Property

HK chief executive’s policy address 2017 – land and housing


Carrie Lam

Photo Source:Carrie Lam's Office Facebook

Hong Kong SAR chief executive, Carrie Lam Cheng Yuet-ngor, announced her first policy address yesterday. With the newly established Task Force on Land Supply, Lam’s government will examine the different land supply options to draw up a comprehensive package of proposals and a visionary land supply strategy. Moreover, building a housing ladder on home ownership is another focus of the address. The key points of Lam’s address are below:

· Substantially increase the supply of units under the Green Form Subsidised Home Ownership Scheme (GSH) in order to provide more public rental housing (PRH) units for those in need

· Request the Hong Kong Housing Authority (HKHA) to regularise GSH with 4,000 new PRH units in Fo Tan, Sha Tin expected to be converted into GSH units for sale in late 2018

· Suggest HKHA to regularise the Interim Scheme of Extending the Home Ownership Scheme (HOS) Secondary Market to allow eligible White Form applicants to purchase HOS flats with an unpaid premium

· Introduce and establish a “Starter Homes” scheme, with details to be announced in mid-2018, for middle-class families who are not eligible for HOS. Launch a pilot scheme at a residential site at Anderson Road, Kwun Tong to provide approximately 1,000 residential units

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· Facilitate the implementation of short-term community initiatives to increase the supply of transitional housing, including:

  i. optimising the use of idle government premises to provide rental housing units like those under the “Light Housing” project;
 ii. supporting the Community Housing Movement initiated by the Hong Kong Council of Social Service on a pilot basis and encourage other bodies to participate;
iii. facilitating the Hong Kong Housing Society to allow owners of its subsidised housing to rent out their flats with an unpaid premium to families in need at below market rental rates on a pilot basis;
iv. exploring the wholesale conversion of industrial buildings into transitional housing with the land premium waived; and
 v. supporting non-profit organisations to explore the feasibility of constructing pre-fabricated modular housing on idle sites.

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Details of Policy Address
>> The Chief Executive's 2017 Policy Address