Lin Zheng: Affording housing for the public to afford

The demand for public housing is strong. The Chief Executive, Mrs Carrie Lam, said that the Government has the responsibility to provide suitable housing for families with different incomes. The new land that the Government has developed in the future will be calculated by housing units. The proportion of public housing will account for 70%.

Update the long-term policy at the end of the year or change the “seven-three ratio"

Mrs Lam pointed out that the overall private residential price in August this year rose by 16% compared with the same period of last year. It is at a historically high level. The price of private buildings has risen sharply. It has surpassed the affordability of ordinary families. The government’s statistical mortgage contribution is relative to the median income of households. The ratio of the number (hereinafter referred to as the burden ratio) averaged about 67% last year, but it has risen to 74% in the second quarter of this year.

In contrast, Lin Zheng said that the government conducted a similar test on 7,426 subsidized homes for sale. The results showed that the burden ratio was less than 40%. “The unit is the target family and can afford to afford it." Among them, the Housing Authority of the 4431 (the Housing Authority) three home ownership estates are calculated at the latest pricing, with a burden ratio of about 22% to 32%. For the 450 units which are the first flats of the Hong Kong people in the Ma Tau Wai Road, To Kwa Wan, the burden ratio is about 34%. The Government has disclosed for the first time the median hypothetical selling price of the Cheung Sha Wan Tokyo Street Green Estate Project. The number is about 2.4 million yuan.

Mr Lam stressed that during her tenure, she will continue to develop land and allocate more land for public housing development. She promised that the new land developed by the Government will be calculated by housing units and 70% will be used for public housing.

The Transport and Housing Bureau announced the “Long Term Housing Strategy" (hereinafter referred to as “Long Strategy") in 2013. It proposes a 10-year housing development plan and publishes a progress report every year to update the supply target. The proportion of public and private housing has been maintained at a “four-fourth ratio". “Level. Mrs Lam said that since the “Long Strategy" involves complicated calculations, it should not be changed rashly. She will ask the Transport and Housing Bureau to reflect the factor of building the proportion of public housing when the next 10 years of housing construction is updated, and said: “Everyone can understand that the Government is willing to increase the proportion of public housing and the proportion of long-term (public housing) projects will only increase."

Frankly speaking, it is difficult to meet all requirements.

The supply of public housing has increased, and the proportion of private housing supply has been lowered accordingly. It is asked whether this will push up property prices. Lin Zhengyue said that under the circumstances of insufficient housing supply, “I am really a fairy god," he said frankly about housing problems. It’s hard to meet the many demands. I can only continue to increase the land and build houses. “When there is a shortage of supply, you can respond to a situation where everyone can live in peace."

However, she reminded that Hong Kong has entered the interest rate hike cycle. There are also some data showing that there is a slight drop in property prices. Members of the public are urged to do their best. “There should be a risk assessment."

Regarding the Government’s determination to increase the proportion of public housing supply, the Public Housing and Housing Association welcomes the proposal and requests the Government to clearly adjust the supply target of public and private flats to “seventy-three ratios" when the latest annual report of the “Long Strategy" is announced at the end of this year.