Sales of government-subsidised housing in Shanghai and Beijing have been disappointing because those who qualify for such flats cannot afford the high purchase prices, agents and property analysts...
It will take up to four years to finish the first lot of subsidised housing for young people under a new scheme - but that will amount to fewer than 300 flats.
Eligible buyers rushed to join a ballot for new subsidised flats in Tsing Yi yesterday even though the mortgage payments could eat up at least half their monthly income.
Applications began flooding in on Friday morning from Hongkongers hoping to buy a subsidised flat under the government’s new My Home Purchase Plan.
Subsidised flats open for applications
Flats at the first estate being sold under Hong Kong's "My Home Purchase Plan" are seeing an overwhelming response from potential buyers, some of whom say they may purchase a unit for their adult...
The government's "my home purchase plan" will be the first residential property development in the city to provide flat details in terms of saleable area only, and not gross floor area.
Sun Hung Kai Properties' Residence 88, Henderson Land's High Point, and Nan Fung's Tung Chung project may be competing with government-subsidised flats for buyers in coming months.
Big rises announced by the government last week in the income and asset caps for applicants seeking to buy subsidised housing will create a new market for insured home loans, say analysts.
As many as 270,000 home buyers seeking bargains will be able to vie for up to 5,000 used government-subsidised units from next January under a revised home ownership scheme.