,Hong Kong

Long-term strategies needed to resolve HK's housing crisis: report

The latest total housing supply target is unchanged since 2019.

Consistent long-term strategies are needed for Hong Kong to resolve its housing crisis.

OCBC Investment Research, in its report based on the latest policy address, said Hong Kong's total housing supply target for 2022 to 2031—public and private combined—is at 430,000.

Analysts said the latest figure is the same when compared to the 2019 target.

This is despite the government's higher 10-year goal of building 330,000 units from last year's 316,000.

As for the land supply under the 10-year target, analysts said the private sector's supply will remain "relatively tight" at 23%.

The government's target is to achieve 70/30 of land supply to the public and private sectors, as reiterated in the policy address. 

The government's focus on increasing the housing supply would "offer a relief rebound for HK property developers, but not a re-rating," according to OCBC.

The move, however, would benefit developers with a relatively longer land bank like Sun Hung Kai Properties (Properties (SHKP, 16 HK, Buy, Fair value HKD145), and those with a larger portion of farmland like Henderson Land  (12 HK, Buy, Fair value HKD43.2).

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