Chief Executive John Lee said the government will roll out a series of measures to enrich the housing ladder, allowing more public housing tenants to buy government-subsidised flats and enabling those who have bought government-subsidised flats to move into the private property market.

Lee said this is possible because the supply of public housing is increasing.

He said from 2026-27, about 189,000 units will be completed, 80 percent more than when he took office in 2022.

The average waiting time for a public housing unit is now about five years, one year shorter than before, and is expected to drop further to 4.5 years.

Under the new plan unveiled in the Policy Address, more subsidised flats under the Home Ownership Scheme will be reserved for green form applicants – current public housing tenants and those eligible to apply for public housing.

The quota split between green form and white form applicants will be adjusted from 40:60 to 50:50.

For white form applicants – non-public housing residents who are eligible to buy subsidised flats – 1,000 more quota places will be offered under the White Form Secondary Market Scheme, which allows the resale of government-subsidised flats without paying the premium.

Half of these will be reserved for young families and single applicants under 40.

The restriction period for the resale of government-subsidised flats – currently 15 years before they can be sold on the open market after paying the premium – will be shortened to 10 years.

Lee said it could encourage upward mobility.

The CE added that more larger flats will be built under subsidised housing projects to meet demand.

In addition, elderly residents aged 60 or above who have owned a subsidised flat for more than 10 years will be allowed to sell it and purchase a smaller or more remote one without paying the premium. This would help them get extra cash for living expenses while releasing larger or urban flats for families in need, Lee said.

On the private property market, Lee said about 126,000 flats will be supplied over the next decade.

He added that the government has sufficient land to meet housing demand, and will release it to the market in an orderly and pragmatic manner.

“With the housing ladder enriched, we can support residents across all walks of life to live and work happily,” he said.