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September 4, 2013

10-year housing goals proposed

The Long Term Housing Strategy Steering Committee launched a consultation document on September 3 to collect public views on housing strategy for the next 10 years.
     Secretary for Transport & Housing and committee chairman Prof Anthony Cheung said Hong Kong faces an acute housing problem, with housing conditions that do not match Hong Kong's economic affluence.
     The document proposes helping the grassroots through public rental housing, helping younger and lower-middle income groups purchase homes by providing Home Ownership Scheme (HOS) and other subsidised flats, and stabilising the private housing market with priority given to meeting Hong Kong residents' needs.
     It suggests the government adopt a more proactive role and a "supply-led" strategy, with a total housing supply target of 470,000 units for the next 10 years. It also says the new housing ratio should be 60% public and 40% private, with sufficient flexibility for subsidised sale flats, including Home Ownership Scheme (HOS). The supply of HOS flats should be raised above the number the government has already pledged.
     For subdivided units, the committee urges the government to intensify inspection, to step up enforcement action to eradicate units in industrial buildings, and suggests a licensing or landlord registration system to regulate safety and hygiene.
    
The consultation period will last for three months, until December 2.