Policy Address

V. Land, Housing and Transport

Land Supply

118.         The housing shortage problem is serious.  Apart from soaring property and rental prices, cramped living conditions trouble many Hong Kong people.  More than half of private domestic units have a saleable area of less than 50 square metres.  Last month, I came across a family in Mong Kok.  The young couple took a picture of me with their only daughter, who was three years old.  I asked them, "Do you plan to have another baby?"  They replied, "Our flat is too small for two children." This answer is very typical.  I know some young people cannot afford a home of their own after getting married.  They go to work during the day, have dinner together in a restaurant, and then separately return to the homes of their respective parents.

119.         Besides meeting the housing needs of our young people today, we have to plan for our next generation.  I often think, if a kindergartener asks me, "Where will I live when I grow up?", what answer should I give?  "Nowhere" is definitely not an acceptable answer.  We must set targets, make plans and devise strategies to address the problem.  Our target is to ensure that Hong Kong people are adequately housed and will have better accommodation.  We must plan not only for the next few years but also for the next 30 years.  The strategy is to keep developing new land.

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