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News » International » Hong Kong moves to increase housing supply » published 22 Feb 2017

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.

 

 

MPU

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This article was published on 22 Feb 2017 (last updated on 22 Feb 2017).

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