Gov't anticipates 438,000 housind demand for next decade

In response, the government has revised the public-to-private housing ratio to 70:30.

The government projects housing demand to reach as high as 438,000 units over the next decade, and has set a supply target of 440,000 units in line with its Long Term Housing Strategy (LTHS) published in 2024.

Reflecting this demand, the government has revised its public-to-private housing ratio for new units from 60:40 to 70:30, resulting in a public housing supply goal of 308,000 units and a private housing target of 132,000 units. 

Authorities said that there is sufficient land available to meet the public housing goal. It is also open to adjusting public housing output based on evolving circumstances. 

Meanwhile, private housing will have land allocated for approximately 80,000 units over the next five years through land sales and railway development projects.

The government’s increased supply of public housing will allow for a greater emphasis on subsidised sale flats (SSF) to promote home ownership. As outlined in the recent Policy Address, the Housing Authority (HA) will adopt a 60:40 split for the planning and production of public rental housing (PRH) and SSF units.

Additionally, policies related to SSF are under review, with new measures to enhance young people’s access to home ownership. 

The HA plans to provide an additional ballot number to young White Form applicants and increase quotas under the White Form Secondary Market Scheme, alongside setting up dedicated quotas for young applicants. For SSF sales, changes will be introduced to boost chances for repeat applicants.

To tackle tenancy abuse, the HA is implementing risk-based measures, including increased communication with Mainland authorities to verify tenants’ property ownership in China. Additionally, the Cherish Public Housing Resources Award Scheme will offer rewards for non-anonymous tips leading to the identification of PRH tenancy abuse.

The HA also plans to review income limits under the Well-off Tenants Policies, requiring financially capable PRH households to transition out of public housing. This review may lead to an increase in the additional rent for higher-income tenants, guided by the “ability-to-pay” principle.

Furthermore, the HA will adjust the balance of Green Form and White Form applications for Home Ownership Scheme sales, aiming to support PRH tenants ready for property ownership.