What is the "85,000" in Hong Kong?

The "85,000" in Hong Kong refers to the 85,000 housing construction plan put forward by Tung Chee-hwa, the first chief executive of Hong Kong, in the policy address of 1997.

During the period of 1997, Tung Chee-hwa, the first chief executive of Hong Kong, proposed that Hong Kong should supply no less than 85,000 residential units every year, hoping that 70% of families in Hong Kong could buy their own houses within 10, and the average waiting time for public rental housing would be shortened from 6.5 years to 3 years.

This plan is called "85,000", and its original intention is good, but because of the Asian financial crisis, the government's enthusiasm has not been realized.

In 2002, the Hong Kong government announced that it would stop building new HOS flats indefinitely. The "85,000" plan was suspended.

The Asian financial crisis led to a sharp drop in property prices in Hong Kong, and the general private property market depreciated by 70% in more than five years. Many middle-class people have become negative assets, and Hong Kong's property market economy is in a slump. It was not until the outbreak of SARS in 2003 that it gradually recovered.

Extended data

Hong Kong is different in size from the mainland. The so-called thousands of feet mansion is almost a 9 1㎡ apartment building.

The Census and Statistics Department of Hong Kong released the floor area statistics of residential buildings for the first time at 20 16 1 foot (about 14.96 square meters). About 204,000 households (8%) have living areas less than 2 15 feet (about 19.97 feet).

Carrie Lam Cheng Yuet-ngor, the Chief Executive of Hong Kong, has publicly stated many times recently that reclamation is the fundamental way to solve the shortage of land supply in Hong Kong.

18 July 12, when she attended the question and answer session in the Legislative Council, she said frankly: "To solve the land problem, the society should have extensive knowledge. In the long run, reclamation outside Victoria Harbour is inevitable.

References:

? People's Daily Online-Hong Kong Government Implements "Peace of Mind" Home Ownership Scheme

References:

? China News Network-From "85,000" to/kloc-0,000 public housing, the Hong Kong government is looking for the real thing.