Subsidised Sale Flat (SSF) Scheme Units
Subsidised Sale Flat (SSF) Scheme Units
The URA supports the policy initiative by the Chief Executive to increase the supply of subsidised sale flats as announced in the 2015 Policy Address. A total of 338 flats at Kai Tak development have been allocated for the purpose of subsidised sale flats.
SSF Scheme Units range from 332 square feet to 568 square feet in saleable area, comprising eight studio flats, 213 one-bedroom and 117 two-bedroom units. The price list of all the SSF Scheme units is set after a 20% discount to the market value of the units, assessed with a valuation date of 18 December 2015.
The URA received a total of 12,642 preliminarily verified applications for the SSF Scheme during the application period which expired at January 2016, of which 3,068 were confirmed eligible applicants (2,102 single person applicants and 966 family applicants).
Another valuation had been conducted on 18 March 2016 and 18 April 2016 to ascertain the discount percentage, which is approximately 14%, based on which the premium should be payable to URA on subsequent sale in the open market by these SSF owners.
The URA has commenced the sale of flats under SSF Scheme since 5 April 2016 by inviting these eligible applicants in batches for flat selection and purchase according to their priority determined by computer ballot. About 166 single person applicants and 156 family applicants have made the flat selection and purchase. Under the SSF Scheme, single person applicants are restricted to purchase studio or one-bedroom units only.
These 322 sold SSF Scheme flats have been handed over to purchasers since July 2016. On June 2016, the URA Board decided on the appropriate disposal arrangement for the 16 unsold SSF flats, for sale at the market price in the open market after 31 December 2016.
(Flat sale under SSF Scheme at Kai Tak development was closed on 20 May 2016.)
Related Application
Lifting of Resale Restrictions (Premium Assessment Arrangement)