The Government will release land in the next year to provide 19,000 flats.
Delivering his 2015-16 Budget today, Financial Secretary John Tsang said the 2015-16 Land Sale Programme will cover 29 residential sites, including 16 new ones, capable of providing 16,000 units.
Taking into account the housing land supply from different sources, he said about 19,000 units can be provided.
To promote market circulation of subsidised housing, he said the Mortgage Corporation will consider launching a new Premium Loan Guarantee Scheme to help the owners of those flats pay the premium and enjoy greater flexibility in letting out or selling their flats on the open market.
The Land Sale Programme will also include four sites for commercial and business use and one for hotel development, providing 180,000 square metres of floor area and 500 rooms.
He said the Government will increase the supply of commercial floor area through other channels, including relocating government offices away from core business districts.
The plan will release valuable sites for commercial use, and generate more economic activity and employment opportunities in various districts.
