RESIDENTIAL PROPERTY | Staff Reporter, Hong Kong

4,431 subsidised flats up for sale in 2018

The price range for the homes range from $1.59m to $6.3m.

There will be a total of 4,431 flats for sale as part of the government’s public housing programme as the Housing Authority’s Subisidised Housing Committee approved this year’s sales arrangement.

According to a press release, 2,522 flats will be located in Hoi Lok Court in Cheung Sha Wan, 683 flats in Kai Long Court in Kai Tak, and 1,226 flats in Yu Tai Court in Tung Chung.

The price range for the subsidised homes range from $1.59m to $6.3m following a 30% discount from the assessed market values. 

"As a result, the average selling prices (at 70 per cent of assessed market values) of the HOS flats are generally lower than those of private housing flats that are otherwise comparable, especially when compared with the selling prices of first-hand flats of private developments in the vicinity," a government spokesperson noted.

Income limit for families applying for HOS flats is set at $57,000 monthly whilst asset limit is at $1.96m. For one-person applicants, income and asset limits are set at half the price for family applicants at $28,500 monthly and $980,000 respectively. 

Balloting will be held in June and qualified applicants will be invited to select their flats by August. 

Photo from WiNG - Own work, CC BY 3.0

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