Speech by the Chief Executive in delivering “The Chief Executive’s 2018 Policy Address” to the Legislative Council
25. Furthermore, we will support the Hong Kong Housing Society (HKHS) to redevelop its aged rental estates, invite the URA to launch the redevelopment of buildings under the Civil Servants’ Co-operative Building Society Scheme, and support the Settlers Housing Corporation Limited in taking forward the redevelopment project of Tai Hang Sai Estate. By so doing, we will meet the long aspirations of the owners and residents concerned and also increase housing supply.
26. To make efficient use of public housing resources, the HKHA will, in light of the operational experience of the HKHS’s pilot scheme, join the scheme and allow owners of HKHA’s SSFs with premium unpaid to sublet their flats to needy families. The HKHA will also introduce a new initiative whereby under-occupation households whose family members are all aged 70 or above are allowed to enjoy lifetime full rent exemption upon their transfer to small, new or refurbished units. Furthermore, the Government will accept the HKHS’s recommendation to introduce a “Flat for Flat Pilot Scheme for Elderly Owners” for its SSFs with premium not yet paid. Under this scheme, owners aged 60 or above who have owned their flats for at least ten years can sell their original flats and then buy a smaller SSF flat in the secondary market without payment of premium.
