Hong Kong sets goal to slash public housing waitlist to under four years by 2030

In a recent policy address, Chief Executive John Lee laid out a five-year blueprint aiming to reduce the public rental housing queue to under four years by 2030, improving on the present 4.5-year average. The initiative targets the construction of 196,000 new public flats, of which 30,000 will be Light Public Housing, and a systematic removal of substandard subdivided units through a basic housing unit regime. Lee stressed tighter enforcement against misuse of public homes and faster turnover to help residents move up the housing ladder.

To underpin supply, the government will release 2,500 hectares of "spade-ready" land over the next decade, with 1,400 hectares ready within five years, and will promote modular integrated construction for efficiency. Urban renewal will receive at least HK$40 billion from the Urban Renewal Authority, including projects in the Northern Metropolis. The long-term mix envisions public rental housing accounting for 40 % of total housing, with subsidised sales and private homes each covering 30 %.