************************************************************
The following is issued on behalf of the Housing Authority:
Application for the Scheme of Extending the Home Ownership Scheme (HOS) Secondary Market to White Form (WF) Buyers, with a quota of 5 000, starts on Friday (January 4). The Housing Authority (HA) is inviting eligible persons to submit applications by January 18.
"In case of over-subscription, ballots will be drawn. The HA will vet the eligibility of the applicants in accordance with the priority for the quota allocation as determined by the ballot. After the vetting, the Housing Department (HD) will announce in mid-May the priority list of the 5 000 successful applicants. Approval Letters will be issued to the first batch of 2 500 successful applicants in accordance with the priority list at the end of May and to the remaining 2 500 at the end of December. Holders of the Approval Letter have to apply to the HA or the Hong Kong Housing Society (HKHS) for a Certificate of Eligibility to Purchase before seeking and purchasing suitable flats with premium not yet paid on the HOS Secondary Market or the HKHS' Flat-for-Sale Scheme (FFSS) Secondary Market," a spokesman for the HA said today (January 2).
Under the scheme, the income limit for family applicants is $40,000 per month and the asset limit is $830,000. The income and asset limits for singleton applicants are $20,000 per month and $415,000 respectively. The quota for family applicants is 4 500 whereas the quota for singleton applicants is 500.
WF buyers are not allowed to sell their flats with premium not yet paid on the HOS Secondary Market in the first two years after they have purchased the flats so as to prevent speculative activities in the secondary market. However, they are allowed to sell their flats in the open market anytime upon paying the premium.
"Prior to the submission of applications, applicants should consider factors such as their own financial ability, the situation of the property market and mortgage interest so as to make a proper decision," the spokesman said. "Apart from this scheme, applicants are allowed to apply at the same time for Greenview Villa under the HKHS. In case both applications are successful, they can only opt for one of the schemes and the remaining application will be cancelled."
The spokesman added, "Whether the applicants can successfully purchase a flat depends on many factors, including whether there are flats available for sale in their desirable locations."
In response to the aspirations of low- and middle-income families to buy their own homes, the Government proposed to extend the HOS Secondary Market and the FFSS Secondary Market to eligible WF applicants with an annual quota of 5 000 as an interim scheme before the completion of the first batch of the new HOS flats.
During the application period from January 4 to 18, application forms and guides can be obtained at the HA Customer Service Centre in Lok Fu, Estate Offices or District Tenancy Management Offices of the HA and the HKHS, the Sham Shui Po Housing Information Centre, and the Public Enquiry Service Centres of the Home Affairs Department. The materials can also be downloaded from the HA/HD website (www.housingauthority.gov.hk). Interested parties can also call the HA Hotline on 2712 2712 for enquiries.
Ends/Wednesday, January 2, 2013
Issued at HKT 15:00
NNNN
