Hong Kong moves to increase housing supply
The Hong Kong government is taking action to increase housing supply, financial secretary Paul Chan announced in his 2017-18 Budget.
He said that the government will supply 94,500 public housing units between now and the 2020-21 financial year. There will be 71,800 public rental housing units and 22,600 subsidised flats for sale.
In terms of private housing, the 2017-18 Land Sale Programme comprises 28 residential sites capable of providing 19,000 units. Together with railway property and redevelopment projects, potential private housing land supply in 2017-18 will be about 32,000 units.
The government will also put three commercial/business sites and one hotel site up for sale, providing 172,000m2 of floor area and 550 hotel rooms.
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This article was published on 22 Feb 2017 (last updated on 22 Feb 2017).