Hong Kong aims to provide 420,000 homes with sufficient land supply over the next decade, maintaining a public-to-private housing ratio of 70:30, according to the latest government projections.

This was disclosed as the government released its annual progress report on the long-term housing strategy on Tuesday, revealing it had secured sufficient land to supply 419,100 flats.

The total housing supply target is set at 420,000 flats by 2036, including 294,000 for public housing and 126,000 for private housing, maintaining the 70:30 ratio first established by the authorities in 2018.

“Balancing the government’s commitment to substantially increase the public housing supply to meet social demand and the demand for private housing, the government will maintain the public and private split of the new housing supply of 70:30 for the next 10-year period,” a government spokesman said.

The projection is slightly lower than last year’s target of 440,000 flats, which aimed to satisfy a projected demand of 430,300 flats.

Authorities added that they would focus on encouraging residents to move up the housing ladder and enhancing the cost-effectiveness of public housing construction.