Page 38 - Public Facilities 2016

PUBLIC FACILITIES

Public housing development

Extract from an English translation of the speech by the Director of
Housing, Mr Stanley Ying, at the Hong Kong Housing Authority regular
open meeting on 7 July 2016

Housing Supply We have been implementing the LTHS
While the governments Long Term for more than a year now since the end
Housing Strategy (LTHS) covers a broad of 2014, and have only achieved partial
range of topics, there are two fundamental results so far. Based on the estimates as at
principles: supply-led and flexibility. As March 2016, in the five-year period from
set out in the LTHS, the government will 2015-16 to 2019-20 HA and the Hong
update the ten-year housing demand Kong Housing Society (HKHS) would
projection annually and present a rolling complete about 97,100 units, comprising
ten-year supply target, taking into account approximately 76,700 PRH units and
the projected demand. In the Annual 20,400 SSFs. This estimate for public
Progress Report published in December housing completion for the five-year
2015, the government set 460,000 units period starting from 2015-16 is higher
as the supply target for the ten-year than those over the preceding three five-
period from 2016-17 to 2025-26, among year periods. Our efforts in the past period
which 280,000 units are public housing, are already bearing fruits.
comprising 200,000 public rental housing While the supply of public housing is
(PRH) units and 80,000 subsidised sale on the rise, we are still some way off the
flats (SSFs). Some people see this as a latest supply target. In the LTHS Annual
challenging target. Indeed, compared with Progress Report 2015, we explained that
other cosmopolitan cities facing similar should all identified sites be delivered
housing problem, our target is more on time for housing construction, about
ambitious. 255,000 public housing units could be

36 Building Journal