Gov’t OKs new measures to facilitate young homebuyers

The three measures will enhance young buyers' chances of purchasing properties.

The Subsidised Housing Committee (SHC) approved three measures to enhance arrangements for subsidised sale flats (SSF).

The first measure will increase the quota for the White Form Secondary Market Scheme by 1,500, bringing the total to 6,000. The additional 1,500 will be specifically allocated to the new youth scheme for applicants under the age of 40.

The second measure will allocate an extra ballot number for young family applicants and young one-person applicants aged below 40 with White Form status to raise their chances of purchasing a flat in the next Home Ownership Scheme (HOS) exercise.

The income and asset limits for family applicants are set at $60,000 per month and $1.23m, whilst the income and asset limits for one-person applicants are set at $30,000 per month and $615,000.

Lastly, the third measure will add an extra ballot number for applicants who have made repeated attempts in the upcoming HOS and Green Form Subsidised Home Ownership Scheme (GHS).

The Housing Authority (HA) said the eligibility criteria for HOS, including the income and asset limits as well as restrictions on domestic property ownership in Hong Kong, will continue to be applicable to the WSM.