Bargain hunters have something to look forward to amid the world record HK$71,280 per sq ft that was paid for a Mid-Levels flat. The latest batch of Home Ownership Scheme (HOS) flats will be released this month. The Housing Authority will release a total of 1,392 flats in eight estates, with the cheapest being a 280 sq ft flat in Po Ming Court, Tseung Kwan O priced at HK$460,000. The main focus is expected to be on the sea-view flats on upper floors at Yau Chui Court, Yau Tong, which sell for HK$2.29 million each, or about HK$2,670 per sq ft, roughly 70 per cent of market price. Prices of HOS flats were set based on data from the market in the third quarter, the authority said. Centaline research associate director Wong Leung-sing said: 'That is a good bargain. Prices are low. Coupled with a more stable economy, the response to the sale should be good. This is also a timely refresher. The recent news about a flat at HK$71,000 a square foot can dampen buyers' desire to buy,' said Wong, referring to Wednesday's sale of a HK$439 million duplex in a Henderson Land Development project at 39 Conduit Road in Mid-Levels. The latest HOS sale, which had been scheduled for spring this year, had been delayed after a poor response in December when 40 per cent of the 3,221 flats on offer did not sell. The recession was blamed. The authority's subsidised housing committee will meet on Tuesday to discuss and endorse the prices and sale details. If all 1,392 flats are sold, the authority can expect to net an income of HK$1.8 billion. Launched in 1978, the HOS allowed eligible families to buy their homes from the authority at a substantial discount, usually 60 per cent to 70 per cent of the market price. It was scrapped in 2002 after pressure from private developers.