Financial Secretary: 18,000 people have confidence to supply the standard
The Financial Secretary, Chen Mao-bo, said that although the potential supply of private residential units in the coming year, with only 25,000 units, is lower than the 32,000 units this year, he is confident that the target of providing 18,000 private-owned flats will be achieved.
Refers to the reorganization of land is not easy to social support
Chen Maobo announced the first government budget for the current government on the day before yesterday. He attended radio broadcast programs yesterday morning and responded to public queries. He said that it is not easy to increase the supply of land. However, the government will not be soft on land and officials are not afraid of difficulties. Even though some difficulties were encountered in rezoning some of the short and medium-term land in the past, they believed that as long as they received social support, Can reach 18,000 target this year supply target.
Mr Chan also pointed out that last year’s supply of more than 24,000 flats was in private quarters. From 2018 to 2022, the average completion volume of private flats will reach 20,800 annually. He promised that the government will work hard for a 10-year goal of building a home. .
As property prices continue to rise in recent years, Chen Mauboo explained that it was due to the time lag between the completion of the introduction of the land and the completion of flats and the short supply to the market and the low interest rate environment. Chen Maobo responded that the property market is heating up if it will push back first-home loans or reduce mortgage yields. If the young people have limited financial strength, the government will at the moment assist them to join the market and find it inappropriate to do so.
Mr Chan also mentioned that the Land Supply Task Force will conduct public consultation in April this year and submit a report to the government by the end of the year in the hope of adding different land options.