The 2024 annual progress report of the Long Term Housing Strategy released by the Hong Kong SAR government on the 28th shows that the total housing supply target for Hong Kong in the next decade is 440000 units, including 308000 units of public housing. It is understood that according to the established calculation method of the Long Term Housing Strategy, the total housing demand in Hong Kong for the next decade is 438000 units, and the SAR government has therefore set the supply target at 440000 units. At the same time, the Housing Bureau of the Hong Kong Special Administrative Region Government has reviewed the Long Term Housing Strategy and proposed optimization directions. A spokesperson for the Housing Bureau of the Hong Kong Special Administrative Region Government stated that in order to balance the significant increase in public housing supply by the government to meet social demand and the demand for private housing, the government will maintain a new supply ratio of 7:3 for public and private housing in the next decade. Based on this, among the total housing supply target of 440000 units, the target for public housing supply is 308000 units, and the target for private housing supply is 132000 units. The SAR government has found sufficient land to meet the supply target of public housing for the next decade. When planning the development of public housing, the government will maintain sufficient flexibility to ensure that future public housing construction can be adjusted in a timely manner according to actual changes in the situation. In terms of private housing supply, the SAR government will be prepared to provide the market with land through land sales and railway property development in the next five years, which can build about 80000 units of housing. In addition, the Urban Renewal Authority project and other private land development projects will meet the supply target of 132000 units of private housing. As for the short-term supply of private housing, according to the latest estimate at the end of September this year, the supply of first-hand private residential properties in the next three to four years is expected to be about 108000 units. The Hong Kong Housing Authority has spared no effort in cracking down on the abuse of public housing and will strengthen communication with mainland departments or institutions to obtain information about tenants' ownership of mainland properties, in order to take appropriate follow-up actions. At the same time, a "Reward Scheme for Utilizing Public Housing Resources" will be launched to provide rewards for real name whistleblowers who provide accurate intelligence to report the abuse of public housing. (New Society)