“We need to keep a continuous and stable supply of private housing to ensure the market develops steadily,” he said.
Ma said the government had already identified 26 new sites for housing development, which could provide about 60,000 flats, with 80 per cent planned for the public sector.
He added that the government had changed the use of four adjacent private housing sites in Kai Tak to public housing, which could provide about 6,000 flats.
Lawrence Poon Wing-cheung, a housing policy expert, agreed it was necessary for the government to maintain land supply for the private sector even if it exceeded the yearly target of 18,000 units.
“The property market is very sensitive to any government policy changes. If the government says it will give excess land supply from the private sector to build public housing, it’s most certain that property prices would be pushed up as a result,” Poon said.
