CHAPTER 12
Housing
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IN February 1998, the Government promulgated a White Paper on Long Term Housing Strategy, which provided a blueprint for future housing policy in Hong Kong. By the end of 1999, all the specific initiatives set out in the White Paper were implemented. The targets set out in the White Paper were updated regularly to take account of new developments. A Long Term Housing Strategy Advisory Committee was established to advise the Secretary for Housing on future policy issues.
The approved estimate of public expenditure on housing in 2001-02 was $38 billion, or 13 per cent of total public expenditure.
Total housing stock in 2001 amounted to 2 140 029 flats, comprising 684 709 public rental housing flats, 403 320 subsidised home ownership flats and 1 052 000 flats in the private sector.
Housing Policy
The Government's housing policy objectives are to reduce the number of inadequately housed people in Hong Kong, to help all households gain access to adequate and affordable housing, and to encourage home ownership in the community.
To ensure that its policy objectives can be achieved, the Government:
• assesses housing demand regularly;
• monitors the supply of land and supporting infrastructure for housing, and maintains a long-term flat production programme;
• creates the conditions to enable the private sector to make the fullest possible contribution towards meeting the demand for housing;
• implements subsidised home ownership schemes and loan schemes to enable those in the relevant income groups to buy their own homes;
provides public housing at reasonable rents to those who cannot afford any other type of housing; and
implements initiatives to address the housing requirements of groups in special need.