Hong Kong 2006
Chapter 11:
Housing Policy
Institutional Framework
Public Rental Housing
Home Ownership
Housing for Groups
in Special Need
Housing Supply
Private Sector Housing
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Home Ownership

Sale of Subsidised Flats

Since 1978, more than 443 8004 subsidised sale flats have been sold to households of eligible families/persons at discounted prices under the Government's various subsidised home ownership schemes. Among these were the Home Ownership Scheme (HOS)/the Private Sector Participation Scheme (PSPS) and the Tenants Purchase Scheme (TPS) under the HKHA. To support Government efforts to consolidate its housing policies and to minimise intervention in the property market, the HKHA halted the TPS following the sale of Phase 6, ceased the production and sale of HOS flats from 2003 onwards and terminated the PSPS. All unsold and returned HOS flats would not be sold as subsidised housing flats before the end of 2006. However, to address the situation of surplus HOS flats remaining in its possession, the decision was made in early 2006 to sell 16 600 surplus HOS flats in phases to eligible applicants. Two sale phases, comprising about 2 000 to 3 000 flats each, were earmarked for each of the three years from 2007 to 2009. This arrangement prevents the launching of a large number of flats in one batch and minimises any impact on the private residential market. The HKHA will continue to keep an eye on changes that might warrant adjustments to the announced sales programme.

4Including flats sold by the HKHS. Of the 443 800 flats sold since 1978, 57 300 flats can be traded in the open market as at end December 2006. These flats are not counted as subsidised sale flats under the current definition.
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