More resources devoted to public housing

More resources devoted to public housing

The Government is devoting more resources to public housing, Secretary for Development Michael Wong said today.

Speaking to the media, Mr Wong said there is a huge shortage of public housing.

“We think it is reasonable to devote more resources to public housing. We have done so, for example, by picking nine sites on Anderson Road and in Kai Tak.

“Originally, those sites would be put in the Land Sale Programme, those sites will now be devoted to public housing. We think it is the right thing to do.”

On whether this will affect the private housing market, Mr Wong said many factors affect property prices.

“Land supply by the government is but only one factor, interest rates, the flow of capital and also the land supply that can be provided through redevelopment by private developers, there are all different factors that contribute to housing prices.”

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