By South China Morning Post | Created at 2024-10-23 13:36:40 | Updated at 2024-10-23 15:24:50
2 hours ago
More than 100,000 Hong Kong households are eyeing the first batch of subsidised homes since a scheme was revamped to give priority to families with newborns, according to preliminary figures.
The Housing Authority gave the update on Wednesday evening for applications received under the Home Ownership Scheme as of 5pm, two hours before the cut-off time. The figures mean about 14 households will be competing for each flat.
This year, 7,132 subsidised flats are being offered at a 30 per cent discount from the market value.
About 172,000 applicants entered the draw last year for 9,154 homes sold at 62 per cent of the market price, with more than 18 applicants competing for a flat.
As part of the efforts to boost the city’s birth rate, 40 per cent of the flats this year, or 2,900 homes, are reserved for families with newborns and households with elderly members. These groups will also be given priority when it comes to selecting homes.
With prices ranging from HK$1.43 million (US$183,960) to HK$4.67 million, the latest subsidised homes are sized between 186 sq ft and 510 sq ft.
