TNAG-1574-FCO40-2147-Housing-in-Hong-Kong-1986 — Page 6

to

ownership supply to meet demand, and as a prudent move improve the Society's financial provision of public housing. flats sold will have

will have little property developers would find cause to criticise this proposal.

position towards future The relatively few additional impact on the private sector is therefore unlikely that

Publicity

16

market, and it

Any publicity would be left to the Society, but the Government and Housing Society could emphasise, if necessary, that:

(a) the sale of a limited number of flats in the Society's building programme is a prudent move to generate finance for further housing development;

(b)

(c)

there is sustained high demand for home ownership housing among public housing tenants, and more well-off tenants would be encouraged to buy their Own flats, thereby releasing their heavily subsidized units for more needy families;

and

there would be little effect upon the private sector property market since few potential purchasers of the Society's flats would be expected to purchase in the private market.

Advice sought

17

Members will be asked to advise whether recommendation in paragraph 14 should be approved.

the

will

(The Secretary for Housing, Mr. Y.L. PANG, attend before the Council for the discussion of this item.)

25 July 1986

(HOU CR 1/7111/73 III)

COUNCIL CHAMBER