HONG KONG 2005

Introduction

The Hong Kong Housing Authority has
been realigning its activities since the
Government repositioned its housing
policy. It has withdrawn from the provision
of home ownership assistance schemes
and divested itself of its 180 retail and car
parking facilities. The authority is now
focused on its core function of providing
subsidised rental housing to those who
cannot afford rented accommodation in
the private market.

It is the Government's policy to provide subsidised public rental housing to low income families who cannot afford private rental accommodation. About 31 per cent of the population in Hong Kong now lives in public rental housing with another 18 per cent in subsidised home ownership flats. By the end of the year, the total housing stock in Hong Kong totalled 2 451 300 flats, comprising 720 300 public rental housing flats¹, 390 500 subsidised home ownership flats and 1 340 600 flats in the private sector.

The revised estimate of public expenditure on housing in 2005-06 was $15.9 billion, accounting for 6.3 per cent of total public expenditure.


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