HOS 'king of flats' up for grabs

Local | Stella Wong 3 Dec 2019

A Ho Man Tin flat in the latest round of the Home Ownership Scheme has emerged as the "king of flats" with a price tag of HK$5.29 million, or HK$9,396 per square foot - the most expensive in the batch.

Housing Authority released sales brochures and price lists yesterday for the latest round of subsidized flats and potential buyers may select their flats starting next Monday.

A total of 4,871 flats in six HOS estates - 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 - have been put on sale at 59 percent of the market price.

Eligible applicants were originally scheduled to pick their flats in November but the procedure was postponed due to the recent unrest.

This batch's most expensive unit is the three-bedroom Flat 6 on the 26th floor of block A at Kwun Tak Court, with a floor area of 563 sq ft. The unit faces south and boasts a sea view.

Kwun Tak Court is expected to be popular among buyers as it is located among luxury estates and falls into the school net of the Kowloon City district, which has a large number of traditional elite schools.

On the other hand, the cheapest flat of this batch is Flat 4 on the 1st floor of Kam Fai Court in Ma On Shan. The 276-sq-ft flat is priced at HK$1,555,100, or HK$5,634 per sq ft.

Green form applicants, eligible for a mortgage of up to 95 percent of the property's value, only need a down payment as low as HK$77,800.

Mrs Yu was among those who collected a sales brochure at the Lok Fu customer services center yesterday morning.

"I am very happy. My daughter's family was lucky enough to get the first number when they applied for HOS flats for the first time," she said.

Currently renting a private housing flat in Tuen Mun, the family hopes to pick a flat in downtown, in areas such as Ho Man Tin and Cheung Sha Wan, she said.

When asked if they are worried about the effect of social unrest on property prices, Mrs Yu said she believes the family will not be affected as their flat is for self-occupation.

This round of the HOS is the most flats HA has put on sale since the scheme resumed in 2014.

The authority earlier received a record-breaking 310,000 applications for the 4,871 flats, oversubscribed by 62 times.

The units range from 276 to 568 sq ft and are priced between HK$1.56 million to HK$5.29 million.

In addition, 33 rescinded flats in five previous HOS projects - Ka Shun Court in Sha Tin, Ping Yan Court in Yuen Long, Ngan Wai Court and Ngan Ho Court in Mui Wo, and Choi Hing Court in Kwun Tong - were also put up for resale due to cancellation of their original agreement for sales and purchase.

stellast.wong@singtaonewscorp.com

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