Here's why the housing plan must not be shelved

All buyers with White Form status rejoice.

In a statement, Chief Executive CY Leung says it will be a responsible move by the Government to proceed with the plan to allow buyers with White Form status to purchase Home Ownership Scheme (HOS) flats with premium not yet paid under the Secondary Market Scheme.

Speaking to the media today, Mr Leung said the Government should proceed with the plan, adding the Housing Authority’s Subsidised Housing Committee has approved the scheme, which will ensure steady development of the property market.

He said he does not want to shelve the scheme. If it is deferred, and if the Northeast New Territories New Development Areas programme is delayed, more people will be queuing for public housing, property prices and rents will increase, and more cage homes and subdivided flats will appear, he warned, adding the community does not want such an outcome.

He said the scheme will not trigger speculative activities in the HOS secondary market and push up prices, because prices and rents have been increasing recently due to the imbalance in demand and supply in the housing market.