Speech by the Chief Executive in delivering “The Chief Executive’s 2018 Policy Address” to the Legislative Council
16. To further demonstrate the Government’s determination to solve the housing problem faced by our people, I stated in my Policy Address today that:
- we will develop land resources in a resolute and persistent manner – the Government’s determination to identify and produce land and build a land reserve will never waver in face of short-term changes in economic environment or fluctuations in property prices;
- it is the Government’s responsibility to provide decent housing for families in different income brackets. During my term of office, I will increase the ratio of public housing and allocate more land for public housing development. The Transport and Housing Bureau will reflect this policy consideration in updating the next ten-year housing target under the Long Term Housing Strategy; and
- we undertake that 70% of housing units on Government’s newly developed land will be for public housing.
17. We expect that the revision of the pricing of SSFs will attract a large number of applications. Following the new pricing policy, the Hong Kong Housing Authority (HKHA) has re-opened application for Home Ownership Scheme (HOS) 2018 and the sale of the first project under the regularised Green Form Subsidised Home Ownership Scheme (GSH) and the “Starter Homes” (SH) pilot project of the Urban Renewal Authority (URA) will also be launched subsequently. These three projects will provide a total of 7 426 housing units.
