Speech by the Chief Executive in delivering “The Chief Executive’s 2018 Policy Address” to the Legislative Council
18. We have conducted tests on these three batches of SSFs. With prices adjusted and a loan-to-value (LTV) ratio as high as 90% or above, the SSF units are affordable to the target households. The monthly payment will generally not exceed 40% of the total household income. Now that the Government has rebuilt the housing ladder and adjusted the pricing mechanism of SSFs, the issue we now need to urgently deal with is where to get land.
19. The Task Force on Land Supply (Task Force) set up in September last year has shouldered the task of forging collaborative deliberation with the public, in an attempt to build the greatest consensus in society. The full commitment and hard work of all members are highly respectable. Half a month ago, upon my request, the Task Force shared with me its preliminary key observations. While public attention has centred on observations in respect of individual land supply options, I am attracted to the Task Force’s three general observations that the community broadly agrees that land supply is pressing; that we should be prepared for the rainy days; and that a multi-pronged approach should be adopted.
20. In the Policy Address, I present some plans on land supply in line with such policy objectives. They include Lantau Tomorrow Vision, development of brownfield sites, land sharing and revitalisation of industrial buildings. As regards the further analysis of individual options, I will give detailed consideration to the Task Force’s recommendations in its full report to be submitted by the end of this year.
