Hong Kong housing

Some 4,400 subsidised flats to be up for grabs in Hong Kong this year

Going from HK$6,700 to HK$9,800 per square foot, housing authority to discuss sales arrangements on Wednesday

PUBLISHED : Saturday, 10 February, 2018, 9:32am
UPDATED : Saturday, 10 February, 2018, 11:38am

Some 4,400 subsidised flats will be up for grabs this year, selling from HK$6,700 to HK$9,800 per square foot, the Post learned on Friday.

A source said the Housing Authority’s subsidised housing committee would discuss sales arrangements in a meeting on Wednesday.

The 4,431 flats, to be sold at 70 per cent of the market rates, are from three housing estates in Cheung Sha Wan, Kai Tak and Tung Chung. They are expected to be open for applications between late next month and mid-April.

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A lucky draw to select successful applicants is due to take place in June.

According to the source, flats in the Tung Chung estate will range in size from 278 sq ft to 572 sq ft, selling for HK$6,698 per sq ft, or between HK$1.6 million and HK$4.3 million a flat.

The Cheung Sha Wan flats will measure from 383 to 631 sq ft, selling for HK$9,234 per sq ft, or between HK$2.9 million and HK$6.3 million.

The Kai Tak flats range from 286 to 471 sq ft, selling for HK$9,755 per sq ft, or between HK$2.3 million and HK$4.9 million.

The source said the monthly income limit was proposed to be HK$30,000 for single applicants (before deducting the Mandatory Provident Fund) and HK$60,000 for families of two or more, up from the existing HK$27,400 and HK$54,700.

The asset limit would be HK$980,000 for single persons and HK$1.96 million for families, up from HK$850,000 and HK$1.7 million.

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The source said half of the flats would be reserved for registered public housing tenants, with the rest for others within the income and asset limits.

About 400 flats were to be reserved for single, non-elderly applicants, while some 1,300 flats get set aside for families living with at least one elderly person aged 60 or above, the source added.