The Hong Kong Housing Authority recently approved the Home Ownership Scheme sales arrangement for this year, offering approximately 7,132 subsidised homes at a 30% discount on market values. Families with newborns or elderly members will have priority for these flats, expected to be completed by 2027.
The pricing mechanism and attractiveness of these subsidised flats are under the spotlight. With prices ranging from HK$1.43 million to HK$4.67 million, the flats will vary in size from 186 to 510 sq ft across different locations in Kowloon, New Territories, and Lantau Island.
The discount rate is determined based on a family’s budget and affordability, ensuring that at least 75% of the flats will be affordable to eligible buyers. Compared to other properties in the market, these subsidised flats offer a more affordable option, making them an attractive choice for potential homeowners.
Lawmakers have expressed differing opinions on the popularity of these flats in the current market, with some believing they will meet public expectations while others foresee potential disappointments. Despite varying views, the release of these subsidised homes is set to provide much-needed housing options for residents in Hong Kong.
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