Building.hk eBulletin  

 

Industry News <Search  <Archives  <eBulletin   Next>  


January 15, 2018

Starter homes will play a key role in Hong Kong
Chief Executive Carrie Lam said earlier that as the land reserved for public housing is tight, supply from elsewhere is needed for Starter Homes. Sites owned by property developers or to be bought from the government will be an option. 
     Chief Executive Carrie Lam emphasized, “How do we make the Starter Homes affordable if they are to be built by the private developers? It is a matter of government policy decision. I made it very clear that the eligibility of the Starter Homes and the pricing and the sort of transfer mechanisms are all policy issues for the government. Some we have an answer already, like the eligibility, in terms of the income threshold. Some questions I have yet to address and discuss because they are very complicated, especially, we cannot just in isolation look at Starter 
Homes, there is also a question of the pricing and the transfer mechanism or the disposal mechanism of the Home Ownership Scheme's and the Green Form houses. So this is government 
policy, so you don't have to worry, at the end of the day, it is the government who will dictate the policy and just ask the developers to help to build it under a certain scheme. Details on the plan will be discussed with legislators and the community, she added.
     In a recent news report, Sun Hung Kai Properties (SHKP) executive director Adam Kwok Kai-fai said Starter Homes are essential to help young people climb the property ladder. He declined to say what prices he deems reasonable for starter homes, saying he would rather wait for the government's announcement of prices for those flats. Kwok also said developers should partner with non-governmental organizations to provide cheap rental housing to young people. SHKP currently has a partnership with the Hong Kong Sheng Kung Hui to develop a community complex in Yuen Long. Half of the premises will house young people. Construction of the project will start next year.









 







Copyright © Building.hk All rights reserved.