Subsidised flats

Affordable-housing sales poor in tier-one mainland cities

Subsidised flats are too dear for low earners. Photo: Bloomberg

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 say.

Wednesday, 20 February, 2013, 4:40am

Subsidised flats for young people won't be ready for four years

The International Montessori School campus won’t be used.

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.

That is despite Chief Executive Leung Chun-ying's pledge to spend HK$1 billion on building 3,000 flats for young people who cannot afford private housing.

7 Feb 2013 - 5:05am 4 comments

Rush for subsidised flats in Tsing Yi, but repayments are a worry

A showflat of Greenview Villa in Cheung Sha Wan which is a subsidised Housing Society project in Tsing Yi. Photo: Jonathan Wong

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.

29 Dec 2012 - 4:17am

Applications flood in for first batch of subsidised flats

Chief Executive CY Leung inspects the Greenview Villa subsidised housing project in Tsing Yi. Photo: David Wong

Applications began flooding in on Friday morning from Hongkongers hoping to buy a subsidised flat under the government’s new My Home Purchase Plan.

Competition is expected to be heavy for the first offering under the plan – Greenview Villa in Tsing Yi, where 988 flats in a three-block estate are expected to be available in 2015.

28 Dec 2012 - 2:44pm

Talking points

Former British Prime Minister Baroness Margaret Thatcher.

Subsidised flats open for applications

28 Dec 2012 - 1:35am

Thousands flock to show flats for subsidised Greenview Villa

The queue was long at the Greenview Villa sales office in Cheung Sha Wan. Photo: K. Y. Cheng

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 children.

22 Dec 2012 - 3:51am

Subsidised flats first to be offered for sale using saleable area

A showflat of Greenview Villa in Cheung Sha Wan which is a subsidised Housing Society project in Tsing Yi. Photo: Jonathan Wong

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.

21 Dec 2012 - 3:47am

Subsidies forcing developers into price competition on new flats

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.

5 Dec 2012 - 4:15am

Mortgage insurance market set for boost from HOS

Festival City in Tai Wai may be attracting buyers, but with a decline in sales generally, the mortgage market is changing. Photo: Bloomberg

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.

5 Dec 2012 - 4:15am

Housing Authority to allow higher earners to apply for subsidised flats

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.

The Housing Authority's subsidised housing committee yesterday endorsed a proposal to allow families with monthly income up to HK$40,000 and assets worth up to HK$830,000 to be eligible to apply to buy the flats.

30 Nov 2012 - 3:20am