I was delighted by the government's announcement on Monday, December 24, that it planned to boost land supply [in the coming quarter] for the construction of 3,000 new apartments.
This is a welcome gift for the new year. This joint initiative of boosting land supply and building the additional flats can help to cool the overheating property market.
I appreciate the measures that Hong Kong administrations have taken over the past few years to curb rising housing prices.
I think this latest move, with 3,000 new flats, can help ease housing shortages in the short term.
What was also good news was that two of the six land plots will be for building apartments that can only be sold to Hong Kong citizens.
Given the scarcity of housing supply they must be given priority in this crowded city.