Hong Kong expands housing supply through land sales and subsidized flats

Hong Kong authorities have announced new measures to bolster the housing supply. The Development Bureau plans to release residential land in Shek Mun during the third quarter of this year, which is expected to provide approximately 960 units. Total private housing land supply for the third quarter is projected to support around 3,845 units, bringing the total for the first three quarters of the year to approximately 15,700 units, exceeding the government's annual target of 12,600.

Simultaneously, the Housing Bureau is launching the ‘Homeowner Scheme 2025’, offering nearly 7,000 new subsidized sale flats across five locations: Kai Tak, Kam Tin, Tseung Kwan O, Ping Shan, and Tung Chung. Prices for these units range from approximately HK$1.5 million to HK$4.8 million. The bureau also noted that over 72,000 subsidized units are expected to be completed within the next five years. New measures for the scheme include adjusting the quota for Green Form and White Form applicants to a 50:50 ratio and providing additional lottery numbers for eligible youth and repeat unsuccessful applicants.