The Government today released the Long Term Housing Strategy Annual Progress Report 2026, setting the housing supply target at 420,000 units for the 10-year period from 2027-28 to 2036-37.

Maintaining a public-to-private housing split of 70:30, the new target allocates 294,000 units for public housing and 126,000 units for private housing.

Within the public housing segment, the Government aims to adjust the planning ratio towards 60:40 between public rental housing (PRH)/Green Form Subsidised Home Ownership Scheme (GSH) units and other subsidised sale flats (SSF). Under this arrangement, the public housing allocation will comprise 176,000 PRH/GSH units and 118,000 other SSF units.

The Government noted that the Composite Waiting Time for Subsidised Rental Housing has fallen to 4.8 years, down from a peak of 6.1 years before the current-term Government took office. This represents the lowest waiting time in over eight years for two consecutive quarters, bringing the Government closer to its target of reducing it to 4.5 years for 2026-27.

Since the current-term Government took office, more than 133,000 families have been housed in PRH or have purchased a SSF through the Hong Kong Housing Authority and the Hong Kong Housing Society, marking an increase of over 35% compared to 97,000 families supported between July 2018 and June 2022.

The Government has identified sufficient land to meet the public housing supply target over the next decade. Plans are underway to deliver an average of more than 35,000 public housing units annually during the five-year period from 2027-28 to 2031-32, representing an increase of about 73% compared with the five-year production since the current-term Government took office, a 25-year high.

Additionally, the projected supply of Home Ownership Scheme flats has increased by approximately 100% over the original projections.