The Government’s 10-year housing supply target will remain unchanged at 430,000 units, while the public to private flat ratio of 70:30 will also stay the same.

The Government released the Long Term Housing Strategy Annual Progress Report 2022 today, noting that the public to private split of 70:30 for the next 10-year period 2023-24 to 2032-33 will be maintained.

According to this ratio, the public housing supply target will be 301,000 units, comprising 210,000 units for public rental housing unitsGreen Form Subsidised Home Ownership Scheme flats, and 91,000 units for other subsidised sale flats.

As announced in the 2022 Policy Address, the Government has identified sufficient land for providing about 360,000 public housing units in the coming 10-year period, an increase of about 30,000 units over the previous 10-year period, which can meet the estimated public housing demand of 301,000 units.

Such supply mainly comes New Development Areas and major development projects, site rezoning, and other projects including development of brownfield clusters, redevelopment of the Housing Authority's factory estates and part of the Siu Ho Wan Depot site topside development.

As for private housing, the Government will continue to spare no efforts in creating sufficient land to meet the private housing supply target of 129,000 units for the next 10-year period.

In particular, the Government will get sufficient land ready for providing no less than 72,000 units in the coming five years through land sales and railway property developments.

Together with development projects undertaken by the Urban Renewal Authority and other private land development projects, the private housing supply target should be able to be met under the Long Term Housing Strategy.

(The source: news.gov.hk)