Fewer Hongkongers apply to buy government-subsidised flat as would-be homeowners consider private sector amid fall in property prices
- Monday was the last day to apply for one of about 9,000 flats on offer in 2023 under Home Ownership Scheme
- Housing Authority said it received about 163,000 applications for flats sold under the scheme, nearly 80,000 fewer than last year
About 163,000 Hongkongers have applied to buy a government-subsidised flat this year, down from 240,000 in 2022, with potential homeowners seen as switching from public housing because of falling property prices in the private sector.
The Housing Authority on Monday said that as of 5pm, it had received about 163,000 applications for flats sold under the Home Ownership Scheme, nearly 80,000 fewer than last year. One in about 17 applicants will be allocated a flat, down from 27 last year.
More than 100 interested buyers headed to the authority’s customer service building in Lok Fu on Monday – the last day of the application period – to try their luck at securing one of the 9,000 flats on sale under the scheme.
Many said they were looking to buy two-bedroom flats, with the Kai Tak area being the most popular choice because of its proximity to the commercial hub of Kwun Tong and the rest of Kowloon.
Thomas Chiu, who showed up at 9am, was among the hopefuls. He said he wanted to buy a two-bedroom flat in Kai Tak for his family.
