The government invited public tenders for a private residential site on Anderson Road, Kwun Tong, for implementing the second Starter Homes for Hong Kong Residents pilot project.
The project’s developer is required to offer the Starter Homes units selected by the Government for sale at 80% of market prices to people who meet the eligibility criteria. Having made reference to the experience from the Starter Homes pilot project at Ma Tau Wai Road, eligible applicants should be Hong Kong residents who have lived in the city for seven years, never owned any residential property in Hong Kong, whose income falls between the income limits for White Form (WF) applicants for the Home Ownership Scheme (HOS) and 30% above such limits.
Their assets should also not exceed the limit of 30% above the HOS asset limits for WF applicants. The government will determine the detailed eligibility criteria prior to the sale of Starter Homes units by the developer by making reference to the prevailing HOS limits. Owners cannot sell or let their Starter Homes units in the first five years after purchase. After the first five years, owners have to pay a premium to the government before they can sell or let their units in the open market.
The tender invitation will close on May 15.