Policy Address

Housing

139.         Over the past year, the community has come to realise that a housing supply shortage is the major cause of the upsurge in property and rental prices.  The public has also reached a consensus gradually on the measures proposed by the Government to increase land supply.  The Government has adopted a two-pronged approach to increasing the supply, while at the same time curbing external, investment and speculative demands.  These measures have started to deliver results.

140.         The private sector has only produced an average of about 9 680 flats each year over the past five years.  Based on the preliminary assessment of private residential developments known to have or to be started on disposed sites, it is projected that the private sector will, on average, produce about 13 600 flats each year in the next five years, an increase of about 40%.

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