The Hong Kong Housing Authority has approved its institutional plan and financial budget for the fiscal year 2026/27.

On January 19, the Hong Kong Housing Authority approved the institutional plan for the 2026/27 fiscal year and the proposed budget for the 2026/27 fiscal year. In the 2026/27 fiscal year, the Hong Kong Housing Authority is committed to providing quality housing, promoting sustainable living, rational use of public resources to encourage upward mobility, and enhancing the attractiveness of commercial buildings. Based on these four thematic outlines, the Hong Kong Housing Authority has set 25 key tasks and 17 key performance indicators for the institutional plan for the 2026/27 fiscal year. A spokesperson for the Hong Kong Housing Authority stated that the institutional plan is a platform for the Housing Authority to determine its direction, focus its efforts, and address the challenges of public housing. The Chief Executive of Hong Kong reiterated in the 2025 Policy Address that the government would increase the supply of public housing, redevelop public rental housing estates, enrich the homeownership ladder, and reduce construction costs, and announced a series of new housing measures, some of which will be implemented by the Housing Authority in the next fiscal year. The spokesperson continued to say that in the 2026/27 fiscal year, the Hong Kong Housing Authority will continue to vigorously build public rental units and subsidized sale units to increase the supply of public housing units and enrich the homeownership ladder. Through various measures, the Housing Authority will expedite the turnover of public rental units and subsidized sale units. In terms of developing and constructing public housing, the Housing Authority will continue to optimize the design of public spaces, facilities, and housing estate environments to improve living conditions for residents and enhance their well-being. In estate management, the Housing Authority will strengthen efforts to combat abuse of public housing while maintaining the rational use of public housing resources. On the same day, the Hong Kong Housing Authority also approved the financial budget for the 2026/27 fiscal year, estimating that the Housing Authority will have sufficient financial resources to cover operating and capital expenditures (including construction expenditures) until the 2029/30 fiscal year. Construction expenditure remains the largest item of expenditure for the Housing Authority, and with the increase in the number of new public housing projects, it is expected to continue to rise after the 2026/27 fiscal year. The spokesperson stated that to ensure the long-term financial sustainability of the Hong Kong Housing Authority, it will continue to explore various measures to increase revenue and reduce costs. An "Project Facilitation Office" has been established to coordinate various departments to accelerate the completion of public housing construction projects and enhance the cost-effectiveness of public housing projects. In addition, the Hong Kong Housing Authority will reduce operating expenses by 2% each year in the 2026/27 and 2027/28 fiscal years. To improve the Authority's income and provide more homeownership opportunities to citizens, the supply of public housing will gradually move towards a six-to-four ratio of public rental/ Green Form Subsidized Home Ownership Scheme to other subsidized sale units. According to the Housing Ordinance, the institutional plan and proposed budget for the 2026/27 fiscal year will be submitted to the Chief Executive of Hong Kong for approval.