HK$4 million sale of ex-public flat in Fung Tak Estate beats Kowloon record
A flat in a Wong Tai Sin estate has become the most expensive former public rental-housing residence in Kowloon after it was sold for HK$4 million.
A flat in a Wong Tai Sin estate has become the most expensive former public rental-housing residence in Kowloon after it was sold for HK$4 million.
The sale came as the government considered ways to expand forms of subsidised home ownership, to help the so-called "sandwich class", who cannot afford to buy a home in the private sector amid a continuous property boom but are too wealthy for public housing.
Land Registry records show the flat of about 440 sq ft on the 28th floor of Tsz Fung House in Fung Tak Estate was sold for HK$4 million, land premium included, earlier this month.
The price tag marks a record for public-housing flats on the Kowloon side. A flat at Wah Lai House in Wah Kwai Estate, Aberdeen, sold for HK$4.2 million in June last year. In the New Territories, the most expensive flat is in Wan Hang House in the public Wan Tau Tong Estate in Tai Po, which went for HK$3.68 million last month.
The previous record for a Kowloon public estate was a flat in nearby Fu Tung House in Tung Tau Estate, which sold for HK$3.6 million last month.
According to land registry records, the last transaction on the flat in the 23-year-old Fung Tak Estate was in September 2009, when it was sold for HK$1 million.
The flat was originally sold under the Housing Authority's Tenants Purchase Scheme (TPS), introduced in 1998 and terminated in 2002. Tenants of TPS estates can still exercise their right to purchase their flats.
