Falling flat? Hong Kong’s first non-subsidised elderly housing project sparks low interest
Only 393 applicants to date for Tanner Hill’s 588 flats, priced at between HK$1.8 million to HK$20 million
Only two thirds of 588 flats in Hong Kong’s first non-subsidised elderly housing project have been applied for, a lacklustre response which the Hong Kong Housing Society attributed to a lack of precedent.
A computer ballot system generated priority for 393 successful applicants over the age of 60 to choose units for lifelong rental at Tanner Hill, a three-block estate in North Point that opened in December.
The results, to be made available later today on the estate’s website, were to list the priority for applicants to choose from 588 unfurnished flats sized between 342 to 821 sq ft starting from February 15. They were to come in studio, one-bedroom and two-bedroom sizes, plus combined units.
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Prices ranged from HK$1.8 million to HK$20 million depending on size, location and the age of applicants, with older occupants paying less.
The society said the tepid response to the application process fell within its expectations.
“We usually target the low-to-middle-income group of elderly, so this kind of project is still new to them,” said Daniel Lau King-shing, the society’s director of development and marketing. “People need more time to understand what this project is about.”
“We have confidence that there will be more elderly who will apply in the future.”
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The remaining 195 flats were to be available to the public for leasing on a first-come first-serve basis, but details would not be announced until after the first batch of rental contracts were signed in February.
Lau emphasised that monthly management fees for individuals would not be more costly even if all the flats were not fully occupied.
Successful applicants were to be invited to view the flats between January 16 to 18, and would be expected to make a decision within 10 working days after identifying a flat in February.
