HA approves average selling prices and sales arrangements for GSH flats and sales arrangements for recovered TPS flats under GSH 2020/21
The Hong Kong Housing Authority (HA)'s Subsidised Housing Committee (SHC) today (March 15) approved the average selling prices and sales arrangements for the "Sale of Green Form Subsidised Home Ownership Scheme (GSH) Flats 2020/21" (GSH 2020/21) as well as the sales arrangements for the "Sale of Recovered Flats from Estates under the Tenants Purchase Scheme (TPS)" under the same sale exercise.
It is expected that applications will be invited in May 2021, with balloting in July and August and flat selection from September and October. The application fee for GSH 2020/21 will be $250.
Flats for sale
Flats put up for sale under GSH 2020/21 are as follows:
1. 2 112 flats from the new GSH development, Kai Chuen Court in Diamond Hill, with a saleable area of about 17.1 square metres to about 44.7 sq m (details are set out in Annex);
2. 523 unsold GSH flats from GSH 2019 comprising seven flats in Dip Tsui Court in Chai Wan, and 516 flats in Ching Fu Court in Tsing Yi, with a saleable area of about 17.4 sq m to about 17.6 sq m;
3. any additional rescinded flats from GSH 2019 as identified up to about two months before commencement of flat selection; and
4. about 800 recovered TPS flats.
Under the prevailing pricing mechanism, GSH flats will be sold at a discount of 10 per cent more than that determined for the preceding Home Ownership Scheme (HOS) sale exercise. As the discount rate, for HOS 2020, it was 40 per cent (i.e. for sale at 60 per cent of the assessed market values), the discount rate for GSH flats put up for sale under GSH 2020/21 (including Kai Chuen Court/unsold/rescinded GSH flats for resale) is set at 50 per cent.
"By applying a discount of 50 per cent from the assessed market values, the selling prices of flats in Kai Chuen Court range from about $1.18 million to $3.85 million," a spokesman for the HA said.
"The existing pricing for unsold flats in TPS estates are based on the Adjusted Replacement Cost approach. As at January 2021, the list prices of all unsold TPS flats in the 39 TPS estates range from about $140,000 to $1,260,000, and the discounts range from 82 per cent to 85 per cent of assessed market values (for sale at 15 per cent to 18 per cent of the assessed market values). About 800 recovered TPS flats will be put up for sale under this sale exercise, comprising the already recovered flats and flats to be recovered in the coming months. The final prices will depend on the flats that will be put up for sale under this exercise," the spokesman said.
Eligible Green Formers, including current TPS tenants, are eligible to apply under this sale exercise, and may choose to buy a GSH flat or a recovered TPS flat.
"Valid Green Form applicants under HOS 2020 who had indicated in the HOS 2020 application form their consent to carry over their applications to the next subsidised sale flat (SSF) sale exercise and who fulfil the application eligibility of GSH 2020/21 will automatically be included under GSH 2020/21 and do not need to submit applications nor pay the application fee again," the spokesman said.
"However, if they wish to apply for GSH 2020/21 in a household category different from that for HOS 2020 which may affect their priority for flat selection, they are required to inform the HA in writing during the application period of GSH 2020/21. Moreover, if they have successfully purchased a flat under HOS 2020 (flat selection scheduled to commence in May/June 2021), their application for GSH 2020/21 will be cancelled automatically," the spokesman said.
"We will notify the valid applicants in writing that their HOS 2020 applications have been carried over to GSH 2020/21 and provide them with the GSH 2020/21 application numbers (for online application, such notification will be sent to the applicants by email) before applications commence. If an applicant submits the application for GSH 2020/21 again, their application will be regarded as duplicated. If duplicated applications are found, for whatever reason, the HA will cancel all related applications," the spokesman said.
Priority for flat selection
The SHC decided to follow the established arrangement under which flat selection order of eligible applicants under GHS 2020/21 is determined by the application category, quota allocation and ballot results. When it comes to the turn of the eligible applicants for flat selection, they may select a GSH or a recovered TPS flat.
The spokesman said, "Absolute priority in flat selection will be offered to the family applicants living in Blocks 9, 10, 11 and 13 of Pak Tin Estate affected by the public rental housing clearance programme announced by the HA. After that, priority will be offered to the family applicants living in Shek Lei Interim Housing affected by the interim housing clearance programme announced by the HA. A quota of 800 GSH flats will be set aside for family applicants applying under the Priority Scheme for Families with Elderly Members. If they fail to obtain a quota allocation under this category, they would still have an opportunity to purchase under the 'Other families' category that comes immediately after. On the other hand, if applicants under the Priority Scheme cannot use up the quota, any unused quota places will be allocated to the 'Other families' category.
"To enable a reasonable chance for one-person applicants to purchase, the SHC agreed to set aside 300 GSH flats for this category. Following the established arrangement, one-person applicants will be allowed to buy any remaining GSH or recovered TPS flats after family applicants have selected flats, irrespective of the flat sizes. In case the 300 GSH flats and any remaining recovered TPS flats are not fully consumed after the list of one-persons is exhausted, all the remaining flats will be allocated back to the 'Other families' category", the spokesman said.
Starting seven days before the commencement and up to the end of the application period, doll houses of typical flats and building models for Kai Chuen Court, and exhibition panels and other information on the GSH developments, as well as photos of the interior of samples of recovered TPS flats and exhibition panels and other information on TPS estates will be provided at the GSH Sales Office in Kwun Tong and on the HA's and Housing Department's (HD) designated websites. For recovered TPS flats, photos and video clips of the interiors of all recovered TPS flats for sale will be provided during flat selection period.
As regards distribution of sales information, sales booklets for new GSH flats and sales leaflets for unsold/rescinded GSH flats and recovered TPS flats providing sales arrangements and basic information of the developments and estates will be made available to the public starting seven days before commencement and up to the end of the application period. Sales brochures for new and unsold/rescinded GSH flats (and sales pamphlets for recovered TPS flats) covering greater details of the developments and estates and price lists will be available for public collection and viewing on the HA's and HD's designated website at least seven days before commencement of the flat selection period.
In view of the popularity of online applications, the HA will continue to provide online applications (including e-applications, e-payments and e-notifications), in addition to the paper submission channels (paper form, either in person or by post) for GSH 2020/21.
"While applicants may choose either to submit paper-based application forms by post or by hand (locations that accept submission of completed paper-based application form are listed in the application guide) or to submit online applications for GSH 2020/21, applicants are encouraged to submit online applications," the spokesman said.
Ends/Monday, March 15, 2021
Issued at HKT 17:50
Issued at HKT 17:50