The supply of land and flats in Hong Kong remains sufficient, Secretary for Housing, Planning & Lands Michael Suen says, adding the existing stable, transparent housing policy will continue.

He stressed there will not be any drastic changes to the existing policy unless the situation warrants, and minor adjustments may be made to tie in with the changing market conditions.

Speaking on a radio talkshow today, Mr Suen said both the property market and land sale mechanism are market-led, and the Government's role is to maintain a stable and transparent policy.

He noted a total of 35 sites with different sizes, locations and uses have been included in the 2005-06 Application List, and developers may make decisions according to the market situation. 

About 40,000 flats are under construction and 14,000 are on offer. KCRC and MTRC have agreed to sell their sites, which may provide 60,000 flats, in an orderly manner.

Home Ownership Scheme flats sale to be relaunched

The sale of Home Ownership Scheme flats will be relaunched in 2007 as scheduled, Mr Suen added.

On the 16,000 vacated HOS flats, Mr Suen said some will be converted to public housing or government staff quarters, adding suggestions to turn some into student hostels are under study.

He pointed out the outcome of judicial reviews on public housing rental and the Link Real Estate Investment Trust will have a financial impact on the Housing Authority, and he hoped the Link REIT case would close after this summer.