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Saturday, Feb 24, 2024

Over 9,000 flats available in latest cycle of subsidized housing scheme: sources

Over 9,000 flats available in latest cycle of subsidized housing scheme: sources

The latest cycle of the Home Ownership Scheme is expected to provide a total of 9,154 flats in six housing estates, including three located in Kwun Tong and one in Kai Tak, according to sources.
They are On Ying Court, On Wah Court, On Lai Court on Anderson Road, and Kai Yuet Court in Kai Tak, providing 5,556 flats together in the town center.

The remaining two are Siu Tsui Court in Tuen Mun and Long Tin Court in Yuen Long.

It is understood that these flats will be sold at 38 percent below market price, ranging between HK$1.49 million and HK$4.94 million.

Sources also said Long Tin Court would provide the most flats among the six projects, with 3,080 units, with the priciest one available at around HK$3.18 million.

Kai Yuet Court ranks second highest in supplying 2,046 flats, priced between HK$2.23 million and HK$4.94 million; it is followed by On Lai Court, with 1,380 flats available between HK$1.69 million and HK$3.76 million.

Sources added that the Housing Authority plans to tighten the homeownership conditions for those applying through Green Form status – tenants or residents of public housing under the Housing Authority or the Housing Society, barring those owning a home from applying to purchase subsidized housing.

It is understood that calls for the mechanism to be reviewed come after the ex-father-in-law of slain model and socialite Abby Choi Tin-fung, Kwong Kau – a public housing tenant – was caught owning a luxury Kadoorie Hill property and applying for the purchase of subsidized housing at the same time.

Should the Housing Authority tighten the criteria, the ban on owning any property two years prior to the application and the limits on incomes and assets faced by applicants of White Form status – those living in private homes – will also apply to applicants of Green Form status.
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