A “Starter Homes” scheme that aims to help middle class first-time homebuyers will be launched next year, with a site in Kwun Tong to be used to develop the first batch of the new subsidized homes.
According to Chief Executive Carrie Lam’s policy address Wednesday, the pilot scheme will kick off by the end of 2018 through the use of an Anderson Road site that is part of the government’s land sale program.
The project will provide about 1,000 residential units.
The upper income limit for the new scheme for eligible buyers will be set at HK$34,000 a month for single people and at HK$68,000 for households with two or more members.
Details of the scheme will be finalized before a further announcement is made in mid-2018.
Lam reiterated in her speech that home supply under the new scheme will be provided only on the premise that the existing supply of public housing will not be affected.
“It now appears that the land supply for Starter Homes will have to come from sites already owned by private developers or to be bought from the government,” said Lam, adding that authorities will consider incorporating provisions into the land lease to require developers to pursue mixed developments.
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