Housing Society discusses future housing development plans

On Dec. 19, the Chairman of the Housing Society Supervisory Board, Prof Ling Kar-kan announced that the next five years will mark a peak period for housing construction, with 17,000 units expected to be completed. He acknowledged the cash flow challenges that lie ahead, emphasizing the need for prudent financial management. However, he reaffirmed that the pricing mechanism would remain intact, noting that the demand for housing in Hong Kong is rigid, and economic conditions have minimal impact on the sale of subsidized housing.

Ling also reported positive outcomes in combating the abuse of public housing, with 30 households returning their units. New leases include clauses aimed at discouraging wealthy tenants, and residents are encouraged to provide information to help the Housing Society conduct more effective inspections. He characterized the issue of abuse as still being under control.

Regarding the government's plan to develop the Northern Metropolis, Ling expressed support but clarified that the Housing Authority would not participate directly. Instead, the focus will be on providing resettlement units necessary for the displaced residents due to the Northern Metropolis development, facilitating a smoother overall process. He added that resettlement housing estates are gradually becoming available, with some subsidized sale housing set to launch next year. The redevelopment of Shek Pai Wan is nearing completion, allowing residents affected by the redevelopment of Yue Kwong Chuen to relocate.

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