Six Home Ownership Scheme estates will be sold this year, providing 4,871 flats priced at 59 percent of market level, with the cheapest one being a 275-square-foot flat in Ma On Shan at HK$1.56 million.
The six projects – Kwun Tak Court in Ho Man Tin, Hoi Tak Court in Cheung Sha Wan, Sheung Man Court in Kwai Chung, Yung Ming Court in Tseung Kwan O, Kam Fai Court in Ma On Shan and Yuk Wo Court in Sha Tin – will carry the largest number of flats sold under the scheme since the program was resumed in 2014.
A Housing Authority subsidized housing committee document said the properties would be ready for sale in May at the earliest.
The average price per square foot ranges between HK$6,961 and HK$8,551.
Kwun Tak Court on Sheung Lok Street, Ho Man Tin, provides 603 flats in two sizes – 445 to 483 square feet and 562 to 568 square feet, with the biggest unit priced at HK$5.29 million – the most expensive among six estates.
Yung Ming Court on Chi Shin Street in Tseung Kwan O provides 1,395 flats – the largest number of units among the six – with four sizes between 282 to 568 square feet.
Construction is expected to finish in August next year.
Sheung Man Court on Texaco Road will be completed in June next year while the remaining three projects will be finished in October next year. The projects are expected to accept applications in May. Balloting will be conducted in August and the first batch of successful applicants will select their flats in November.
The authority will hold a meeting on Friday to discuss sales arrangements and suggested reserving about 500 units in the six estates for single applicants.
They will be entitled to choose after all family applicants have picked their units, regardless of size and location.