China-HK Chief Executive/Housing Policy

Carrie Lam on Hong Kong gov't's efforts on housing policy

  • English

Shotlist


Hong Kong, China - Oct 16, 2019 (HKTVB - No access Chinese mainland/Hong Kong)
1. Hong Kong Chief Executive Carrie Lam Cheng Yuet-ngor addressing
2. SOUNDBITE (Chinese) Carrie Lam Cheng Yuet-ngor, Hong Kong Chief Executive:
"Housing is the toughest livelihood issue facing Hong Kong society. It is also a source of public grievances. I have never taken this matter lightly."
3. SOUNDBITE (Chinese) Carrie Lam Cheng Yuet-ngor, Hong Kong Chief Executive:
"I therefore proposed the introduction of Starter Homes (SH) for Hong Kong Residents and converted the private residential project of the Urban Renewal Authority (URA) at Ma Tau Wai Road into an SH Pilot Project for sale. We have proposed legislation to levy 'Special Rates' on vacant first-hand private residential units to encourage developers to expedite the supply of completed flats, in order to reduce hoarding. To ensure that the various types of subsidized sale flats (SSFs) are affordable for target households, I revised the pricing mechanism in the middle of last year by delinking the selling prices of flats under the Home Ownership Scheme (HOS) from the market prices of private residential properties, and adopting the affordability of applicants as the basis while ensuring that at least 75 percent up from 50 percent of the number of HOS flats for sale are affordable."
4. Lam addressing
5. SOUNDBITE (Chinese) Carrie Lam Cheng Yuet-ngor, Hong Kong Chief Executive
"Despite our significant efforts to adjust the housing policy, we may not have eased the minds of the general public. I hereby set a clear objective that every Hong Kong citizen and his family will no longer have to be troubled by or pre-occupied with the housing problem, and that they will be able to have their own home in Hong Kong, a city in which we all have a share."

FILE: Hong Kong, China - Date Unknown (CCTV - No access Chinese mainland)
6. Various of Victoria Harbor, city view

FILE: Hong Kong, China - Aug 8, 2019 (CCTV - No access Chinese mainland)
7. Various of Golden Bauhinia Square, Chinese national flag, flag of Hong Kong Special Administrative Region (HKSAR)

Storyline


Hong Kong Special Administrative Region(HKSAR) Chief Executive Carrie Lam introduced the HKSAR government's great efforts on the housing policy in a pre-recorded annual policy address released on Wednesday after her speech was disrupted by protesting lawmakers in the Legislative Council.

In the address, Lam focused on housing and land shortages in a city that has some of the highest property prices in the world and the housing was part of the root of public anger.

"Housing is the toughest livelihood issue facing Hong Kong society. It is also a source of public grievances. I have never taken this matter lightly," she said.

Great efforts have been made by the HKSAR government in adjusting the housing policy for different groups of people, said Lam.

The Green Form Subsidized Home Ownership Scheme (GSH) to provide subsidized sale flats (SSFs) that specifically cater for public rental housing tenants have been regularized. About 2,500 flats were sold last year.

The White Form Secondary Market Scheme (WSM) for middle-income families have been regularized with the quota increasing gradually.

Besides another housing policy for young professionals, the government also amended the pricing mechanism, according to the chief executive.

"I therefore proposed the introduction of Starter Homes (SH) for Hong Kong Residents and converted the private residential project of the Urban Renewal Authority (URA) at Ma Tau Wai Road into an SH Pilot Project for sale. We have proposed legislation to levy 'Special Rates' on vacant first-hand private residential units to encourage developers to expedite the supply of completed flats, in order to reduce hoarding. To ensure that the various types of subsidized sale flats (SSFs) are affordable for target households, I revised the pricing mechanism in the middle of last year by delinking the selling prices of flats under the Home Ownership Scheme (HOS) from the market prices of private residential properties, and adopting the affordability of applicants as the basis while ensuring that at least 75 percent up from 50 percent of the number of HOS flats for sale are affordable," she said.

Lam pledged more measures to address the city's housing shortage.

"Despite our significant efforts to adjust the housing policy, we may not have eased the minds of the general public. I hereby set a clear objective that every Hong Kong citizen and his family will no longer have to be troubled by or pre-occupied with the housing problem, and that they will be able to have their own home in Hong Kong, a city in which we all have a share," she said.

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  • ID : 8124581
  • Dateline : Oct 16, 2019/File
  • Location : HK,China
  • Category : economy, business and finance
  • Duration : 2'02
  • Audio Language : Chinese/Nats
  • Source : China Central Television (CCTV),HKTVB
  • Restrictions : See shotlists
  • Published : 2019-10-16 14:25
  • Last Modified : 2019-10-17 16:17:00
  • Version : 4

China-HK Chief Executive/Housing Policy

Carrie Lam on Hong Kong gov't's efforts on housing policy

Dateline : Oct 16, 2019/File

Location : HK,China

Duration : 2'02

  • English


Hong Kong, China - Oct 16, 2019 (HKTVB - No access Chinese mainland/Hong Kong)
1. Hong Kong Chief Executive Carrie Lam Cheng Yuet-ngor addressing
2. SOUNDBITE (Chinese) Carrie Lam Cheng Yuet-ngor, Hong Kong Chief Executive:
"Housing is the toughest livelihood issue facing Hong Kong society. It is also a source of public grievances. I have never taken this matter lightly."
3. SOUNDBITE (Chinese) Carrie Lam Cheng Yuet-ngor, Hong Kong Chief Executive:
"I therefore proposed the introduction of Starter Homes (SH) for Hong Kong Residents and converted the private residential project of the Urban Renewal Authority (URA) at Ma Tau Wai Road into an SH Pilot Project for sale. We have proposed legislation to levy 'Special Rates' on vacant first-hand private residential units to encourage developers to expedite the supply of completed flats, in order to reduce hoarding. To ensure that the various types of subsidized sale flats (SSFs) are affordable for target households, I revised the pricing mechanism in the middle of last year by delinking the selling prices of flats under the Home Ownership Scheme (HOS) from the market prices of private residential properties, and adopting the affordability of applicants as the basis while ensuring that at least 75 percent up from 50 percent of the number of HOS flats for sale are affordable."
4. Lam addressing
5. SOUNDBITE (Chinese) Carrie Lam Cheng Yuet-ngor, Hong Kong Chief Executive
"Despite our significant efforts to adjust the housing policy, we may not have eased the minds of the general public. I hereby set a clear objective that every Hong Kong citizen and his family will no longer have to be troubled by or pre-occupied with the housing problem, and that they will be able to have their own home in Hong Kong, a city in which we all have a share."

FILE: Hong Kong, China - Date Unknown (CCTV - No access Chinese mainland)
6. Various of Victoria Harbor, city view

FILE: Hong Kong, China - Aug 8, 2019 (CCTV - No access Chinese mainland)
7. Various of Golden Bauhinia Square, Chinese national flag, flag of Hong Kong Special Administrative Region (HKSAR)


Hong Kong Special Administrative Region(HKSAR) Chief Executive Carrie Lam introduced the HKSAR government's great efforts on the housing policy in a pre-recorded annual policy address released on Wednesday after her speech was disrupted by protesting lawmakers in the Legislative Council.

In the address, Lam focused on housing and land shortages in a city that has some of the highest property prices in the world and the housing was part of the root of public anger.

"Housing is the toughest livelihood issue facing Hong Kong society. It is also a source of public grievances. I have never taken this matter lightly," she said.

Great efforts have been made by the HKSAR government in adjusting the housing policy for different groups of people, said Lam.

The Green Form Subsidized Home Ownership Scheme (GSH) to provide subsidized sale flats (SSFs) that specifically cater for public rental housing tenants have been regularized. About 2,500 flats were sold last year.

The White Form Secondary Market Scheme (WSM) for middle-income families have been regularized with the quota increasing gradually.

Besides another housing policy for young professionals, the government also amended the pricing mechanism, according to the chief executive.

"I therefore proposed the introduction of Starter Homes (SH) for Hong Kong Residents and converted the private residential project of the Urban Renewal Authority (URA) at Ma Tau Wai Road into an SH Pilot Project for sale. We have proposed legislation to levy 'Special Rates' on vacant first-hand private residential units to encourage developers to expedite the supply of completed flats, in order to reduce hoarding. To ensure that the various types of subsidized sale flats (SSFs) are affordable for target households, I revised the pricing mechanism in the middle of last year by delinking the selling prices of flats under the Home Ownership Scheme (HOS) from the market prices of private residential properties, and adopting the affordability of applicants as the basis while ensuring that at least 75 percent up from 50 percent of the number of HOS flats for sale are affordable," she said.

Lam pledged more measures to address the city's housing shortage.

"Despite our significant efforts to adjust the housing policy, we may not have eased the minds of the general public. I hereby set a clear objective that every Hong Kong citizen and his family will no longer have to be troubled by or pre-occupied with the housing problem, and that they will be able to have their own home in Hong Kong, a city in which we all have a share," she said.

ID : 8124581

Published : 2019-10-16 14:25

Last Modified : 2019-10-17 16:17:00

Source : China Central Television (CCTV),HKTVB

Restrictions : See shotlists

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