Policy Review

In January 1997, the government published for public consultation a
review of its Long Term Housing Strategy. This document contained 41
specific recommendations designed to meet the above housing objectives.
Public consultation ended on May 31. Taking into consideration the
original recommendations, public views and new housing initiatives
announced by the Chief Executive in October, the government will
promulgate a revised housing strategy in early 1998, with emphasis on
three major targets:

• increasing the supply of flats to meet forecast demand for housing,
  in particular by providing a steady and sufficient supply of serviced
  land. At least 85 000 flats will be built each year starting from
  1999-2000;
• encouraging wider home ownership, especially among public
  housing tenants. The government aims to achieve a home ownership
  rate of 70 per cent by 2007; and
• ensuring that public rental housing is provided to those in genuine
  need. The government has vowed to cut the average waiting time
  for allocation of public rental housing to three years by 2005.

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