The social enterprise "New World Builds a Good Life" established by New World Development has launched the first privately-funded housing project pilot program. It plans to develop 300 privately-funded housing projects in New Territories West and is discussing with the government the issue of preferential land premiums.
Based on current information, the price per square foot of the "Private Home Ownership Scheme" project is about $9,000. Although the site is located in the New Territories West, it is higher than the average price per square foot of the recently launched HOS flats, including the Diamond Hill Kai which is located in the city centre. Xiangyuan.
However, New World said that in the future, the project will have terraces and general appliances, as well as a small club. According to sources, the facilities of the project are similar to those of private buildings, that is, they are different from the delivery of the "Clear Water Building" by the Housing Authority.
Can get preferential land price development
When New World announced the details of the plan today, it took a unit with a saleable area of 300 square feet as an example. It is calculated with reference to the land premium obtained by the public subsidized sale of housing rights. Together with construction costs and other costs, the unit is expected to be sold for about HK$2.7 million.
Buyers can sell the units freely in the market after making up for the land price difference to the government from the 10th year after buying the units.
If the owners want to launch a free market in 10 years, they are expected to pay one-third of the land price.
Looking at the information, when the Housing Association builds subsidized housing, only one-third of the market value of the land price is charged for residential use.
In other words, if New World builds "private home housing", it can be developed at preferential land prices instead of paying full land prices as usual.
New World has also revealed that it is currently discussing with the government the issue of preferential land premiums.
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
Kai Cheung Court in Diamond Hill is strategically located. The government sells it at 40% off the market price, with an average price of $8,919 per square foot.
(Photo/Photo by Ou Jiale)
The price per square foot is expected to be higher than that of Kai Cheung Court, Diamond Hill, with terraces and clubhouses
New World has not yet announced the exact location. It is only said to be located in the "Developed Zone" in West New Territories. One of the sites has buildings and the other has plans. However, according to the above example, the price per square foot of the unit has reached about 9,000. Yuan.
However, referring to recent new home ownership projects, even Kai Cheung Court in Diamond Hill in the city centre has an average price of only $8,919 per square foot, while the remaining projects in Fotan Choi Wo Court, Ma On Shan Kam Chun Court and Fanling Shan Lai Court , The average price per square foot ranges from 5,184 yuan to 7,414 yuan.
Different from the current Housing Authority’s new home housing "Ching Shui House", New World revealed that the project will have a terrace and general appliances, as well as a small club.
The management fee is hoped to be set between the government-owned housing and private buildings, that is, more than 2 yuan to less than 4 yuan per square foot.
At the same time, it will study cooperating with other non-profit organizations to open tuition clubs and education-related facilities.
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