Hong Kong to Offer Over 72,000 Subsidised Homes in Five Years, Minister Says
Hong Kong's housing minister announced that over 72,000 subsidised sale units will be completed in the next five years, boosting homeownership opportunities. The upcoming 'Home Ownership Scheme 2025' sale will offer nearly 7,000 new flats and about 400 re-sold units, with prices ranging from HK$1.5
Hong Kong's Secretary for Housing, Winnie Ho, said on Wednesday that more than 72,000 subsidised sale flats will be completed in the next five years, giving more families a chance to own a home. In a social media post, she said the government has been working to speed up, increase, improve and enhance housing supply.
Ho also announced that the 'Home Ownership Scheme 2025' (HOS 2025) will begin flat selection next Wednesday. The sale includes five new HOS developments in Kai Tak, Kam Tin, Tseung Kwan O, Ping Shan and Tung Chung, offering nearly 7,000 units. The flats' saleable areas range from about 281 sq ft to about 560 sq ft. In addition, about 400 re-sold HOS flats will be offered.
Prices for the new HOS flats range from about HK$1.5 million to HK$4.8 million, Ho said. She gave an example: for a flat priced at HK$2.8 million with a saleable area of about 390 sq ft, a buyer taking a 90 per cent mortgage over 30 years at the current interest rate of about 3.5 per cent would pay about HK$11,300 per month.
The Housing Authority will invite eligible applicants in batches by post or email, according to the priority order of application categories, to select flats at the authority's customer service centre in Lok Fu during designated times.
Ho said the current term government has significantly increased the supply of subsidised sale flats in recent years, with more than 72,000 units expected to be completed in the next five years.