CY Leung vows to boost housing land supply, even if prices drop by HK$1 million for new flats
Leung Chun-ying also sounds defiant note on use of violence or obstruction to oppose government housing policies
Facing intense criticism for his controversial handling of a housing project in the New Territories, Leung said that while the potential private housing supply would reach about 93,000 flats in the next three to four years – a record since 2004 – his administration would not be satisfied even if the prices of those units dropped by HK$1 million each.
“Hong Kong buyers could save HK$93 billion altogether ... but the government and society cannot be complacent because Hong Kong people’s living quality will not improve without a further increase in supply,” Leung said at a banquet hosted by the Bauhinia Foundation Research Centre think tank.
Leung also sounded a defiant tone, saying: “I remember that in 2012, when development minister Paul Chan attended a forum ... a water bottle was thrown at him.
“The government is not afraid of this kind of violence or obstruction ... We will try our best to win residents’ support, cooperation and understanding in pushing forward development plans.”
Leung’s pledge came just a few days after he took ultimate responsibility for the partial suspension of the Wang Chau housing project in Yuen Long, while denying that he bowed to pressure from rural landlords who opposed the plan, while denying that he had bowed to pressure from rural strongmen with vested land interests.