Hong Kong leader Carrie Lam ‘open’ to extending resale restriction on subsidised housing from five to 10 years
Extension could be amended through Legislative Council as early as first half of next year if government takes action
Hong Kong’s leader said on Friday she would keep an open mind on extending the resale restriction period on subsidised flats from five to 10 years, ensuring the homes will be “for people to live in” and not for speculation or profiteering.
“Homes are for people to live in. [The government] should be able to satisfy people’s demand for home ownership,” she said as she concluded a three-day visit to Beijing.
Lam launched a slew of new policies less than a month ago aimed at easing the city’s housing crisis by providing more affordable homes. This included putting 4,431 Home Ownership Scheme (HOS) flats on the market next February at about half the market price, as opposed to the previous 30 per cent discount.
When asked if she would consider extending the resale restriction period on subsidised flats from five to 10 years, the city leader said: “During my earlier meetings with [Hong Kong] political parties, I’ve said that personally, I would keep an open attitude on tightening the resale restrictions.”
She believed the Housing Authority would discuss the proposal “seriously”.
The authority’s subsidised housing committee was likely to discuss the issue again during its next meeting scheduled for September 28.