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Concrete Analysis | What Hong Kong must do to solve the city’s perennial housing and land shortage problems
- Some residential units in the Northern Metropolis should be designated as ‘talent apartments’ to attract professionals to spur its development
- More incentives under the land sharing scheme could alleviate housing shortage using public-private partnership model
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Chief Executive Carrie Lam Cheng Yuet-ngor in her final policy address on October 6 highlighted measures to tackle Hong Kong’s housing and land shortages.
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She introduced and outlined the Northern Metropolis development strategy, with the aim of creating more land resources for residential, IT and other uses over the next 20 years. However, infrastructure provisions in remote areas may constrain development in the proposed hub. On top of that, the current plot ratio is set as low as 0.2, posing more difficulties for keeping up with the city’s development.
Considering the huge development potential of the Northern Metropolis, the government should conduct a comprehensive planning review, and specify its land use and related transport facilities in the surrounding areas. When the planning blueprint is properly drawn, the government can further improve key services like transport, water supply and sewage facilities. The plot ratio can then be raised and, in turn, housing supply can be increased.
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According to the Northern Metropolis development strategy, some 300 square kilometres of the combined area of Yuen Long and North districts are expected to provide about 900,000 residential units, eventually accommodating around 2.5 million people.
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