Hong Kong government’s continuous effort to develop land and boost supply could help structurally address deep-rooted economic and social problems caused by years of land shortages, said the former Chief Executive Leung Chun-ying.
Speaking on a radio program, Leung pointed out that rising property prices and rents—caused by insufficient land and housing—had long impacted various sectors of society. The ultimate solution, he said, is to increase land supply. It is not only a social consensus, but also the responsibility of successive SAR administrations, he added.
Leung noted that the groundwork laid by the government is starting to deliver real results, with the city now seeing notable increases in the supply of residential units, office and commercial buildings, and innovation and technology sites.
On a proposed “property purchase connect” that will help facilitate mainland talents’ home purchase in Hong Kong, Leung said the SAR government’s primary responsibility remains serving Hong Kong residents, emphasizing that the territory's improved housing supply was hard-won through significant social effort.
STAFF REPORTER
