Housing | 219
The Government has earmarked sites in Tsing Yi, Diamond Hill, Sha Tin, Tai Po, Tuen Mun and other areas for about 5 000 MHPP flats. The first of about 1 000 flats will be completed in 2014 in Tsing Yi with pre-letting in late 2012. The second project will be in Shatin. The Government will identify more sites for the MHPP.
Housing for Groups in Special Need
The Chief Executive pledged in his Policy Address that the family shall be promoted as a core social value and that the elderly shall be given special care. This edict is reflected in the HKHA's allocation and management of public rental housing.
For an elderly person who wishes to live alone, he or she can do so by applying for a public rental housing flat under the Single Elderly Persons Priority Scheme. Two or more unrelated elderly persons can also apply for the Elderly Persons Priority Scheme if they wish to live together.
The HKHA kept the average waiting time for public rental housing for single elderly applicants at about one year in 2010.
The 'Harmonious Families Priority Scheme', introduced in 2009, continues to encourage families to live with and to take care of their elderly relatives in public rental housing estates.
Completion of Housing Units
Some 19 800 residential units were completed in 2010, of which about 13 400 were private housing flats (excluding village houses) and 6 400 public housing flats.
Supporting Infrastructure
The infrastructure for supporting housing development is provided in a programmed and structured manner. To avoid delays in housing development caused by a lack of infrastructural facilities, the Government has adopted a fast-track approach to address possible problems. At present, there are 11 such projects in different stages of implementation. Their estimated combined cost of about $5.6 billion has been approved.
Private Sector Housing
Private Residential Property Market
The Government has been monitoring the private residential property market's development closely and remains alert to the risks of a property bubble forming. In February, April, August, October and November 2010, the Government introduced various measures in four major areas to ensure the property market's healthy and stable development. These included increasing supply to tackle the problem at source, combating speculative activities, increasing the transparency of property transactions, and preventing excessive expansion in mortgage lending.
Sale of Uncompleted Residential Properties
Developers of private residential property may apply to the Director of Lands for consent to put up units for sale before completion. In approving pre-sale applications
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