RESIDENTIAL PROPERTY | Staff Reporter, Hong Kong

Government to shoulder extra cost of subsidised flats

CE Lam affirmed her commitment to lend assistance to the Housing Society.

The government is willing to bear the additional costs of housing in an effort to make subsidised sale flats released by the Housing Authority and the Housing Society cheaper, Hong Kong chief executive Carrie Lam said in a statement.

Also read: Government unveils 5 sites up for tender in July-September

The government earlier announced that it will revise the affordability test of the pricing mechanism for subsidised sale flats. CE Lam believes that the new pricing policy may affect the Housing Society even though it is a non-government organisation.

In this regard, she assured that the government is willing to liaise with the Housing Society should they come across financial difficulties due to lower selling prices. 

CE Lam added that the government will ask the body to set the prices of its subsidised sale flats according to the affordability of target groups. She believes the issue can be tackled by re-examining the price the body needs to pay for government land.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.