Housing Authority posts strong year as 9,700 subsidized flats sold

The Hong Kong Housing Authority (HA) reported strong sales over the past year, with a total of 9,700 flats sold under the Home Ownership Scheme (HOS) and the Green Form Subsidised Home Ownership Scheme (GSH).

The sales comprised 7,132 units from five HOS projects and 2,538 units from GSH projects, representing about 99 percent of all units available during the period.

The robust sales performance contributed to an estimated surplus of approximately HK$17.7 billion for the current fiscal year, exceeding the original projection by more than HK$2.2 billion.

The HA said subsidized sale flats remained its primary source of income, generating around HK$14.9 billion in revenue—about HK$1.5 billion higher than initially forecast.

Separately, the quota for the White Form Secondary Market Scheme (WSM) 2024 has been increased by 1,500 to a total of 6,000. The additional quota has been fully allocated to young families under the age of 40 and individual applicants.

Beginning with HOS 2025, the HA will adjust the quota allocation ratio between Green Form and White Form applicants from 40:60 to 50:50.

In addition, the resale restriction period for subsidized sale flats under HOS 2025 and GSH 2025 in the open market will be shortened from 15 years to 10 years, a move aimed at facilitating homeowners’ upward mobility in the property market.

Applications for HOS 2025, GSH 2025, and WSM 2025 are expected to open in the second quarter of this year.