Aug 09, 2012
New Home Ownership Scheme flats will be available in 2016-17 at the earliest, and there will be land to provide 17,000 units in the first three to four years according to current planning. Secretary for Transport & Housing Anthony Cheung said the Government set the annual target supply at 5,000 units, but it will be adjusted according to long-term Home Ownership Scheme demand and land supply.
He said the Government will launch a long-term housing strategy review, study the demand from people at various income levels, and decide the supply in a relatively long term, like 10 years. He added it is the new administration's policy direction to bring Home Ownership Scheme units into the public housing strategy.
The long term housing strategy will look at both public housing and the private market, to ensure the overall housing market will develop in a smooth and stable manner.
Mr Cheung said 'Hong Kong property for Hong Kong residents' is the Government's policy direction, meaning the housing needs of Hong Kong people will be put first. But as Hong Kong is a free market, the Government will not discriminate against outsiders investing in, or purchasing property, in Hong Kong.
