Leung pledges more land for cheaper HK housing

Hong Kong

HONG KONG Chief Executive Leung Chun-Ying pledged to provide more land to build apartments for low-income people in a bid to lower housing prices in the world's least-affordable city.

Less than 25 per cent of Hong Kong's land has been developed, according to government figures. That is the reason housing is expensive and land supply is short, Mr Leung said on Friday at a banquet hosted by the Bauhinia Foundation Research Centre think tank, according to a statement on the government's website. "Every piece of our land could be used for building houses, as long as we, the Hong Kong people, want to do it," Mr Leung said. "We should have a clear sense on what matters most and what matters little, and it looks to me making sure Hong Kong people have a place to live is the absolute No 1 priority." The government faces opposition to plans to rezone rural green-belt sites for housing, or build new apartments in already overcrowded areas.