Housing Authority releasing 2500 units at a huge market discout rate for eligbile applicants

In his 2015 Policy Address, the then Chief Executive, C Y Leung, proposed to the Hong Kong Housing Authority that suitable flats be identified among its public rental housing (PRH) developments under construction for sale to Green Form (GF) applicants in the form of a pilot scheme, with prices set at a level lower than those of Home Ownership Scheme flats.

Housing Authority releasing 2500 units at big discount rate for sale. Source: See man Lee, Creative Commons, Flickr

This scheme is designed to help GF applicants achieve home ownership while releasing more PRH flats for PRH Applicants. 

Now the Housing Authority will sell first batch of subsidized housing at a price lower than market rate 58% to eligible applicants.

Our correspondent, Renee Kwan, reports.