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<Budget>Paul Chan: HK Continues to Suspend Sale of General Commercial Sites Next Yr; Potential Supply of 104K New Private Homes Next 3-4 Yrs
Financial Secretary Paul Chan stated that in view of the vacancy rate in the non-residential property market, the supply and demand, the Government will not put up general commerci...
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<Budget>Paul Chan: HK Continues to Suspend Sale of General Commercial Sites Next Yr; Potential Supply of 104K New Private Homes Next 3-4 Yrs
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Financial Secretary Paul Chan stated that in view of the vacancy rate in the non-residential property market, the supply and demand, the Government will not put up general commercial sites for sale in the coming year.

He forecast that the Government will make available land for the production of about 98,000 private housing units in the next five years. The Land Sale Programme for the coming year will include nine residential sites. Together with railway property development projects, projects undertaken by the Urban Renewal Authority (URA), as well as private development and redevelopment initiatives, the potential land supply for the whole year is expected to have a capacity for providing around some 22,000 units.

The potential supply of new private residential units over the next three to four years is approximately 104,000, said Chan.

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