The Hong Kong government is exploring different housing ratios by district, including a 50:50 split for areas like the proposed San Tin Technopole. The average waiting time for a government-subsidised rental flat rose to 5.8 years in March. Chief Executive John Lee announced sufficient land has been identified to develop 410,000 public housing units, surpassing the target by 100,000 units. Additionally, the Housing Bureau proposed a 10 percent rent increase effective next year, with Secretary for Housing Winnie Ho assuring that rent assistance measures would help most residents afford the higher costs.
The city's development minister has suggested that the goal to increase the ratio of public housing in Hong Kong could be lowered once the average waiting time for public rental flats decreases.
Bernadette Linn, the Secretary for Development, stated that the authorities initially aimed for a 70:30 split between public and private housing to prioritise boosting public housing supply.
In 2022, public rental accommodation made up 30.7 percent of Hong Kong's housing, according to the Housing Authority. The previous administration under Carrie Lam set a 10-year target in 2018 to raise public housing to 70 percent of the total housing stock, with the remaining 30 percent allocated for private housing. This target has been maintained by Chief Executive John Lee, who assumed office in July 2022.
The government Is considering setting different housing ratios based on the district, with a possible 50:50 split in areas like the proposed San Tin Technopole in the northern New Territories, according to Linn.
As of March, the average waiting time for a government-subsidised rental flat was 5.8 years, slightly up from 5.7 years in the previous quarter. Last October, Chief Executive Lee announced that the government had found enough land to develop around 410,000 public housing units, exceeding the supply target by about 100,000 units.
Additionally, the Housing Bureau recently proposed a 10 percent rent increase to take effect next year. Secretary for Housing Winnie Ho mentioned that rent assistance measures would help most residents afford the higher prices.
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