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Monday, May 27, 2024

Steep discounts see cheap $38k deposit for studio

Steep discounts see cheap $38k deposit for studio

Public housing residents need only pay a HK$37,695 deposit for a 184-square-foot studio flat worth HK$753,000 in Ma On Shan's Kam Pak Court.
That figure emerged as the Housing Authority revealed yesterday that 4,693 units in three estates would be sold at a 59 percent discount next week.

The most expensive flat is a 489-square-foot, two-room unit below the top floor of Yau Tong's Ko Wang Court. Costing HK$5,542 psf, it will go for HK$2.71 million with a minimum 5 percent down payment of HK$135,000.

Among the units available in the two estates, including Ching Tao Court in Fan Ling, 279 flats with floor areas smaller than 200 square feet cost less than HK$1 million.

The priciest flat, flat 20 on the 43rd floor of Ko Wang Court's block A has a 41-square-foot "acoustic balcony" - one of the 341 flats in the estate to have such a design.

Since the flat is facing Cha Kwo Ling Road - one of the main roads in the district - the balcony ceiling is lined with absorptive materials to help reduce traffic noise.

But another 447-square-foot two-room unit, flat 16 on the same floor of Ko Wang Court's block A, has the highest psf price of HK$5,967.

The room includes an acoustic window that comprises two layers of windows so that the inner layer can act as a buffer from outside noise.

The cheapest unit released yesterday is flat 10 on the first floor of Kam Pak Court's block C, with a sellable area of 184 square feet, at about HK$4,097 per square foot.

The flat selection process will start Tuesday.

The Housing Authority saidabout 30 percent of the quota for this round of public housing - 1,400 units - will be allocated to eligible people under the "priority scheme for families with elderly members."

Another 10 percent will be allocated to individual applicants, totaling 500 units.

This year's Green Form Subsidized Home Ownership Scheme has seen some 62,000 applications.

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