New ‘lease for life’ homes scheme launches for Hong Kong’s middle-income elderly with minimum HK$1.2 million needed for ‘Blissful Place’
- Hong Kong Housing Society has launched its third residence project for the elderly, two decades after the completion of the first two
- Tenants of the 312 flats in Hung Hom’s ‘Blissful Place’ must pay a lump sum ranging from HK$1.2 million to HK$2.65 million for lifelong residency
More than 300 flats will be offered to Hong Kong’s middle-income elderly under a “lease for life” model with tenants paying a lump sum of at least HK$1.2 million (US$152,971).
The Hong Kong Housing Society, a non-profit builder, on Tuesday launched its third residence project for the elderly, two decades after the completion of the first two.
The 312 flats in the 29-storey “Blissful Place” in Hung Hom are for lease only, with tenants paying a lump sum contribution ranging from HK$1.2 million to HK$2.65 million for lifelong residency. There is no rent but a monthly service charge must be paid.
“Depending on the flat size and tenancy period, the service charge of a studio flat is around HK$2,000 and that of a one-bedroom flat HK$3,000,” said Carmen Ng Ka-man, the society’s general manager.
More than half of the homes in the project, located on Lee Kung Street, are one-bedroom flats of between 375 and 403 sq ft. The rest are studio flats from 235 to 256 sq ft. A maximum of two people are allowed to live in one flat.
