lotteries have started catching on in the United States, with California, Colorado, Ohio, New York and Oregon offering a chance to win costly prizes.

A rural town in the Philippines announced it will raffle off a cow to motivate people to get the jab.

In Hong Kong, less than 20 per cent of the population has received the first vaccine dose, while just over 14 percent has received two doses.