URA to conduct selection and sale of “Starter Homes” Pilot Project units starting from 12 June 2019
The Urban Renewal Authority (URA) will conduct the selection and sale of flats for the “Starter Homes” (SH) Pilot Project, “eResidence” starting from Wednesday, 12 June 2019. Invitations for flat selection will be sent to eligible applicants by mail in batches, according to the application category and the sequence of priority number of each eligible applicant determined in the computer random assignment conducted earlier. The first batch of eligible applicants will be invited for flat selection during the period from 12 June to 18 June.
In compliance with the Residential Properties (First-hand Sales) Ordinance, the URA has uploaded the information on Sales Arrangement to the website of “eResidence” (www.eresidence.hk) and the Sales of First-hand Residential Properties Electronic Platform (www.srpe.gov.hk) today (3 June). Eligible applicants may also call the “eResidence” enquiry hotline at 2363 2283.
A group of 10 eligible applicants will be invited to each flat selection session, of which 6 eligible applicants from the “family applicants” category will first select the flats according to their respective priority numbers, followed by 4 eligible applicants from the “single applicants” category according to their respective priority numbers.
Eligible applicants and all adult members (at or above 18 years of age) listed in their applications for the family category should bring along the Invitation for Flat Selection letter together with the relevant documents listed in the Invitation to the Registration Venue at the assigned date (Date of Sale) and time (Registration Time) for the purchase of SH Unit. The Registration Venue is located at Shops 109-110, 1/F, Park Summit, 88 Beech Street, Tai Kok Tsui, Kowloon.
If the eligible applicant wants to postpone the assigned Date of Sale or Registration Time, he/she should call the “eResidence” enquiry hotline at least one working day in advance of the assigned Date of Sale. Should the eligible applicant fail to attend at the Venue at or before 6 p.m. on the assigned Date of Sale, he/she will lose the eligibility for flat selection under the SH Pilot Project.
On the Date of Sale, after making the Statutory Declaration and selecting the SH Unit to be purchased, the eligible applicant will be requested to sign the Preliminary Agreement for Sale and Purchase with the URA and pay the preliminary deposit for his purchase (equivalent to 5% of the purchase price of the SH Unit selected). The eligible applicant is therefore required to bring along a cashier’s order in the sum of HK$100,000 made payable to “Deacons” as part payment of the preliminary deposit. The balance of the preliminary deposit may be paid by way of a personal cheque.
Within 5 working days after the date on which the Preliminary Agreement for Sale and Purchase is signed, the purchaser is required to sign the Formal Agreement for Sale and Purchase at the office of the solicitors acting for the purchaser and pay another 5% of the purchase price, stamp duty and any other charges related to the purchase of the SH Unit.
Within 14 days from the written notice issued by the URA that assignment of the SH unit is ready for the purchaser to execute, the purchaser will be required to pay the balance of the purchase price (equivalent to 90% of the purchase price) and execute the Assignment to complete the purchase.
The SH Pilot Project, “eResidence” was open for application from 3 January to 23 January 2019. In March, the URA conducted the computer random assignment to determine the sequence of priority numbers of all applicants for flat selection. Commissioned by the URA in receiving applications and vetting eligibility, the Hong Kong Housing Society has invited the applicants for interview starting from late March in accordance with their application category and priority number for verification and confirmation of their eligibility.
For details of the above sales arrangements, payment terms, price list(s) and other information, please refer the website of the “eResidence” (www.eresidence.hk).
To the extent that this press release constitutes an advertisement, this notice shall apply.
Name of the Development: eResidence
Street Name and Street Number of the Development: 8 Hok Yuen Street*|District: Hung Hom
The address of the website designated by the Vendor for the Development#: www.eresidence.hk
The photographs, images, drawings or sketches shown in this advertisement/promotional material represent an artist's impression of the development concerned only. They are not drawn to scale and/or may have been edited and processed with computerized imaging techniques. Prospective purchasers should make reference to the sales brochure for details of the development. The vendor also advises prospective purchasers to conduct an on-site visit for a better understanding of the development site, its surrounding environment and the public facilities nearby.
Vendor: Urban Renewal Authority. Authorized Person for the Development: Mr. Chan Kam Tong Angus. The firm or corporation of which the Authorized Person for the Development is a proprietor, director or employee in his professional capacity: P&T Architects and Engineers Limited. Building Contractor for the Development: Gammon Construction Limited. The firms of solicitors acting for the Vendor in relation to the sale of residential properties in the Development: Deacons and Chu & Lau. The authorized institution that has made a loan, or has undertaken to provide finance, for the construction of the Development: Not applicable. Other person who has made a loan for the construction of the Development: Not applicable. To the best of the Vendor's knowledge, the estimated material date for the Development: 30 April 2020. ("Material date" means the date on which the conditions of the land grant are complied with in respect of the Development. The estimated material date is subject to any extension of time that is permitted under the agreement for sale and purchase.)
* The above provisional street number is subject to confirmation when the Development is completed.
# The address of the website designated by the Vendor for the Development for the purposes of Part 2 of the Residential Properties (First-hand Sales) Ordinance and containing electronic copies of the sales brochure, price list(s) and register of transactions.
Prospective purchasers are advised to refer to the sales brochure for any information on the Development. Please refer to the sales brochure for details. This advertisement is published by, or with the consent of, the Vendor.
All contents of this advertisement are for reference only and do not constitute and shall not be construed as constituting any offer, representation, undertaking or warranty, whether express or implied, given by the Vendor (whether related to view or not).
Date of printing: 3 June 2019