Green flats make the cut

Local | Stella Wong and Sophie Hui 22 Mar 2019

Seven flats at Lai Tsui Court in Cheung Sha Wan, which is the first project after the government formalized the Green Form Subsidised Home Ownership Scheme, will be priced below HK$1 million.

The scheme helps public housing tenants and those eligible for public housing to buy their own flats by selling the units at 42 percent of the market price.

The Housing Authority previously received more than 40,000 applications for a total of 2,545 flats in four blocks.

The flats range between about 184 square feet and 452 square feet and are priced between HK$932,500 and HK$3 million.

The pricing scheme announced yesterday showed seven flats are priced under HK$1 million, and range from HK$932,500 to HK$994,300.

The cheapest apartment is Flat 16 on the first floor of Block 3. The apartment is 184 square feet and priced at HK$932,500, or HK$5,068 per square foot.

As green-form applicants can have a mortgage that is up to 95 percent of the property's value, buyers of the flats need only a down payment as low as HK$46,600.

The priciest unit is Flat 7 on the 38th floor of Block 1. The 450-square-foot apartment costs HK$3.06 million, or HK$6,805 per square foot.

The flat faces east and has a view of Cheung Sha Wan Playground.

The buyer of the flat is required to pay about HK$150,000 for the down payment. People who were selected in the open ballot last month will have a chance to choose their flats next Thursday.

Citizens visited the sales office in Kwun Tong yesterday.

Many of them said the prices of the flats are reasonable, and the location is convenient.

A woman, surnamed Chan, secured the first number on the ballot and said she wants to buy the biggest flat. She lives in a 200-square-foot flat at Fu Shan Estate with her husband and son.

"The down payment is really not a lot. I think we need to take some responsibility to society. If we have the ability and the chance, then we should give the public housing flat to those in need," Chan said.

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