The Hong Kong Institute of Housing (HKIH) welcomes the HKSAR Government's announcement of supporting housing policies in the Budget 2012-13 by the Financial Secretary. The government proposes a pilot scheme by the Urban Renewal Authority (URA) to step up renewal efforts. The government also plans to finance the URA so that redevelopment projects of industrial buildings will not affect livelihood of the neighbouring residents.
     "The government has shown that it has placed importance on urban renewal projects, that are able to enhance building safety and management," said Mr Share Tai-ki, the President of the HKIH. "Expediting the progress of urban renewal is a comprehensive way to solve problems related to property management. Redevelopment of old residential blocks will see fewer buildings without owners' corporations."
     Regarding the new supply of public housing and flats under the new Home Ownership Scheme and My Home Purchase Plan, while the institute supports the government's approach, the HKIH recommends a balance of urban planning with sufficient ancillary facilities to ensure sound long-term development of the neighbourhood. The development of small- to medium-sized flats are indeed able to meet the current demand, the government, however, should find the right balance in the long-term supply. When current young and small families become better-off and have new members, 80- to 100-sq m flats are necessary to cope with their changing needs.
     Moreover, six projects under the new Home Ownership Scheme, launched in areas like Sha Tin, Tsuen Wan, Kwai Chung-Tsing Yi and Yuen Long, are indeed able of relieving demand for homes. Nevertheless, the districts are well developed; problems may arise in communities with more population. The government should give thorough consideration to the planning of ancillary services and facilities in those communities.