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Review of Green Form Subsidised Home Ownership Scheme pilot project
The following is issued on behalf of the Hong Kong Housing Authority:
     The Subsidised Housing Committee (SHC) of the Hong Kong Housing Authority (HA) today (January 30) endorsed regularising the Green Form Subsidised Home Ownership Scheme (GSH) having regard to the outcome of the review of the GSH pilot project.
     "The GSH pilot project at King Tai Court in San Po Kong indicates that the GSH provides an alternative avenue for Green Form (GF) applicants to achieve home ownership and is conducive to enriching the housing ladder. Given the 'one-for-one' arrangement under the GSH, while it will not increase the supply of public rental housing (PRH), it will not reduce the supply of PRH. The GSH serves the dual functions of meeting the home ownership aspirations of GF buyers and addressing the housing needs of PRH applicants," a spokesman for the HA said.
     The SHC also endorsed the major implementation details of the regularised GSH:
(a) making reference to the site selection criteria for the GSH pilot project previously endorsed by the HA;

(b) continuing with the eligibility criteria under the GSH pilot project;

(c) adopting the simplified price setting mechanism; and
(d) rationalising the arrangements concerning recovery of PRH units.
     "Concerning the resale restrictions under the regularised GSH, SHC agreed that more stringent resale restrictions should be imposed and considered that more deliberations on the practical arrangements were need. On the other hand, in light of the SHC's view to implement the GSH at a more modest pace, we are reassessing the Fo Tan site and other options. We will also proceed with the necessary preparation work with a view to launching the sale of the next GSH project in around the end of 2018," the spokesman said.
Ends/Tuesday, January 30, 2018
Issued at HKT 19:45
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