CONFIDENTIAL
Housing and New Towns
機密
Public housing is a priority commitment which
accounts for about one-third of Government's total annual capital expenditure. At present 2.6 million people or about 47% of the population live in rented or self-owned
public housing.
2.
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Since its establishment in 1973, the Hong Kong Housing Authority has been tasked with providing flats for needy families at a rent or price they can afford. It now provides flats up to 54m2 in size at rents set so as not to exceed 15% of the incoming tenants' median income. These rents are about 1/4 to 1/3 of those for comparable private sector accommodation. With the introduction of the Home Ownership Scheme in 1978 and the Private Sector Participation Scheme in 1979, a range of flats between 37m2 and 60m2 in area have been offered for sale to eligible families at about 25% below full market value.
3.
In 1986, the Authority completed 37,100 new rental flats and 9,600 flats for sale, thereby exceeding its annual target of 40,000 flats for the seventh successive year. During the same period, the private sector completed 37,140 flats.
4.
In April 1987, Government announced a $20,000 million Long Term Housing Strategy, under which the public and private sectors are jointly expected to build 1,085,000 new homes so as to satisfy all outstanding housing demand
by the year 2001.
5.
Under this Housing Strategy, the Authority aims to have met substantially, by 1996/97, the demand for rental accommodation arising from the clearance of squatters and from families on the public housing waiting list. will also encourage and facilitate home purchase by offering more flats for sale and by giving interest-free loans to
It
/cont'd.
CONFIDENTIAL
機密