XN000022-1982-10-06 — Page 15

WEDNESDAY, OCTOBER 6, 1982

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2.2 MILLION LIVE IN PUBLIC HOUSING

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MORE THAN 2.2 MILLION PEOPLE, OR 42 PER CENT OF THE POPULATION, NOW LIVE IN PUBLIC HOUSING, THE LEGISLATIVE COUNCIL WAS TOLD THIS (WEDNESDAY) AFTERNOON.

SPEAKING AT THE OPENING OF THE NEW SESSION, THE GOVERNOR, SIR EDWARD YOUDE, SAID THIS PERCENTAGE WILL GROW AS THE PUBLIC SECTOR BUILDING PROGRAMMES PROCEED.

+ IN 1981-82 PUBLIC HOUSING PRODUCTION, INCLUDING THE HOUSING SOCIETY'S CONTRIBUTION, WAS NEARLY 40 000 FLATS, ALL IN MODERN ESTATES WITH GOOD AMENITIES,+ HE SAID.

THE REDEVELOPMENT OF OLD ESTATES, HE CONTINUED, WOULD ENSURE IMPROVED STANDARDS FOR EARLIER PUBLIC HOUSING TENANTS.

+THE INDICATIONS ARE THAT THIS HIGH LEVEL OF PRODUCTION CAN BE SUSTAINED, AND EVERY EFFORT WILL BE MADE TO MAINTAIN THE MOMENTUM FOR MANY YEARS TO COME, SIR EDWARD SAID.

THE HONG KONG HOUSING SOCIETY, WHICH CONTRIBUTED SOME 3 700 FLATS TOWARDS LAST YEAR'S TOTAL PUBLIC HOUSING PRODUCTION, WILL CONTINUE TO PLAY A VALUABLE ROLE, COMPLEMENTARY TO THAT OF THE HOUSING AUTHORITY.

THE SOCIETY IS NOW DIRECTING ITS ENERGIES TOWARDS THE URBAN IMPROVEMENT SCHEME AND THE PROVISION OF SMALL ESTATES IN RURAL AREAS, SIR EDWARD SAID.

HE SAID THAT MORE THAN 34 000 FLATS AND HOUSES WERE COMPLETED LAST YEAR BY THE PRIVATE SECTOR.

+NOT SURPRISINGLY, PERHAPS, PRODUCTION AT THIS LEVEL, COUPLED WITH HIGH INTEREST RATES AND PROPERTY VALUES INFLATED BY SPECULATIVE ACTIVITIES IN RECENT YEARS, LED TO AN ABNORMALLY HIGH NUMBER OF UNSOLD PROPERTIES, HE SAID.

BUT, HE ADDED, THE LEVELLING OFF OF SALE PRICES AND A LOWERING OF MORTGAGE INTEREST RATES HAD PUT MORE OF THIS LARGE STOCK OF ACCOMMODATION WITHIN THE REACH OF THOSE SEEKING HOUSING.

ON THE HOME OWNERSHIP SCHEME, SIR EDWARD NOTED THAT THE POLICY OF EXCLUDING LAND VALUE FROM THE SELLING PRICE OF THESE FLATS HAD PROVED VERY POPULAR --- OVER 70 000 APPLICATIONS WERE RECEIVED FOR THE FIRST 6 600 FLATS OFFERED FOR SALE ON THESE TERMS PROGRAMME WILL BE CONTINUED ON THIS BASIS.

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