New batch of home ownership scheme flats at a 40 percent discount

New batch of Home Ownership Scheme flats will be sold at a 40 percent discount, with prices ranging from HK$1.17 million to HK$4.89 million, Housing Authority announced.

The authority announced today that the selling prices of the new flats and rescinded flats for resale under the Sale of Home Ownership Scheme Flats 2020 have been finalized at a 40 percent discount from the assessed market value.

The application period has already commenced on September 10 and will last till 7pm on October 7.

"In accordance with the established pricing mechanism, and based on the median monthly household income for non-owner occupier households for April to June 2020, the average selling prices of the flats to be sold under the scheme are finalized at a 40 percent discount from the assessed market value,” a spokesman for the authority said.

“Compared with the provisional average selling prices, the finalized average selling prices represent a downward adjustment of about five percent.”

According to the latest information provided by the Census and Statistics Department, the median monthly household income of non-owner occupier households for April to June 2020 saw a drop of about five percent as compared with the figure for January to March 2020.

The scheme includes four new Home Ownership Scheme developments, namely Kai Cheung Court in Diamond Hill, Choi Wo Court in Sha Tin, Kam Chun Court in Ma On Shan and Shan Lai Court in Fanling, providing 7,047 flats.

Also, a total of 18 rescinded flats previously put up for sale under the scheme in 2018 and any additional rescinded flats from the scheme of 2018 or 2019 as identified up to about one month before the commencement of flat selection are also included for resale in this sale exercise.