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Chapter 11

Housing

The Hong Kong Housing Authority has been realigning its activities since the Government repositioned its housing policy. It has withdrawn from the provision of home ownership assistance schemes and divested itself of its 180 retail and car parking facilities. The authority is now focused on its core function of providing subsidised rental housing to those who cannot afford rented accommodation in the private market.

It is the Government's policy to provide subsidised public rental housing to low income families who cannot afford private rental accommodation. About 31 per cent of the population in Hong Kong now lives in public rental housing with another 18 per cent in subsidised home ownership flats. By the end of the year, the total housing stock in Hong Kong totalled 2 451 300 flats, comprising 720 300 public rental housing flats1, 390 500 subsidised home ownership flats and 1 340 600 flats in the private sector.

The revised estimate of public expenditure on housing in 2005-06 was $15.9 billion, accounting for 6.3 per cent of total public expenditure.

Housing Policy

The Statement on Housing Policy announced by the Secretary for Housing, Planning and Lands in 2002 set out three major guiding principles of the Government's housing policy:

1

• 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;

• The Government should minimise its intervention in the private property market; and

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