Explainer | Hong Kong sales plan for 2024 subsidised flats revealed, but is deal sweet enough to tempt?
7,132 subsidised flats up for grabs, with a 30 per cent discount, but both figures down on last year’s release
The Hong Kong Housing Authority, the city’s largest public home provider, on Tuesday approved the Home Ownership Scheme sales arrangement for this year with about 7,132 subsidised homes on offer at a 30 per cent discount on market values.
Applicants, including families with newborns or elderly members, will be given priority for the flats which are expected to be completed between this year and 2027.
Here the Post looks at the pricing mechanism and the attractions of the subsidised flats up for sale.
1. How attractive are the homes?
There will be 7,132 new subsidised flats offered under the Home Ownership Scheme this year, with a 30 per cent discount on market prices.
They will cost between HK$1.43 million (US$183,400) and HK$4.67 million.
The size of the flats – to be built on five sites including Kowloon’s Kwun Tong, Kai Tak and Yau Tong, as well as Tuen Mun in the New Territories and Tung Chung on Lantau Island – will range from 186 to 510 sq ft.
The number of subsidised homes, as well as the discount, were down this year compared to 2023, when a total of 9,154 subsidised flats across six sites in Kai Tak, Kwun Tong, Tuen Mun and Yuen Long were put on the market with a 38 per cent discount.
