The flat selections for the Sale of Green Form Subsidised Home Ownership Scheme (GSH) Flats 2023 started today, with prospective buyers noting that the US Federal Reserve rate cuts may alleviate the burden of their mortgage repayments.
The selections take place at the designated GSH Sales Office in Kwun Tong, eligible applicants are invited in batches to select flats for sale according to their priority within the respective application category.
Lai Yuet Court in Cheung Sha Wan is among the hot picks as buyers said the flats come with good transportation access and diverse views.
The flats offered in this cycle include 2,359 from Lai Yuet Court -- ranging from 280 to 646 square feet of floor area -- and around 300 unsold or rescinded units from Kai Chuen Court in Diamond Hill, Ko Wang Court in Yau Tong and Kam Pak Court in Ma On Shan, as well as a new batch of about 350 recovered Tenants Purchase Scheme flats.
As for the Federal Reserve cutting its key lending rate by half a percentage point, one of the GSH applicants surnamed Sin said he is more than happy as the mortgage burden will be alleviated.
Another home buyer, surnamed Tang, said that the interest rate remains notably high despite the recent reduction, but he is satisfied with paying lower mortgage rates.
The Housing Authority said there were 172 family applicants at the scheme office in Kwun Tong on Thursday, and eventually there were 150 flats sold, with 126 of them at Lai Yuet Court.
Around 280 family applicants will be invited to choose a flat on the next flat selection day on Friday (Sep 20), it added.
The Authority received approximately 56,000 applications for GSH 2023, which were more than 23 times oversubscribed. The flats, priced between HK$1.54 million and HK$4.61 million, were offered at 48 percent below market prices.
(Updated at 7.41 pm)
