He said encouraging progress has been made but that the battle is far from over.
In an interview reviewing the work of his government in the past four years, Lee noted the average waiting time for public housing units has dropped to an eight-year low, to 4.7 years.
He attributed the decline to a combination of policy streamlining, new initiatives and a substantial increase in supply.
“I’m, of course, encouraged by the result, because that is exactly what I want to do when I assumed office – to alleviate the pressing livelihood issues,” Lee said, adding that housing was the most critical challenge facing the city at the start of his tenure.
The CE reaffirmed his administration’s goal of cutting the average wait for public housing flats to 4.5 years by next year.
He also pointed out that it takes considerable time to complete traditional public housing projects.
Lee said while his team has amended six ordinances to shorten land-preparation work from 13 years to seven, building a full housing estate still requires another five to six years.
To bridge that gap, he highlighted the Light Public Housing scheme, which aims to deliver 30,000 units by 2027-28 for residents living in cramped or inadequate conditions.
The chief executive also said the government expanded its five-year public housing supply target by 80 percent compared with four years ago.
Looking ahead, Lee outlined several strategic priorities. These include expanding subsidised home ownership schemes to help residents move from renting to owning and aggressively tackling the misuse of public housing.
He pointed to the Northern Metropolis as a cornerstone of the city’s long-term housing strategy.
Lee highlighted the Kwu Tung North project as a model for future development, noting it’s designed to be a community featuring industries, technology and a university town, with the first phase generating 15,000 units.
“That will be a big help,” he said.
“It will be an area newly developed with quite comprehensive provision of facilities, so it’s not just a town providing accommodation, it’ll be a town providing necessities, facilities, taking care of the occupants’ social and occupational needs.”
Lee described the Northern Metropolis as a “breakthrough” that will provide better amenities and economic opportunities for its future residents.