Policy Address

I will invite the Hong Kong Housing Authority (HKHA) to explore the feasibility of redeveloping its factory estates for public housing use, particularly to increase the supply of PRH units;
currently, about 42 000 flats in the 39 estates under the Tenants Purchase Scheme (TPS), which are on average priced at about 20% of their assessed market values, remain unsold. To further meet the home ownership aspirations of PRH tenants, I propose that HKHA make active preparations with a view to accelerating the sale of these flats;
following the sale of about 8 600 HOS and GSH flats in 2019, we will put up more such flats under construction for pre-sale. It is expected that as many as 12 000 HOS and GSH flats will be put up for sale in 2020 to meet the home ownership aspirations of the public as soon as possible;
with the provision of 3 000 WSM quotas this year, I suggest HKHA further raise the quota concerned in 2020 with a view to meeting the home ownership needs of more White Formers;
we will put up a private residential site on Anderson Road for sale in the first quarter of 2020 for the second SH pilot project. In addition to building private housing units, the developer will be required under land sale conditions to offer approximately 1 000 SH units for sale at below-market prices to eligible applicants;