Measures to optimise housing supply

October 12, 2018

The Policy Address introduces measures to optimise the use of public housing resources, Secretary for Transport & Housing Frank Chan said.


Mr Chan made the statement when briefing the media today on the housing measures in the Policy Address.


In one of the initiatives, the Housing Authority is suggested to join the Housing Society’s pilot scheme that allows owners of subsidised sale flats (SSF) with premium unpaid to sublet their flats to families in need. 


Under the scheme launched in September, such flats will need to have two or more bedrooms and owners must retain at least one bedroom for self-occupation.


The owner must have owned the flat for 10 years or more.


The Policy Address also accepts the Housing Society’s recommendation of launching the “Flat for Flat Pilot Scheme for Elderly Owners” for its SSFs with premium not yet paid.


Owners aged 60 or above who have owned their flats for at least 10 years can sell the flats and buy smaller SSFs in the secondary market without paying premium.


Mr Chan said the recommendation, if implemented, could expedite the circulation of subsidised flats for sale. By selling their original flats, owners can buy suitable smaller ones and keep the price difference from the flat exchange.


A third initiative proposes to allow family members aged 70 or more residing in under-occupied SSFs to enjoy lifetime full rent exemption upon transfer to smaller, new or refurbished units.


This helps participants save on living costs, while the flats released could be allocated to households with more family members that are waiting for public rental housing, he added.

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