Advertisement

New batch of Hong Kong subsidised flats still good deal even with lower discount, advisers say

  • More than 7,000 subsidised flats will be offered at a 30 per cent discount to market prices under Home Ownership Scheme

Reading Time:3 minutes
Why you can trust SCMP
1
Flats will be offered at five sites, including one in Kai Tak. Photo: Elson Li
The latest batch of subsidised flats will still be attractive to Hong Kong’s low- to middle-income buyers despite the discount being the lowest in six years and a drop in private property prices, housing advisers have insisted.
Advertisement

Cleresa Wong Pie-yue, chairwoman of the Housing Authority’s subsidised housing committee, defended the pricing on Tuesday as her team approved sales arrangements for the coming batch of Home Ownership Scheme flats this year.

The authority, the city’s largest provider of public housing, will offer more than 7,000 subsidised flats at a 30 per cent discount to market prices.

“We will not compare prices in the private market as we have different target buyers. We want to help buyers who cannot afford private homes,” Wong said.

“Even when the property market slumps, there are some people who cannot afford the prices.”

Advertisement

She said the authority had many measures to help successful applicants, such as providing a mortgage default guarantee period.

Advertisement