More Than 200 Applicants Chase 76 Transitional Homes

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

Related News Programmes

"); });

2022-07-27 HKT 15:08

Share this story

facebook

  • More than 200 applicants chase 76 transitional homes

An NGO said on Wednesday that the number of applications for its new transitional flats is almost triple the number available, illustrating the seriousness of Hong Kong's housing shortage.

Lok Kwan Social Service has so far received 204 applications for its two projects in Ho Man Tin which will have 76 flats. The application period ends on July 29.

The projects are subsidised by the government and are expected to be completed in the third and fourth quarter of this year.

Stanley Ng, chairman of the organisation, said the government's main goal should be to provide public flats faster.

"It's good for the government to build transitional housing, but the most important thing to solve housing problems is to speed up land development and building flats. The government should try its best to reach its aim of reducing the waiting time to three years," he said.

The average wait for a public housing flat now stands at 6.1 years.

Ng suggested that the government can renovate old buildings and turn them into transitional flats as it is more efficient than building new ones.

RECENT NEWS

TOPPAN Edge Becomes Japans First Qualified VLEI Issuer

The Global Legal Entity Identifier Foundation (GLEIF) has announced TOPPAN Edge, a subsidiary of TOPPAN Holdings that p... Read more

SFC And Dubais DFSA Partner On Cross-Border Regulatory Cooperation

The Dubai Financial Services Authority (DFSA), the independent regulator of the Dubai International Financial Centre (D... Read more

Toss To Launch Finance Super-App In Australia, Plans Won-Based Stablecoin

South Korea’s fintech unicorn Toss is preparing to launch its finance super-app in Australia before the end of this y... Read more

China Funds Research On Stablecoins And Cross-Border Oversight

China’s largest government-backed research funder has begun accepting applications for studies on stablecoins and the... Read more

XTransfer, CZBank Shanghai Branch Form Cross-Border Finance Partnership

XTransfer has entered into a partnership with the Shanghai branch of China Zheshang Bank (CZBank). The agreement was si... Read more

Brinc Launches VentureVerse Through Acquisition Of OG Club

Brinc, a Hong Kong-based venture acceleration and corporate innovation firm, has acquired OG Club, a decentralised auto... Read more