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Tuesday, September 27, 2016, 12:16

CE vows to continue easing housing burden


HONG KONG – Chief Executive Leung Chun-ying said on Tuesday the government will step up effort to relieve the housing burden on Hong Kong families by constantly carrying out a review of its existing policies.

Speaking to reporters prior to the weekly Executive Council meeting, Leung said the core issue behind high rent and exorbitant property prices remains the land shortage but he added it is not right that people should be denied access to affordable housing throughout their lifetimes.

High house prices and rents, caused by land shortage, have plighted Hong Kong people for many years, making it abnormal as Hong Kong people, specially the youth, are unable to afford the down payments and mortgages of the houses, said Leung.

He emphasized that the government had worked diligently to increase the housing supply, with construction during his term, higher than at any time during the past 12 years. He attributed the success to the collective efforts of departments of the government.

Asked about whether he proposed increasing development density in the Discovery Bay area, Leung said it was normal to consider higher density as a strategy for improving the housing supply.

He promised more houses on market to curb the rising property prices and rents.

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