Policy Address

143.         Our long-term housing strategy is to: (i) gradually resolve the shortage problem by increasing overall housing supply; (ii) increase PRH production to meet the needs of the grassroots; (iii) increase the supply of HOS and other subsidised sale flats to provide more home ownership opportunities to the low and middle-income groups and young people; and, (iv) rebuild the housing ladder by enabling PRH tenants who can afford it to buy HOS flats, thus freeing up units for reallocation to grassroots in need.

144.         The Government has identified sufficient land for 179 000 PRH units and 17 000 HOS units as pledged.  With the unreserved efforts of the government departments concerned, we are making good progress in this respect.  To meet the new housing supply target, the Government aims to provide an average of about 20 000 PRH units and about 8 000 HOS units per year.  This would mean that the supply of public housing in the coming ten years will increase by 36% compared to what was pledged by the Government last year.  The Government will also provide land for private housing according to the new target.

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