Hong Kong homebuyers scramble for new batch of subsidised flats – with HK$5.29 million home snapped up in 30 minutes
- The 4,871 flats from six estates was largest number of subsidised homes put on the market since the Home Ownership Scheme was restarted in 2011
- But only 54 of 80 randomly selected buyers turned up – a low turnout rate that would have been unheard of in the past
A three-bedroom Kowloon flat with harbour views – the biggest and most expensive of a new batch of available subsidised homes – was snapped up on Monday just 30 minutes after sales started.
The 4,871 flats from six Housing Authority estates in different districts was the largest number of homes put on the market since the authority restarted its Home Ownership Scheme (HOS) in 2011.
Eighty applicants – selected by lucky draw – were on Monday the first group of buyers for the newly available homes. But only 54 showed up, a turnout rate of 67.5 per cent, and 53 bought a property.
The selected buyers picked between housing estates in Ho Man Tin, Cheung Sha Wan, Tsuen Wan, Tseung Kwan O, Ma On Shan and Fo Tan. The sale will be continue until all of the flats are sold.
Kwun Tak Court, an estate in Ho Man Tin with 603 available flats in two sizes – 445 to 483 sq ft and 562 to 568 sq ft – was the most popular with buyers with 42 flats sold by the end of the day, followed by eight flats in Hoi Tak Court in Cheung Sha Wan.
The biggest flat in Kwun Tak Court – a 26th-floor unit priced at HK$5.29 million (US$675,770), or HK$9,396 per sq ft – was the most expensive home among all the estates, and was sold within 30 minutes of the opening of the sale.