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Following is a transcript of remarks by the Secretary for Transport and Housing, Professor Anthony Cheung Bing-leung, in a media stand-up session after holding the fourth meeting of the Long Term Housing Strategy Steering Committee this afternoon (February 21):
Secretary for Transport and Housing: This afternoon the Long Term Housing Strategy Steering Committee looked at a proposed demand forecast model for housing. Basically we are looking at the housing needs of society. We tried to adopt two concepts in this model: the stock concept and the flow concept. For stock, we mean the existing number of households. Of course, some of the households might be inadequately housed households and the inadequacy has to be addressed in any demand forecast. The flow concept refers to changes over a period of time, changes that might arise from household changes, spilt families, for example, new household formation as well as the need to house families or people arising from redevelopment, and other changes as a result of economic and social changes. So we tried to come up with a more dynamic forecast model than the previous one, which was adopted over a decade ago in the previous Long Term Housing Strategy report. Like any forecast model, we have to be aware that it is to be based on some assumptions, certain parameters. It has its own limitations, particularly time limitations. But we hope that our model would be sensitive to different social and economic scenarios. And one important thing is that we are focusing mainly on the need to house the local population. In other words, we do not think that just catering for external demand is a priority. Of course, we have to be pragmatic because external demand, investment demand, are factors. But the main purpose of our Long Term Housing Strategy is to look after the residential demand of the local population.
Reporter: (Time frame for seeing some results)
Secretary for Transport and Housing: The Steering Committee is committed to producing a consultation document on the Long Term Housing Strategy review by around the middle of the year, let's say July. So, before that of course we have to have the results of the model. In other words, we are going to have a more detailed analysis under this model within the coming few months. Incidentally, our survey on sub-divided flats will also be completed around the time of May. So, that will tie in very nicely with our forecast analysis.
(Please also refer to the Chinese portion of the transcript.)
Ends/Thursday, February 21, 2013
Issued at HKT 20:07
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