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Hong Kong youth rushed to apply for 1,500 additional quotas designated for individuals under 40 years old under the White Form Secondary Market Scheme, which commenced on Thursday.
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The scheme allows residents to apply for eligibility to purchase flats with unpaid premium fees in the Home Ownership Scheme Secondary Market or the Flat-for-Sale Scheme Secondary Market.
It also features a Youth Scheme, which includes 1,350 quotas allocated to young family applicants and 150 quotas allocated to young one-person applicants this year.
As of 5pm, the Housing Authority said it has received 2,600 applications in paper form, with 2,100 of them being Youth Scheme (WSM) applications.
A citizen under 30 believed the increased quota would improve the chances of purchasing his desired unit successfully. However, he also expressed that he is not overly optimistic about the result.
Another citizen collected the application form for a friend, mentioning that the 30-year-old friend is applying for the scheme for the first time as he is planning to get married and considering buying a new home.
The application period will remain open until March 26. Balloting is expected to take place in the second quarter, and approval letters for successful applicants are expected to be issued in the third and fourth quarters of this year.
(Updated at 7.15pm)
