Average Wait For Public Housing Down To 5.6 Years

"); jQuery("#212 h3").html("

Related News Programmes

"); });

2022-11-23 HKT 21:54

Share this story

facebook

  • The Housing Authority says both the average wait for a public housing flat and the waiting time for elderly single applicants have dropped. Photo: RTHK

    The Housing Authority says both the average wait for a public housing flat and the waiting time for elderly single applicants have dropped. Photo: RTHK

The Housing Authority said on Wednesday that the average wait for a public housing flat as of the end of September had been shortened from six to 5.6 years.

The average waiting time for elderly individual applicants, meanwhile, dropped from 4.1 to 3.9 years.

The authority attributed the improvement to the allocation of more than 10,000 public housing units in the third quarter of this year.

Sze Lai-shan, deputy director of the Society for Community Organisation, said while the news is welcome, it's still not good enough.

"I have been looking forward to the decrease of waiting time. It's good for the people, and that means the supply of public housing is going faster. But of course it's still not good [enough], because 5.6 years is still very long time. I think ideally it should be three years," she said.

The Federation of Public Housing Estates also welcomed the news, but said the average wait is unlikely to drop sharply given the low number of newly built public housing units.

The group added that it hopes officials will divulge more details about the light public housing scheme as soon as possible, such as the selection of sites and timetable for development.

Chief Executive John Lee said in his Policy Address in October that the government's target is to shorten the average waiting time for public housing to 4.5 years in four years.

RECENT NEWS

HSBC Tests Blockchain-Based Issuance For Structured Products In Hong Kong

HSBC has completed a private placement of its first digitally native structured product in Hong Kong. The bank issued U... Read more

OSL Group Secures Austrian MiCAR License To Expand European Crypto Services

OSL Group has secured authorisation as a Crypto-Asset Service Provider (CASP) from the Austrian Financial Market Author... Read more

SFC Requires Brokers And Crypto Platforms To Stop Using OTPs For Client Login

The Securities and Futures Commission (SFC) has ordered internet brokers and virtual asset trading platforms in Hong Ko... Read more

Hang Seng Bank Integrates Alipay+ For Cross-Border QR Payments

Hang Seng Bank has partnered with Alipay+ to enable its customers to make cross-border QR payments directly through the... Read more

Animoca Brands And Visa Pilot AI Agent Shopping In Hong Kong

Animoca Brands has completed a live pilot of AI-powered commerce capabilities in Hong Kong, developed in collaboration ... Read more

GIM Closes US$20M Series A To Build Agentic AI Systems For Capital Markets

Grace Investment Machine (GIM) has secured US$20 million in a Series A funding round to develop agentic AI systems for ... Read more