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Saturday, Feb 22, 2025
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Nearly 9,000 subsidized housing flats on sale from next year at a whopping discount of 49pc
The Housing Authority plans to put almost 9,000 subsidized housing flats on sale next year at a discount of 49 percent, with prices starting at HK$1.24 million.
A total of 8,926 flats from seven new Home Ownership Scheme projects will be put on sale from January coming, sources said.
The projects included about 3,300 flats at Yu Nga Court in Tung Chung; 1,800 flats in Kai Tak; 1,900 units on Anderson Road, Kwun Tong; 500 units in To Kwa Wan; 500 units on On Muk Street, Shek Mun; 600 units on Chiu Shun Road, Hang Hau, and a rare Hong Kong Island option with 200 flats on Java Road, North Point.
After the 49 percent off discount, the prices of these flats will range between HK$1.24 million and HK$5.31 million.
The cheapest flat will be a 186-square-feet one in Kai Tak, costing HK$1.24 million.
A flat on Java road in North Point will cost an average of HK$9,950 per square foot, while a flat in Tung Chung and Kai Tak is priced at HK$5,730 and HK$8,530 per square feet respectively.
It was understood that the electronic ballot will be staged in the second quarter of 2022 and flat selection in the fourth quarter. Homeowners in the Tung Chung estate can move in as soon as September 2022.
Sources also said that the Authority will tighten restrictions for the sale of HOS flats. New owners of HOS flats will not be able to sell the flats at a price higher than the original price paid in the first five years after they move in.
They can only sell the flats to White Form or Green Form applicants without a land premium five years after their purchase – two years more than before.
Owners can only sell the flats at a premium in the open market after they have lived there for 15 years – five years longer than the existing requirement.
The projects included about 3,300 flats at Yu Nga Court in Tung Chung; 1,800 flats in Kai Tak; 1,900 units on Anderson Road, Kwun Tong; 500 units in To Kwa Wan; 500 units on On Muk Street, Shek Mun; 600 units on Chiu Shun Road, Hang Hau, and a rare Hong Kong Island option with 200 flats on Java Road, North Point.
After the 49 percent off discount, the prices of these flats will range between HK$1.24 million and HK$5.31 million.
The cheapest flat will be a 186-square-feet one in Kai Tak, costing HK$1.24 million.
A flat on Java road in North Point will cost an average of HK$9,950 per square foot, while a flat in Tung Chung and Kai Tak is priced at HK$5,730 and HK$8,530 per square feet respectively.
It was understood that the electronic ballot will be staged in the second quarter of 2022 and flat selection in the fourth quarter. Homeowners in the Tung Chung estate can move in as soon as September 2022.
Sources also said that the Authority will tighten restrictions for the sale of HOS flats. New owners of HOS flats will not be able to sell the flats at a price higher than the original price paid in the first five years after they move in.
They can only sell the flats to White Form or Green Form applicants without a land premium five years after their purchase – two years more than before.
Owners can only sell the flats at a premium in the open market after they have lived there for 15 years – five years longer than the existing requirement.
