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Chapter 11

Housing

The Government ensures that all those who cannot afford private rental accommodation have access to subsidised public rental housing. Rents are set at affordable levels. During the year, new legislation was passed to provide a more flexible framework that allows both upward and downward adjustment of rents according to changes in tenants' household income. The new law will come into effect on January 1, 2008.

In December 2007, the total housing stock in Hong Kong amounted to 2 483 700 flats, comprising 711 300 public rental housing flats1, 397 900 subsidised home ownership flats and 1 374 500 flats in the private sector. About 30 per cent of Hong Kong's population live in public rental housing flats with another 18 per cent in subsidised home ownership flats.

Housing Policy

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

• 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

• the Government should maintain a fair and stable operating environment for the private property market by ensuring adequate land supply and the provision of an efficient supporting infrastructure.

1

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.