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Following is issued on behalf of Housing Authority:
Members of the Housing Authority's Subsidized Housing Committee (SHC) today (November 23) approved the average selling prices for 3,056 surplus Home Ownership Scheme (HOS) flats to be offered for sale in early January under Phase 1 of 2007.
By applying a price discount of 30 per cent to the assessed market values, the average selling prices and range of flat selling prices are as follows -
Projects Average Selling Range Range
/Courts Prices at of of
30% Discount Flat Flat
$/sq.m. SA Size Selling
($/sq.ft. GFA) sq.m. SA Prices
(sq.ft. ($/flat)
GFA)
Kingsford 30,600 39.2 981,500
Terrace to 55.0 to
Stage I, (2,420) (495 1,896,700
Wong Tai to 694)
Sin
Yu Chui 27,100 47.4 967,600
Court to 61.6 to
Stage III, (1,840) (674 1,862,100
Sha Tin to 944)
Tin Fu 14,300 47.0 563,900
Court (1,010) to 60.4 to
Block J, (665 932,400
Tin Shui Wai to 854)
The selling prices for individual flats are fixed by taking into account the relative attractiveness of the flats within the court such as orientation, floor level, views and other relevant factors.
Explaining the pricing policy, the Chairman of the SHC, Mr. Michael Choi Ngai-min, said "the essence of our pricing policy is based on affordability and is to ensure that prices are pitched at a level commensurate with the repayment ability of the potential buyers."
At today's meeting, members also endorsed other sales related arrangements.
As approved by Members in January, the quota allocation between Green Form (GF) and White Form (WF) applicants would be set at 80:20 with any unfilled quota being passed to the other category or vice versa.
On flat selection arrangements, members had also approved that eligible one-person households would be placed after family households, and that top priority will be given to families affected by Housing Authority-initiated clearance programme.
To strengthen the support for families with elderly persons as advocated in the 2006 Policy Address, the next priority will be given to GF families and WF nuclear families with elderly persons. Priorities for flat selection for other categories of applicants will remain as previously approved.
To uphold the ¡§user-to-pay¡¨ principle, an initial application fee of $100 will be charged on application and a top-up fee of $185 at the time of flat selection for successful applicants.
Purchasers of Tenants Purchase Scheme (TPS) flats within 10 years from the date of assignment could apply for purchase of surplus HOS flats on condition that they will sell their TPS flats within three months of purchasing the surplus HOS flats to avoid double housing benefit.
As all the flats scheduled for sale in 2007 Phase 1 are unoccupied new flats, to follow the practice adopted in past HOS sale programmes, inspection of individual flats by prospective purchasers will not be arranged. However, HA will carry out pre-sale defect rectification to all the flats to bring them to a reasonable standard before handover to purchasers and provide a defect liability period of one year from the date of assignment of individual flats. On-site show flats for the 3 projects will also be available for viewing by applicants during the application as well as the flat selection period.
Application will be invited in early January next year and the selection of flats by successful applicants is scheduled to commence in March. There will be further announcement on the detail arrangements around mid December this year.
Ends/Thursday, November 23, 2006
Issued at HKT 14:24
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