The total housing supply target is lowered to 430,000 units
The government announced the long-term housing strategy yesterday. The Transport and Housing Bureau recently estimated that the total housing supply target for the next 10 years will be 430,000 units, which is 20,000 units lower than last year’s supply target. The Minister of Transport and Housing Chen Fan pointed out that the new supply ratio of public and private housing remained at seven to three, and it is expected that 272,000 public housing will be added in the next 10 years, and the gap between supply and demand will narrow to 29,000 units. Hong Kong News Department reported
The government announced the “Annual Progress Report on Long-term Housing Strategy” yesterday. According to the latest projection, the total housing supply target for the next 10 years (2020/21 to 2029/30) is 430,000 units, which is 20,000 less than the 450,000 units last year. Each. According to Chen Fan, 91,000 units are for other subsidized sale units, and the new supply ratio of public and private housing continues to maintain a ratio of 7 to 3. Public housing accounts for 301,000 units, of which 210,000 are public housing or green housing units; private housing accounts for 129,000 units.
The Transport Bureau predicts that 272,000 public housing will be added in the 10-year period starting from 2020/21, and the gap between supply and demand will narrow from 67,000 units to 29,000.
Public-private housing remains at seven to three
Regarding the reduction of the total housing supply target, Chen Fan denied that it was a “fabrication”, explaining that the Census and Statistics Department had estimated that the net growth in the number of households would decline in the future, and that the Rating and Valuation Department had estimated that the number of vacant private houses would be reduced. Will calculate again and change according to market conditions, adjust supply targets as needed. He said that in the first quarter of next year, developers will build and provide 1,000 first home units through a land sale plan. The authorities will clearly set out the development timetable and stipulate the specifications of the first home units in the land sale terms. The relevant work is still ongoing. in.
With regard to the vacancy tax, he pointed out that the government had submitted a proposal to the Legislative Council in October, but the House Committee of the Legislative Council has not yet elected its chairmen and vice-chairmen, which has delayed the progress of the vacancy tax legislation and risked that it could not be considered in this legislative year. If this legislative year cannot be scrutinized, the relevant legislative work must be resumed after the next Legislative Council is elected.
Lujiazui closes applications early next year
The report also mentioned that the government is in the process of reclaiming land and providing infrastructure to promote the expansion of Tung Chung New Town, Kwu Tung North / Fanling North New Development Area, Hung Shui Kiu \ Xia Cun New Development Area and Yuen Long South Development. About 700 hectares of private land, of which more than 400 hectares are expected to be recovered in the next 5 years.
In addition, a new batch of green home projects for sale at a discount of 49% of the market price will be distributed this Friday (20th), and applications will be accepted next Friday (27th), and will close on January 9 next year. The Housing Authority will distribute application forms and real-estate information to the Green Home Sales Team in Kwun Tong starting Friday, and will show the interior space models and building models of the two standard units. The new phase of the green home development project is Cui Wan Road, Chai Wan Road and Tsing Yi Road, Tsing Hong Road, Tsing Yi.
The two projects provide a total of 3,996 units with a saleable area ranging from 187 to 471 square feet. The Housing Authority sells them at 49% off the market price. The unit sales price ranges from 820,000 to 2.73 million. It is expected to stir in March next year and pick in May floor.
The Housing Authority will distribute application forms and real estate information at the “Green Home Sales Group” at Kin Sang Plaza, Hoi Yuen Road, Kwun Tong, and will show the interior space models and building models of the two standard units for applicants’ reference.