HONG KONG - The Hong Kong Special Administrative Region (HKSAR) government will increase the supply of subsidized flats for sale to meet the public's demand for housing, the city's Chief Executive Leung Chun-ying said on Tuesday.
Speaking to reporters before attending the Executive Council meeting this morning, Leung said the sale of Home Ownership Scheme Flats in 2014 was substantially oversubscribed, reflecting the fact that the middle class could not afford to buy private houses due to surging prices.
The HKSAR government will try its best and use a multi-pronged approach to increase the supply of subsidized housing for sale, he said.
However, rising the flat supply requires an increase in both available land and construction workers, Leung said, noting that the society had not yet reached a consensus on these two issues.
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