| 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.)
| 
