Private Housing Supply To Hit New Target

Just over 8,800 private homes are to be built after the government put on sale 15 residential sites in its land-sale programme for the next fiscal year. Eight of them were carried over from this year's land list, including a site on the Peak that failed to find a buyer last year, while seven are new sites.

Taking together flats developed by the MTR, the Urban Renewal Authority and private redevelopment projects, total private supply is expected to reach 15,540 units.

That will exceed the government's new target of 13,500 units, which has been scaled back because of the government's increased emphasis on public housing.

"The relative decrease in number reflects the latest number as reflected in the Long Term Housing Strategy," said the Secretary for Development, Michael Wong. "The ratio between public and private housing has been adjusted."

Wong said previously the ratio between public housing and private units had been 6:4 and now it was 7:3.