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Arrangements on Sale of Surplus HOS Flats under Phase 6 approved (with photo)

The following is issued on behalf of the Housing Authority:

     The Housing Authority's (HA) Subsidised Housing Committee (SHC) today (May 17) approved various issues and arrangements regarding the sale of surplus Home Ownership Scheme (HOS) flats under Phase 6.

     Comprising the remaining stock of surplus HOS flats and the flats left over from a special sale exercise which will be completed in June, around 4,000 flats are priced with reference to what eligible buyers can afford as measured by their mortgage repayment ability.

     Following the general guideline and by applying a price discount of 30% to the assessed market values, the prices of the flats range from the lowest of $302,000 at Lung Hin Court in Tai O, Lantau Island, to the highest of $3,284,000 at Tung Tao Court in Hong Kong East. (See table for details)

     In setting the sale price of the surplus HOS flats, reference has been made to the sale transactions of comparable properties in the vicinity and what eligible buyers can afford. Due regard has also been given to the fact that the surplus HOS flats have been completed for some time and that some of them are returned flats and have been occupied before.

     Noting that recently there have been public calls for a higher White Form (WF) quota to facilitate flat purchases by WF applicants, the committee, after balancing all the factors including the policy objective of encouraging Green Form (GF) buyers to purchase HOS flats to rationalise the use of public resources, decided to adjust the GF:WF ratio to 60:40.  

     "Similar to previous phases, unused GF quota will be switched to WF applicants, and vice versa," said Professor Anthony Cheung Bing-leung, the Chairman of the SHC.

     The priority for flat selection between ordinary GF and WF applicants will follow the revised ratio to become 3:2. The order of priority for flat selection by category of applicants however will be maintained with family households being allowed to select flats before one-person households.

     Applications for the purchase of the surplus HOS flats under Phase 6 will be invited in June. Selection of flats by successful applicants is scheduled to start from August. Further details about applications will be announced later.

Ends/Monday, May 17, 2010
Issued at HKT 17:26


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