The “Home Ownership 2023” project, which offered more than 9,600 units, was completely sold out last Friday (May 31). Huang Bi, Chairwoman of the Subsidized Housing Subcommittee of the Housing Authority, stated on a Hong Kong radio program on the 3rd that in the initial stage of the project, sales were slower due to the location not being very convenient in terms of transportation. However, the fact that all units were eventually sold proves that there is still a high demand in society for subsidized housing.
Huang Bi mentioned that in the “Home Ownership 2023” project, especially in the three estates of Ang Yip Court, Ang Wah Court, and Ang Lai Court in Ngau Tau Kok, sales were initially slow as buyers found the transportation not very convenient. Nevertheless, all units were eventually sold out, indicating that there is still significant demand for subsidized housing among both green and white form buyers. Many buyers with less financial capacity still need assistance from the Housing Authority to become homeowners.
Additionally, the Housing Authority launches a Green Form Subsidised Home Ownership Scheme (GSH) each year. White form buyers can only choose subsidized housing, while green form applicants have an additional choice. Therefore, they are more cautious in selecting their desired units. Huang Bi also mentioned that currently, GSH and public housing remain interchangeable. If there is a high demand from white-form buyers in the market, adjusting the ratio of green and white forms is “definitely worth considering.” However, she did not provide a specific timeline, explaining that the current property market is relatively stable, and the government’s cooling measures have increased demand in the private market. Therefore, further observation is needed before making decisions based on supply and demand.
Starting this month, when subsidized homeowners apply for a “Certificate of Compliance for Sale,” they must submit copies of utility bills issued by utilities within the past 6 months as proof of residence to support their applications. Huang Bi pointed out that this is to streamline the process based on past instances of violations.
Regarding the applications of single white-form individuals in this round, due to the quota not being fully utilized, even applicants up to the third drawn ball number have the opportunity to select units. Huang Bi believes that in the past, single buyers had limited opportunities to participate in unit selection, so it is considered a positive development this time.
The “Home Ownership 2023” project launched the sale of 6 new built subsidized housing development projects, offering a total of 9,154 units. During the application period, the Housing Authority received approximately 172,000 applications. After about 70 days of unit selection process, all units were sold out at the end of last month.