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Gov’t to keep up land sales

November 17, 2017

The Government will continue to put up sites for sale to ensure a steady land supply, even though it has met its latest private housing target.

 

Secretary for Development Michael Wong made the statement to the media today.

 

“Although we have already reached the target of providing enough land for 18,000 private housing units, we have achieved that already, in the fourth quarter of this financial year, which is from January to March 2018, we will continue to make available sites for tender.”

 

However, he called on prospective homebuyers to be prudent in assessing their ability to repay mortgage loans amid a potential US interest rate rise and high property prices.

 

In response to media enquiries about a site sold recently at a high price, Mr Wong said the Government would not comment on the tender results or the price setting of an individual property developer. 

 

On the proposal to relocate the Kwai Tsing Container Terminals to free up more land, he said the Task Force on Land Supply had discussed the issue yesterday and agreed it requires further study.

 

The task force will engage the public in the second quarter of next year about the site, he said, adding the Government will listen to all views carefully.



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