Housing woes still top priority

10 initiatives had been unveiled to increase housing supply.

According to a government release, Chief Executive CY Leung said tackling the housing problem is a top priority, and the Government will adopt a multi-pronged approach to restore market equilibrium.

Mr Leung told lawmakers today the solution was to maintain a continuous housing supply to meet home buyers' needs, and those of different groups in society.

A package of 10 short-and-medium-term initiatives had been announced to increase housing supply, adding the pre-sale approval application of uncompleted flats has been expedited, he said.

The My Home Purchase Plan has been amended from a rent-to-buy scheme, to sell the flats directly, he said.

Other measures to increase housing supply include rezoning government, institution or community land as residential, revitalising industrial buildings, and implementing a 'Hong Kong property for Hong Kong residents' policy.

A long-term housing strategy steering committee will assess future demand for public and private housing, while a steering committee on housing land supply chaired by the Financial Secretary is coordinating inter-departmental efforts to boost land supply, Mr Leung said.

Mr Leung assured the public the Government is committed to solving the housing problem.

In his remarks, he also said the Government seeks to strike a balance between land development and conservation.

The Government will promote green buildings, adopt low-carbon amenities and transport, and open up useable land to turn Hong Kong into a new green city, he said.