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Monday, Apr 22, 2024

New round of subsidised public housing units in Yau Tong attracts flocks of homebuyers

New round of subsidised public housing units in Yau Tong attracts flocks of homebuyers

Some 4,700 low-cost public housing flats in Yau Tong, Fanling and Ma On Shan under the government's subsidy scheme opened on Tuesday morning to homebuyers who waited in long queues for flat selection.
The Housing Authority's sale centre in Kwun Tong saw hundreds of homebuyers rush in at 9 am today for a total of 4,693 units, with the size ranging from 184 to 489 square feet, under the new round of the Green Form Subsidised Home Ownership Scheme.

Three estates - Ko Wang Court in Yau Tong, Ching Tao Court in Fanling, and Kam Pak Court in Ma On Shan - were priced from HK$753,000 to HK$2.71 million, marking 41 percent of the market value.

Ko Wang Court became the favourite of most homebuyers.

"We want to pick a relatively large place in Ko Wang Court because there are four people in my family," said a female homebuyer Hung, who came with her mother-in-law.

"[Ko Wang Court] has a better location than the remaining two estates with public infrastructure like shopping malls and parks," said Wong and his wife, who currently live in Siu Sai Wan.

Lee, who successfully chose her preferred flat in Block B of Ko Wang Court, said happily that she has been yearning for a bigger apartment for years despite the pressure of a monthly mortgage, citing she lived in a public housing unit in Cheung Sha Wan.

"I have my son and daughter-in-law to shoulder the loan responsibility," she said.

The cheapest unit for the scheme sold for HK$753,000 with a saleable area of 184 square feet; and the most expensive unit had a 489-square-foot size with a price of about HK$2.71 million.

A total of 270 units of the three estates were priced at less than HK$1 million; however, their saleable areas were all less than 200 square feet.

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