ENG-1997 — Page 241

CHAPTER 13

HOUSING

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HOUSING in Hong Kong has undergone major changes over the past two decades. More than 1.3 million public and private flats have been built. Today, public rental housing accommodates about 2.5 million people (39 per cent of the population) compared with 1.7 million in 1975. Since 1978, the government has built more than 240 000 subsidised flats for sale under various home ownership schemes. The joint efforts of the government and the private sector have lifted the overall home ownership rate to 52 per cent, compared with 42 per cent 10 years ago.

In 1997, the public sector produced about 46 200 flats, of which about 22 300 were for sale, and the private sector produced 18 200 flats.

Housing Policy

The government's objectives are to help all households gain access to adequate and affordable housing and to encourage home ownership in the community. It seeks to achieve these goals by:

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assessing housing demand regularly and accurately;

• providing a sufficient supply of land, together with supporting infrastructure, shortening development procedures and relieving constraints on the construction industry;

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drawing up a long-term flat production programme and putting in place an efficient mechanism for monitoring progress and problem solving;

creating the conditions to enable the private sector to make the fullest possible contribution towards meeting the demand for housing, while at the same time monitoring the private property market and, if necessary, taking measures to discourage property speculation;

implementing subsidised housing schemes to enable those in the relevant income groups to buy their own homes;

providing public housing at reasonable rents to those who cannot afford any other type of housing; and

implementing initiatives to address the housing needs of groups in special need.

Policy Review

In January 1997, the government published for public consultation a review of its Long Term Housing Strategy. This document contained 41 specific recommendations designed to meet the above housing objectives. Public consultation ended on May 31.

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