Hong Kong to add artificial islands to solve the problem of housing shortage

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In Hong Kong, they plan to solve the problem of housing shortages by adding artificial islands, on the territory of which they will build on a large scale. According to Demographia, the property market in Hong Kong over the past 8 years is the least accessible in the world. China Knowledge writes that the head of the Hong Kong government, Carrie Lam, announced its intention to create artificial islands, covering an area of 688 hectares, east of the largest island of Lantau. The planned period of creation of the islands is from 2025 to 2032. From 260 thousand to 400 thousand houses are planned to be built on their territory, which will provide housing for 15% of Hong Kong’s population. This is approximately 1 million 100 thousand people. It is expected to give 70% of new homes for the purposes of social housing.

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