3,670 Applications Received for “Starter Homes” Units at the URA’s eResidence Tower 3
The Urban Renewal Authority (URA) received 3,670 applications for the 260 units at eResidence Tower 3, a Starter Homes for Hong Kong Residents (SH) Project during the application period which ended on 18 October 2023.
According to initial statistics, around 67% of the applications were from individuals, while approximately 33% came from families. Within the family applicants, two-person households made up the majority, accounting for 21% of the total. The majority of applicants, about 86%, were young people under the age of 40.
During the application period, the sales office and show flats received over 3,240 visitors. Meanwhile, the dedicated hotline for the SH project answered about 490 enquiries. Over 80% of them specifically related to the eligibility requirements for application.
The URA is currently handling the applications received. All applications will be assigned a computer-generated random number for priority by the end of November 2023. From December 2023 onwards, the URA will invite these applicants to attend interviews forming part of the eligibility vetting process. Flat selection will occur around March 2024, and eligible applicants will be invited to choose their flats based on the order of their priority number. The URA will announce the specific dates for flat selection in the Sales Arrangements at a later stage.
The latest updates of the Sales Arrangement for eResidence Tower 3 will be uploaded to the eResidence Tower 3 website (www.eresidencet3.hk) and the Sales of First-hand Residential Properties Electronic Platform (www.srpe.gov.hk) in accordance with the Residential Properties (First-hand Sales) Ordinance.
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To the extent that this press release constitutes an advertisement, this notice shall apply.
Name of the Development: eResidence Tower 3
Name of Street and Street Number of the Development: 2 Hok Yuen Street*
District: Hung Hom
The address of the website designated by the Vendor for the Development#: www.eresidencet3.hk
Vendor: Urban Renewal Authority | Holding Company of the Vendor: Not applicable | Authorized Person for the Development: Ms. Chan Wan Ming | The firm or corporation of which the Authorized Person for the Development is a proprietor, director or employee in his or her professional capacity : P&T Architects Limited | Building contractor for the Development: Build King Construction Limited | The firm of solicitors acting for the owner in relation to the sale of residential properties in the Development: Mayer Brown | 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 is 30 November 2026. (“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 for the Development is provided by the Authorized Person for the Development. The estimated material date is subject to any extension of time that is permitted under the agreement for sale and purchase.) | A prospective purchaser is advised to refer to the sales brochure for any information on the Development. Please refer to the sales brochure for details. *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. | This advertisement is published by the Vendor or with the consent of the Vendor. This advertisement does not constitute and shall not be construed as constituting any offer, representation, undertaking or warranty, whether express or implied, given by the Vendor.
Date of printing: 27 October 2023