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Written by: Wang Jieen
2020-03-24 13:05
Last updated: 2020-03-24 13:05In order to speed up the sale of end-of-sale units in the Tenant Purchase Scheme, the Housing Authority's Subsidized Housing Subcommittee has previously approved the freezing of reclaimed units in rental estates, which can be sold later when the units are vacated.
The Housing and Transport Bureau submitted a document to the Legislative Council to propose a plan to speed up the sale of end-of-sale flats, mentioning that in addition to the current rent outdoors, it may consider expanding to green form people to buy rented flats in the future. However, the Administration considers that both existing tenants and new categories of buyers should adopt the same pricing mechanism and transfer restrictions. The document also states that according to the Housing Authority's Subvented Housing Subcommittee's proposal, when the unit is still not sold, consideration can be given to expanding the target buyer to white-form persons.
The Administration hopes that the sales arrangement proposal can be submitted to the Housing Authority in the second or third quarter of this year, and the units will be sold to new categories of buyers (such as Green Forms) from the end of this year or early next year.
The Housing Authority launched a home ownership scheme in 1998 to allow public housing tenants to purchase existing flats at discounted prices. There are 39 housing estates in the TPS, involving more than 180,000 units, including Changan Village in Tsing Yi. (Profile picture / photo by Zhang Haowei))
Consider expanding to white-formers
The document states that in addition to the existing tenants who can buy a unit, the types of buyers can be increased, including Green Forms (that is, those who are currently living in other public housing tenants or those who have passed the eligibility review). The Housing Authority believes that for the sake of fairness, the two types of buyers should adopt the same pricing mechanism and transfer restrictions.
The document also states that the Subcommittee on Subsidised Housing has mentioned that if the unit is still not sold when the unit is recovered to a new category of buyers, one of the possible directions is to expand the target buyer to other categories, such as white-formers , Or a public housing applicant who has not yet been eligible for a green form.
As of the end of December 2019, of the approximately 184,000 rentable units available for sale, approximately 41,000 units (ie approximately 22%) remained unsold. (Photo / Photo by Zhang Haowei)
Or you can increase the discount rate and sell it quickly
According to the provisions of the current TPS, tenants living in TPS estates can enjoy the full "special discount" (35%) if they purchase a unit in the first year; they can enjoy half the "special discount" (17.5%) if they purchase the unit in the next year ); If purchased in the third year after the lease becomes effective, you will not be entitled to any Special Discount Offer.
The authorities continue to point out that further consideration should be given to whether new categories of buyers should also enjoy the "special discount offer" that was enjoyed only in the first two years.
In order to provide existing tenants with additional incentives to purchase existing units, the document discloses that additional benefits may be considered in addition to the above offers, and directions may be considered to include providing "special discount offers" to existing tenants who have passed the first two years of the lease. "Or increase the discount rate for" Special Discount Offer ".
Under the tenancy plan, due to the mixed ownership relationship, issues such as maintenance and estate management are generated. (Profile picture / Photo by Lu Yiming)
Can consider relocating existing tenants including providing a limited time rent-free period
The Housing Authority acknowledged in the documents that, although the Housing Authority recycles approximately 1,200 rental units each year, it takes a long time for natural recycling units to be recovered. Therefore, in addition to attracting existing tenants to purchase their units, consideration should be given to formulating a special relocation plan to relocate the relevant tenants to other non-tenant housing estates.
According to the authorities, when planning for relocation, consideration may be given to providing tenants undergoing relocation with a limited rent-free period, allowing them to choose other public housing estates (including newly completed public housing estates) and providing additional relocation allowances.
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Housing unit pushes sale of housing units at the end of the year
More than 41,000 units in 39 housing estates involved in the home ownership plan
Housing Authority intends to freeze rented housing units from March 11
The Housing Authority will launch the sale of rented units to Green Form at the end of this year as soon as possible
Or sell it together with HOS Green House
The Housing Authority proposes that the units under the TPS can be sold together with the sale of HOS and green homes each year. If the practice is allowed, there will be two sales per year.
The Administration explained that if the units were sold together through the existing HOS and / or Green Home Sales Scheme, the lottery arrangement could be used as a priority for the applicants. If the sale is uninterrupted throughout the year, the authorities may sell the units one by one on a first-come, first-served basis. They are worried that the disguised decision of the priority based on the time cost of the applicant may cause injustice and inconvenience to the public.
Public Housing Housing Authority Transport and Housing Bureau