Letters | If Hong Kong’s housing problems are not to be tackled now, then when?

The 2019-2020 budget barely deals with the key problem affecting Hongkongers of any age – overpriced private housing.

Despite the desperate need for both public and affordable private housing, financial secretary Paul Chan Mo-po still decided not to introduce more policies to tackle the city’s housing problems (“Not the right time to help those priced off Hong Kong’s property ladder”, March 3).

Knowing that the government’s surplus is estimated to drop from HK$148.9 billion in the 2017-18 financial year to HK$16.8 billion in 2019-20, it is hard not to worry about the government’s future ability to implement money-based measures. The Lantau Tomorrow Vision which the government suggested would help solve the housing problem is expected to cost HK$1.2 trillion and will only be completed after 2030. With the budget surplus decreasing sharply every year and such a large project planned, how much money and effort could the government spare in 10 years’ time to help cool down the overheated housing market?

The government must take immediate action either to tackle the housing problem or get to the root of it. The consistently low birth rate since the late 20th century could hardly have contributed to the increase in population and demand for housing. Given that the government is promoting the Greater Bay Area, it should also consider terminating the one-way permit scheme and arranging for families to reunite in other cities in the region. After all, given the substandard and overcrowded living environment here, Hong Kong is not a suitable place for family reunions any more.