Hong Kong Housing Authority: 9,700 HOS and PSPS units have been sold by 2025, sales situation ideal

The Hong Kong Housing Authority announced that by 2025, a total of 7132 units from 5 new Home Ownership Scheme ("HOS 2024") developments, as well as 2538 units from a new Green Form Subsidised Home Ownership Scheme ("Green Form 2024") development, will be sold. This totals approximately 9700 units, accounting for 99% of the total number, and the sales performance is very ideal. The allocation for the "White Form 2024" scheme has been significantly increased by 1500 quotas to 6000, and all additional quotas will be allocated to applicants under the age of 40 and single applicants. The Housing Authority stated that many White Form and Green Form applicants have successfully benefited from the HOS, Green Form, and "White Form 2" schemes. The Housing Authority indicated that it will continue to introduce more optimized sales arrangements for subsidized sale units, including adjusting the quota ratio for Green and White Forms from 4:6 to 5:5 starting from "HOS 2025," to assist more public rental housing tenants in purchasing subsidized sale units and become homeowners, while releasing existing units to waiting list applicants. Starting from "HOS 2025" and "Green Form 2025," the restriction period for the sale of subsidized units on the open market will be reduced from the current 15 years from the first transfer date to 10 years, to encourage homeowners to move up the property ladder. In addition, the Housing Authority's Subsidised Housing Committee approved new plans for "HOS 2025," "Green Form 2025," and "White Form 2 2025" last month. The Housing Authority stated that it will simultaneously launch these 3 new plans, and is expected to start accepting applications in the second quarter of this year.