to ensure that adequate housing at an affordable price or rent is available to all households with minimum delay and in accordance with agreed priorities;
to use the territory's resources efficiently and equitably by relating household income to the level of housing subsidy enjoyed and by reinforcing the principle of providing public housing selectively on a need basis;
to maximise the contribution of the private sector, therefore releasing public resources for other purposes;
to promote the mobility of sitting tenants;
to
promote and satisfy the growing demand for home purchase; and
to improve residential living conditions by redeveloping sub-standard older public housing
encouraging
estates
and
redevelopment of slum areas.
The Review
8
The strategy review is a theoretical exercise which is based on a number of assumptions about the future socio-economic situation. In particular, it has been assumed that the present outcome of the interaction between all demand and supply variables, including flat prices, will prevail over the next 15 years. Inevitably, variations from the assumptions will occur and close monitoring and flexibility in implementation are therefore necessary to ensure that the desired objectives are achieved.
9
In the review,
review, three alternative housing strategies have been identified. They are:
(a)
Rental Led Strategy: This modifies the existing strategy by extending redevelopment to all Mark IV VI and FGLCH estates. In other words, it replaces old rental estates with new ones. However, this strategy does not utilise anticipated surplus private sector capacity, increase sitting tenant mobility nor satisfy demand for assisted home purchase.
(b) HOS/PSPS Led
modifies the promoting
and
assisted home
Strategy: This strategy Rental Led Strategy by satisfying the demand for purchase. This is done in
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