ENG-2003 — Page 252

CHAPTER 11

Housing

Under the new policy framework, the provision of assistance to those in genuine need continues to lie at the heart of the Government's housing policy. The Government will work to ensure that all those who cannot afford adequate accommodation in the private market have the opportunity to have access to subsidised public rental housing. It is committed to maintaining the average waiting time for public rental housing at around three years and ensuring that there is an adequate supply of public rental housing through a rolling construction programme run by the Hong Kong Housing Authority.

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THE year of 2003 marked the 50th year of public housing development in Hong Kong. About one third of the population in Hong Kong now lives in public rental housing with another 20 per cent in subsidised home ownership flats. The total housing stock in Hong Kong in December amounted to 2 363 410 flats, comprising 689 450 public rental housing (PRH) flats1, 394 630 subsidised home ownership flats and 1 279 330 flats in the private sector.

The revised estimate of public expenditure on housing in 2003-04 was $27.9 billion and reached 10 per cent of total public expenditure.

Housing Policy

The Statement on Housing Policy delivered by the Secretary for Housing, Planning and Lands on November 13, 2002 set out three major guiding principles of the Government's housing policy. Firstly, the focus of the Government's subsidised housing policy should be on the provision of assistance to low-income families who cannot afford private rental accommodation. Secondly, the Government should minimise its intervention in the private property market. Thirdly, the Government should maintain a fair and stable operating environment for the private property market by ensuring adequate land supply and provision of efficient supporting infrastructure.

Since the Government's announcement on the repositioning of its housing policy, the Hong Kong Housing Authority (HKHA)2 has realigned its activities with the new

1

Including public rental housing and interim housing flats operated by the Hong Kong Housing Authority and public rental housing flats operated by the Hong Kong Housing Society.

2 The HKHA, established in 1973, is a statutory body responsible for implementing the majority of Hong Kong's public housing programmes. It plans and builds public housing for renting to low-income people. It manages public rental housing estates, interim housing, transit centres, flatted factories and ancillary commercial and community facilities.