In a recent statement, Lau Chun-kong emphasized the importance of meeting housing demands to maintain societal stability in the long run. This comes after government official Bernadette Linn Hon-ho suggested possible adjustments to the public-private housing ratio as wait times for public housing decrease. Currently, 70% of new housing comes from public rented homes and subsidised flats, with the remaining 30% from the private sector.
Lau stressed the need for revising the ratio to allocate more sites for private development, especially considering the time it takes to bring private residential projects to completion. Experts, like Professor Chau Kwong-wing, support these adjustments to increase affordable housing supply and create a healthier residential market.
The current public-private housing split was set in 2014 after heightened demand for public housing. However, with waiting times increasing, industry professionals urge the government to reconsider its long-term housing policy to address the influx of talent and improve living standards.
As the city grapples with housing challenges, the discussion around public and private housing ratios remains pivotal in ensuring a balanced and sustainable real estate market.