CIRCULARS
| Circular No. 99-07(CR) |
30th June, 1999 |
Sale and Purchase of Flats Under The Home Ownership Scheme & The Private Sector Participation Scheme
Since the coming into effect of the amendments to the Schedule of the Housing Ordinance (Cap. 283) on 1st June 1999, restrictions on alienation regarding flats under the Home Ownership Scheme (HOS) and the Private Sector Participation Scheme (PSPS) have been relaxed. These flats are now alienable as follows:-
| Period of Ownership (see note) |
Method 1 |
Method 2 |
| First two years |
re-sale to Housing Authority at original price |
not applicable |
| Third to fifth year |
re-sale to Housing Authority at a price assessed by Housing Authority (assessed market price minus the discount enjoyed at the time of purchasing from Housing Authority) |
sale to qualified persons in the Secondary Market |
| After five years |
after payment of premium to Housing Authority, sale/lease in the open market |
sale to qualified persons in the Secondary Market |
For practitioners' reference, all the estates under the HOS and the PSPS are listed in Schedule 1 hereto.
Flats under the Flat for Sale Scheme and the Sandwich Class Housing Scheme of the Hong Kong Housing Society have similar restrictions on alienation. A list of the estates concerned and provisions regarding alienation are listed in Schedule 2 hereto.
For details, please consult the Housing Authority or the Housing Society (as the case may be).
(Note: The period of ownership is calculated from the date of the first assignment by the Housing Authority/developer to a purchaser of the relevant flat and not from the date of the occupation permit granted to the building of which the relevant flat forms part.)
|