Long-term housing strategy urgently awaited
The government is concentrating on three fronts to increase housing supply to relieve what is often cited as the city’s most pressing livelihood issue, Hong Kong Housing Society Vice- Chairman Marco Wu says. As advisor, Wu assisted CY Leung in formulating the housing policy for the Chief Executive election in March.
Construction of public rental units will move forward apace, and construction of flats for sale under the Home Ownership Scheme ( HOS) will resume, Wu told China Daily, noting that the government is working hard now, to find adequate land to build more rental flats and HOS flats. For residential units in the private market, the government will strive to provide a stable, orderly supply of land to property developers.
“CY has made it clear he will build more public rental units and hopes for early completion of (building) works by a year or two,” Wu said. “He is also steadfast in his determination to resume the HOS as soon as possible. Since it takes time to find suitable sites, the government will, in the meantime, provide 5,000 secondhand HOS flats per year for sale to white-form applicants.”
As to the number of flats required, he said the output should be in line with the actual housing needs. Owing to the fact that the government has not conducted any Long Term Housing Strategy (LTHS) survey since 1998, that kind of planning shall be reintroduced as soon as possible to give the government a clear picture of Hong Kong’s longterm housing needs.
Formulated for the first time in 1984, the LTHS is a forward- looking document that assesses long-term land and housing demands over a period of 10 years or longer, in conjunction with the population policy.
“With such a long- term strategy, the government can anticipate how many people will be affected or will need resettlement,” said Wu. “It also needs to estimate the increase of local population and new arrivals, the number of mainland people and newcomers buying properties in Hong Kong and whether the buyers subsequently live in those properties, rent them or use them for speculation.”
The long- term housing strategy cannot be more urgent, he stressed, and he is pleased to know that Secretary for Transport and Housing Anthony Cheung has indicated that he will take on this huge task.
It is most important to have adequate land supply to back housing development, Wu added, suggesting either Chief Secretary Carrie Lam or Financial Secretary John Tsang lead a high-level interdepartmental group to expedite and smoothen out the process.
As far as Wu knows, the government is proactively looking for “ripe” land with infrastructure, such as idled government quarters, offices, schools, together with sites recovered from short- term tenancies and the conversion of industrial sites, to facilitate early commencement of works in the short run.
In the mid-term, spanning from three to eight years, undeveloped sites in development zones such as Kai Tak, Tung Chung and the north of the New Territories, and idled quarries will be utilized, he said. The new developments will comprise commercial facilities to provide job opportunities in those areas.
As for the long-term land planning over eight years, Wu said it is always Leung’s wish to transform the border area adjacent to Shenzhen into a diverse economic development and conservation zone as Hong Kong’s newest central business district.