The land supply for private housing in the coming financial year is expected to be sufficient to build almost 32,000 flats, exceeding the government target for the fourth consecutive year.
The government`s plan to sell 28 plots of land for private housing in 2017-18 is expected to provide almost 19,000 flats, while the remainder will come from railway property, urban renewal and private redevelopment projects.
More from the South China Morning Post:Why Hong Kong is failing to rein in housing pricesRegina Ip says Beijing offered her top jobs to quit Hong Kong leadership raceChina will take `necessary measures` in event of regime collapse in N Korea, says defence officialAlthough the total supply of 31,620 flats ? the most since 2012-13 ? has again exceeded the target of 18,000 units, Secretary for Development Eric Ma Siu-cheung did not promise to use some of those sites for public housing, even as the average waiting time for public housing hits four years and eight months, far exceeding the target of three years.
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