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The first batch of resale HOS flats has a market price and at least 23 transactions have been recorded this year. The resale price is approaching 6 million

2020-09-28T00:11:38.800Z

The Housing Authority re-sold the home ownership flats in 2014. The housing estates include Sheung Chui Court in Tsuen Wan, Wang Fu Court in Yuen Long, Mei Ying Court in Sha Tin, Mei Pak Court in Sha Tin and Ching Chun Court in Tsing Yi. At that time, four housing estates accepted applications at the end of 2014, oversubscribed by 61.5 times, and competition was fierce. According to the resale restriction, the four housing estates can already be put into the second home ownership market one after another, that is, they can be resold to green form individuals or "white home second" buyers without paying land premiums. Statistics show that at least 23 transactions have been recorded in four housing estates this year, with an average appreciation of 74.1% to 94.5%, and the transaction price of some units is closer to 6 million yuan. In the HOS flats that were "struggling to collapse" that year, some sellers left the market with a reported profit of 2.95 million yuan. The "holding" has risen by 1.13 times in the past few years.



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Written by: Wang Jieen and Zhang Jiamin

2020-09-28 08:00

Last update date: 2020-09-28 08:00

The Housing Authority re-sold the home ownership flats in 2014. The housing estates include Sheung Chui Court in Tsuen Wan, Wang Fu Court in Yuen Long, Mei Ying Court in Sha Tin, Mei Pak Court in Sha Tin and Ching Chun Court in Tsing Yi.

At that time, the four housing estates accepted applications at the end of 2014, oversubscribed by 61.5 times, and competition was fierce.

According to the resale restriction, the four housing estates can already be put into the second home ownership market one after another, that is, they can be resold to green form individuals or "white home second" buyers without paying land premiums.

Statistics show that at least 23 transactions have been recorded in four housing estates this year, with an average appreciation of 74.1% to 94.5%, and the transaction price of some units is closer to 6 million yuan.

In the HOS flats that were "struggling to collapse" that year, some sellers left the market with a reported profit of 2.95 million yuan. The "holding" has risen by 1.13 times in the past few years.

Sheung Chui Court in Tsuen Wan was one of the housing estates that re-sold the HOS flats in 2014 and has so far recorded the most transactions in the HOS market.

(Photo by Ou Jiale)

The first home ownership flats sold that year included Sheung Chui Court in Tsuen Wan, Wang Fu Court in Yuen Long, Mei Ying Court in Sha Tin, Mei Pak Court in Sha Tin and Ching Chun Court in Tsing Yi, providing a total of 2,160 units.

According to regulations, in the third year of purchase, a unit can be invested in the second market (commonly known as the green form market), and it can be sold to the green form or white house second buyer without paying the land price, and the price is negotiated.

Four housing estates have been occupied in 2017 and are now available for sale in the second market.

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Further reading:

LVGEM Jingtai Court now speculates on prices and Housing Authority members worry about speculation tools and advocates tightening the lock-up period for green forms

GREAT King Tai Court "speculation" 8 months recorded 9 transactions of 500 square feet units earning 2.62 million

Mei Ying Court in Sha Tin was occupied in 2017, and some units changed hands for 5.58 million, with a book profit of 2.95 million.

(Photo by Ou Jiale)

At least three unit prices have doubled

The above-mentioned housing estates began to have transaction records in the second market this year, with at least 23 transactions.

Statistics show that the resale prices of the four housing estates have increased by an average of 74.1% to 94.5%.

Among them, Mei Ying Court in Sha Tin is the most eye-catching. The owner bought a mid-level unit for 2.62 million yuan in the same year, but this year it changed hands for 5.58 million yuan, and the book earned 2.95 million yuan.

Mei Ying Court was occupied in 2017, that is, in just a few years, the unit has increased by 1.13 times.

Shang Chui Court has the most turnover

The housing estate that recorded the most transactions was Sheung Chui Court in Tsuen Wan.

Shang Chui Court was the "Lou Wang" of the HOS at that time. At least 12 transactions have been recorded, four of which have doubled the book value.

According to the search by the Housing Authority, the Land Registry and the real estate agency information, two transactions were concluded in July this year. The owners bought the units for 2.56 million and 2.63 million respectively, and sold for 5.25 million and 5.35 million this year. Profits exceeded 2.68 million and 2.71 million yuan; and one transaction was sold in August this year with the original price of 2.765 million yuan, and was later sold for 5.6 million yuan, with a book profit of more than 2.83 million yuan.

The most profitable unit was the unit that was sold in September this year. The original price was 2.575 million yuan. According to information provided by the real estate agent, the low-level unit was sold for 5.38 million yuan and the book profit was over 2.8 million yuan, which was 1.08 times the profit.

In the real estate shop in Tsuen Wan, there are advertisements for the sale of Shang Chui Court.

(Photo by Ou Jiale)

The asking price of Shangcuiyuan green watch market exceeds 6 million

In addition to the units that have changed hands, there are also many units that have not been paid for.

Refer to the real estate website, Shang Chui Court and Ching Chun Court have the most listings.

A high-rise 438-square-foot 8-bedroom unit in Block B in Shang Chui Court has an asking price of 6.28 million yuan and a price of 14,338 yuan per square foot. Another unit of the same size is also asking for 6.18 million yuan.

Checking the price list of Shangcui Court, the 8-room unit in Block B, the Housing Authority sold only 2.359 million to 2.765 million that year. If the owner successfully sold it for 6.28 million, the book profit would be 3.51 million to 3.92 million.

At least 20 listings

In the real estate shop in Tsuen Wan, there was an advertisement for the sale of Shang Chui Court. A high-rise 439-square-foot unit sold for about 5.5 million yuan, while a low-rise unit of the same size sold for about 100,000 yuan, and the asking price was about 5.4 million yuan.

A real estate agent revealed that since the lock-up period, Shang Chui Court has been trading actively. There are still about 20 units on the market at an average price of 5 million yuan.

Housing Committee Member: The situation is not ideal

Zhao Guowei, a member of the Housing Authority and the director general of the Public Housing Association, pointed out that although the number of transactions is small, the situation is not ideal.

He explained that buyers have sold units in a short period of time, and they have made a lot of profits on the books. It is believed to be an "investment" behavior. Standing on the HOS as a kind of public resource is not happy to see.

He also pointed out that the resources of subsidized housing are precious. The government only wants to help the public to buy homes when selling new HOS flats. It is recommended to consider tightening the resale restrictions, that is, the practice of reselling to designated buyers of the Housing Authority at no more than the original price for the first two years , The future should be extended to 5 years, that is, buyers can only sell in the second market after they have lived for 5 years.

Zhao Guowei, member of the Housing Authority and Director-General of the Public Housing Association, suggested that the resale restrictions could be tightened.

(Profile picture/Photo by Zhang Haowei)

Green House Jingtai Court now speculates on prices and Housing Authority members worry about speculation tools and advocates tightening the lock-up period for green forms

GREEN Living King Tai Court "scrambles up" in 8 months and records 9 transactions with 500-square-foot units earning 2.62 million

The Housing Authority’s brainstorming talks on restricting the resale of new HOS flats have two poles: extend the lock-up period and only sell to green and white forms

HOS Housing Authority

Source: hk1

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