New World’s non-profit housing social enterprise "New World Builds a Good Life" proposes to develop the first non-profit private subsidized housing project in Hong Kong, selling it at 50 to 60% off the market price, and proposes a new mortgage method at half the property price You can choose to undertake mortgage payments in one lump sum or in stages within ten years after the transaction is completed.
Buyers should pay attention in the future. Although the initial contribution burden is relatively light, but since the rest of the property price will also be paid later, the overall contribution capacity must be considered. If the supply is cut off due to changes in work or income in the future, New World will take it back The unit is for other applicants to apply again.
Concerned groups have expressed that the New World has not officially announced the site selection so far. They are worried that the land involves sensitive ecological areas and that the nearby infrastructure will be built with public funds.
New World today proposed the construction of privately-funded housing. If it is implemented in the future, the first phase will donate a piece of land in the west of the New Territories for a pilot project.
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New World proposed the implementation of "Easy Mortgage on Car" to solve the problem of the lack of large down payment and the difficulty of initial payment for home ownership by young families. Therefore, it is proposed to create a "progressive payment" mortgage.
When a building is transacted, buyers only need to undertake a mortgage for half of the purchase price of the unit, and the remaining half of the mortgage can be acquired in a lump sum or in phases within 10 years after the transaction is completed.
In other words, after purchasing a flat, the buyer has to choose "Full pay" for the remaining half of the property price within 10 years or a phased mortgage, that is, during the first 10 years of the mortgage, if the buyer's affordability increases , You can choose to start repaying the other half of the property price, but the dead line is the 10th year, that is, the property price is 2.7 million yuan based on the flattest unit in this plan, and buyers can choose to pay half of the property in the first few years The amount of the mortgage at the same price, but the remaining tenure must be "overweighted" to increase the monthly repayment amount until the repayment amount is equal to the monthly repayment amount when the mortgage is undertaking the entire property price.
If the owner cuts off the payment, New World will take it back and sell it to qualified persons, such as those holding the White House Second Permit, but it has not yet determined how to deal with the difference.
Extended reading: Private Home Ownership | New World Advocacy Subsidized Housing Market Price 50% Off Sale of 2.7 Million, First Phase of 135,000 on Car
Chen Jianqing, a member of the Local Research Institute, hopes that New World will announce the site selection as soon as possible.
(Photo by Yu Junliang)
Concerned about ecologically sensitive areas, public funds should be used to build infrastructure to "open the way"
Chen Jianqing, a member of the Indigenous Research Group, said that the most worrying issue is the site selection. Because New World only mentioned "New Territories West" today, but did not disclose the location of the land, it is worried that the land involves sensitive ecological zones, which will affect the ecology.
In addition, if the relevant land belongs to the "birth land", I am even more worried that the nearby infrastructure will be constructed by public funds. "It is social corporate responsibility. The site selection should be announced as soon as possible."
Chen Jianqing also pointed out that in the past there were also privately-participated HOS projects in Hong Kong, but this time the proposal proposes to sell them at a market price of about 50% to 40% off. The first-placed car board offered by Carrie Lam has even more discounts. There can be a home ownership price...that proves that the government’s housing policy is not aggressive.” According to the data, the first first home purchase project "Huan Ran Yi Ha" was sold at a 62% off the market price at the end of 2018, while the units in the Anderson Road project in Kwun Tong were sold at a market price of 8 Sale at a discount.
Private Home Ownership｜New World Advocates to build subsidized housing at 50% off the market price to sell 2.7 million, the first phase of 135,000 on the car New World plans to launch privately subsidized housing, the first phase of 135,000 is currently available in this market has a choice of private housing | New World Construction of subsidized housing The price per square foot of the attached appliances is more expensive than that of Kai Cheung Court in Diamond Hill
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