Housing Authority opens applications for letting, flat-for-flat schemes

Pilot Letting Scheme has a quota of 3,000 places.

The Housing Authority has opened applications for two schemes to help eligible owners and applicants make better use of existing housing resources.

The schemes are the Letting Scheme for Subsidised Sale Developments with Premium Unpaid (White Form) and the Flat for Flat Scheme for Elderly Owners.

The pilot Letting Scheme has a quota of 3,000 places. Owners of subsidised sale flats (SSF) held for at least 10 years, who have paid a letting permit fee, can let their flats with premium unpaid to applicants who meet the White Form eligibility criteria under the Home Ownership Scheme (HOS).

The scheme is jointly operated by the Housing Authority and the Housing Society.

Tenants must meet the prevailing White Form income and asset limits for the latest HOS exercise. Neither applicants nor family members listed on the application can own domestic property in Hong Kong from 24 months before applying until the Tenant Certificate (White Form) is issued.

The Flat for Flat Scheme for Elderly Owners allows elderly owners to sell their SSF with premium unpaid in the secondary market and buy another secondary market flat with a smaller saleable area or in a more remote location.

Owners must have held their SSF with premium unpaid for at least 10 years, and all participating family members must be aged 60 or above.

Participants cannot own another domestic property in Hong Kong for 24 months before applying and until signing the provisional agreement for the new flat.

Owners must also obtain a Trade Down Permit from the Housing Society before selling their existing flat.