HONG KONG 2004 - Housing


	Introduction

	Housing Policy

	Institutional Framework

	Public Rental Housing

	Divestment of Commercial Properties

	Home Ownership

	Housing for Groups in Special Need

	Housing Supply

	Private Sector Housing

	Home Pages

Introduction

The provision of assistance to those in
genuine need continues to lie at the heart
of the Government's housing policy. The
Government ensures that all those who
cannot afford adequate accommodation in
the private market have access to
subsidised public rental housing. At the
end of 2004, there were 92 560
households on the waiting list for public
rental housing and the average waiting
time was about 1.8 years.

Hong Kong has come a long way in providing subsidised housing to those who cannot afford private housing. About 31 per cent of the population in Hong Kong now live in public rental housing (PRH) with another 18 per cent in subsidised home ownership flats. The total housing stock in Hong Kong in December amounted to 2 397 700 flats, comprising 707 600 PRH flats¹, 384 600 subsidised home ownership flats and 1 305 500 flats in the private sector.

The revised estimate of public expenditure on housing in 2004-05 was $19.5 billion and reached 7.4 per cent of total public expenditure.

1	Including public rental housing and interim housing flats operated by the Hong Kong Housing Authority and public rental housing flats operated by the Hong Kong Housing Society.