Leader pledges to tackle soaring property prices
Wednesday 16 January 2013
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EmailHong Kong leader Leung Chunying pledged today to tackle soaring property prices that have left thousands of residents unable to afford a decent place to live.
Mr Leung said he would make it a "top priority" to "tackle the housing problem" in Hong Kong, where prices are among the world's highest.
Some residents are forced to rent units subdivided from already small apartments or even a metal cage in a room.
"Cramped living space in cage homes, cubicle apartments and subdivided flats has become the reluctant choice for tens of thousands of Hong Kong people," he said.
"I believe that home ownership by the middle class is crucial to social stability."
He unveiled plans to provide 100,000 public housing apartments over five years, starting in 2018.
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