CE Leung insists rent control is not effective

He pushes for supply boost.

According to a release, Chief Executive CY Leung says increasing supply is the most effective way to tackle Hong Kong’s housing problem, whereas rent control would reduce supply.

Speaking to the media, he said the suggestion to implement or legislate rent controls would trigger a reduction in flats available for rent. Owners may terminate their leases prematurely, bringing harm to tenants of lesser means. The Government’s view on rental controls is consistent and remains unchanged, he added.

Mr Leung said the Long Term Housing Strategy Steering Committee has submitted a report on the public consultation on housing policy, which the Government will take into serious consideration while formulating a housing strategy for the coming decade.