Housing supply to grow

July 11, 2012

The Government will strive to increase the overall supply of housing and facilitate the stable and healthy development of the property market by increasing land supply.
 
Secretary for Transport & Housing Prof Anthony Cheung told legislators today the Government will reactivate the long-term study on housing, as it feels the provision of public and private residential flats should meet housing demand.
 
On public rental housing, he said the Government will improve the land planning process and increase public housing supply to meet growing demand.
 
"The current annual average public rental housing production of 15,000 units is not a fixed target, and we will increase the supply having regard to the circumstances and subject to the land situation."
 
On the New Home Ownership Scheme, he said the plan is to provide 17,000 flats until 2017. The target is to provide 5,000 flats on average per year when more sites are identified in future.
 
On the private housing side, making land available for an annual production of 20,000 flats on average over the next few years is not a fixed target. In the long term, he said the Government aims to build up a land reserve to ensure steady supply for the property market.