More homes for youngsters up for grabs starting today

Cheng Wong

The White Form Secondary Market Scheme 2024 will open for applications today, offering a total of 6,000 units, with ballots to be drawn in the second quarter.

The Hong Kong Housing Authority announced yesterday that WSM 2024 will accept applications from 8am today until 7pm on March 26.

"The HA's Subsidized Housing Committee endorsed on January 14, 2025, that starting from WSM 2024, the quota will increase significantly by 1,500 to 6,000," an HA spokesman said. "All of the 1,500 additional quotas will be allocated to young applicants aged below 40 under the Youth Scheme, while the remaining 4,500 will be ordinary quotas."

He noted that Youth Scheme applicants must be at least 18 years old by the application closing date and under 40 by the commencement date.

Under WSM 2024, the allocation ratio of quota for family and one-person applicants is kept at 9:1, which means of the 4,500 ordinary quotas, 4,050 are for families and 450 are allocated to one-person applicants. The 1,500 additional quotas of the Youth Scheme comprise 1,350 for young families and 150 for young individuals.

Income and asset limits for family applicants are set at HK$60,000 per month and HK$1.23 million, respectively, while those for one-person applicants are HK$30,000 per month and HK$615,000.

Eligible applicants for WSM 2024 can submit applications online, in person or by post, with a HK$250 fee. Approval letters for successful applicants are will be issued in the third or fourth quarter.

"Holders of the approval letters may submit applications to the HA or the Hong Kong Housing Society for the certificate of eligibility to purchase [valid for one year] a flat with premium not yet paid in the Home Ownership Scheme secondary market or the Flat-for-Sale Scheme secondary market," the spokesman said.