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Saturday, Feb 22, 2025
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New estate in green form sale scheme
A new Diamond Hill housing estate that will go on sale targeting public housing tenants will be priced from HK$1.18 million, with the cheapest flat involving a down payment of less than HK$60,000.
Some 2,112 flats at Kai Chuen Court will be rolled out in the Green Form Subsidized Home Ownership Scheme this year.
Sources said the flats will be sold at half the market price, ranging from HK$1.18 million to HK$3.85 million, or HK$7,390 per square foot on average.
As flats under the Green Form scheme are eligible for a 95 percent mortgage, buyers can opt to pay as little as HK$59,000 in down payment for an apartment in the new Diamond Hill estate.
It is also understood that the sales exercise will be open for applications from May. Ballots will be drawn in July or August and flat selection may happen as early as September.
"The Housing Authority will allocate a quota of 300 for one-person applicants and 800 for family applicants under the 'Priority Scheme for Families with Elderly Members,'" sources said.
This year's sales exercise will also resell 523 flats from last year's scheme, which includes 516 flats at Ching Fu Court in Tsing Yi and seven units from Dip Tsui Court in Chai Wan, according to sources.
The Housing Authority is also planning to roll out some 800 flats recovered from the Tenants Purchase Scheme, sources added.
"Successful applicants can choose from the Green Form flats or TPS flats, but the Housing Authority will not allocate quotas for flats under the TPS," sources added.
This would be the first time the Housing Authority has rolled out flats under the TPS, as sources said these flats would also be available for purchase during the sales exercise under the Home Ownership Scheme as well as its Green Form applicants.
It is understood that the flats recovered under the TPS are located in 39 public housing estates. They will be sold at 15 to 18 percent of the market price, ranging from around HK$140,000 to HK$1.26 million.
Sources said the flats will be sold at half the market price, ranging from HK$1.18 million to HK$3.85 million, or HK$7,390 per square foot on average.
As flats under the Green Form scheme are eligible for a 95 percent mortgage, buyers can opt to pay as little as HK$59,000 in down payment for an apartment in the new Diamond Hill estate.
It is also understood that the sales exercise will be open for applications from May. Ballots will be drawn in July or August and flat selection may happen as early as September.
"The Housing Authority will allocate a quota of 300 for one-person applicants and 800 for family applicants under the 'Priority Scheme for Families with Elderly Members,'" sources said.
This year's sales exercise will also resell 523 flats from last year's scheme, which includes 516 flats at Ching Fu Court in Tsing Yi and seven units from Dip Tsui Court in Chai Wan, according to sources.
The Housing Authority is also planning to roll out some 800 flats recovered from the Tenants Purchase Scheme, sources added.
"Successful applicants can choose from the Green Form flats or TPS flats, but the Housing Authority will not allocate quotas for flats under the TPS," sources added.
This would be the first time the Housing Authority has rolled out flats under the TPS, as sources said these flats would also be available for purchase during the sales exercise under the Home Ownership Scheme as well as its Green Form applicants.
It is understood that the flats recovered under the TPS are located in 39 public housing estates. They will be sold at 15 to 18 percent of the market price, ranging from around HK$140,000 to HK$1.26 million.
