Subsidised Flats in Urban Areas: Pricing Mechanism Under Scrutiny
The Latest Subsidised Flats Offering
The Hong Kong Housing Authority has approved the Home Ownership Scheme sales for urban areas, introducing 7,132 subsidised flats with a 30% discount on market prices. Available homes will be priced between HK$1.43 million (US$183,400) and HK$4.67 million, located in areas such as Kowloon’s Kwun Tong, Kai Tak, and Yau Tong.
Discount Rate and Pricing Mechanism
- The revised pricing mechanism considers family budget and subsidies.
- The median household income now dictates affordability, ensuring at least 75% of flats are within reach for eligible buyers.
Affordability Comparison
Subsidised flats in Kai Tak, priced at a 30% discount, have a selling price per square foot of HK$9,230, compared to HK$16,008 in nearby projects. This highlights the affordability of the housing initiative.
Down Payment Insights
Eligible buyers face down payments of just 5-10%, making the opportunity accessible amidst rising costs seen in other regions such as Singapore.
Public Demand for Urban Flats
Lawmaker Scott Leung Man-Kwong expresses optimism about public interest in urban subsidised flats, while colleague Chan Hok-fung questions whether the discount will satisfy potential buyers.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.