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Budget Speech

Housing Supply

153. The Government has identified some 350 hectares of land for the provision of about 330 000 public housing units to meet the demand for about 301 000 public housing units in the coming 10 years.  Of these 330 000 units, about one‑third are scheduled for completion in the first five‑year period with the remaining in the second five‑year period.

154. On private housing, it is estimated that the completion of private residential units will average over 19 000 units annually in the five years from 2022 onward, representing an increase of about 14 per cent over the annual average of the past five years.  The projected first‑hand private residential unit supply for the next three to four years is 98 000 units, reaching a new high in recent years.

155. Besides, the Government has already identified sufficient land for the provision of more than 17 000 transitional housing units.  About 2 300 units are already in operation.  In addition, more than 4 200 units are under construction and are expected for completion this year.  It is expected that another 11 000 more units will be completed for operation by the end of next year.



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