Prices of 800 Tin Shui Wai flats to start from HK$1.2m
The subsidised homes, mostly in Tin Shui Wai, will be offered at a 30pc discount, with one flat in Aberdeen priced at more than HK$3 million
Many Hongkongers may be surprised to read about homes on sale for HK$1.2 million, in a city where HK$2 million has long seemed like the bottom price.
Yet that will be about the starting price when more than 800 subsidised flats are offered next month, mostly in Tin Shui Wai, according to a source close to the offer. The prices will range up to HK$3 million for subsidised flats elsewhere in the city.
The prices for these Home Ownership Scheme (HOS) flats will be at a 30 per cent discount to market values set in the September-December period last year, the source said.
Most of the 832 HOS flats to be offered are in Tin Chung Court, Tin Shui Wai. About 640 of them, in Block K and L, are being sold for the first time, and about 180 are second-hand. The saleable areas are between 506 and 646 sq ft. The Tin Shui Wai prices will range up to HK$2 million.
Tin Chung Court was one of the estates involved in a short-piling scandal in 1999 arising from uneven ground settlement. But sources say the groundwork of the two blocks has been fortified and they are safe.
The most expensive flat will be a 540 sq ft home in Broadview Court, Aberdeen, with a price tag of more than HK$3 million.