Five-Year Plan: Chief Exec. John Lee says wait for subsidised rental flats will fall to under 4 years by 2030
The average waiting time for subsidised rental housing will be reduced to under four years by 2030 as Hong Kong boosts its housing supply, leader John Lee has announced as part of the city’s first Five-Year Plan. Delivering the half-decade policy blueprint on Wednesday morning, the chief executive said that the city will “substantially increase […]
Hong Kong's leader, John Lee, announced that the average waiting time for subsidized rental housing will drop to under four years by 2030 as part of the city's first Five-Year Plan. Lee highlighted that the government would substantially increase public housing supply, both in the short and long term. The Composite Waiting Time for Subsidised Rental Housing, which represents the average wait time for applicants, is projected to fall from 4.5 years in 2026-27 to less than four years by 2030-31.
The plan also includes offering larger homes across the next decade, with a focus on larger units for new builds. By 2031/32, a quarter of subsidized sale flats will have an area of 45 square meters or more, up from the current 20 percent. Lee further revealed that 40 percent of the city's new homes will be public rental units, while subsidized sale units will account for 30 percent, with the remaining 30 percent being private residential properties.
The government is also set to enforce the Basic Housing Unit regulatory regime, which aims to ensure that residential buildings meet minimum living standards before they can be legally let out.
Written by urgent.news from Hong Kong Free Press's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
