Some New HOS Flats To Go For Less Than HK$1mn

As Hong Kong home prices march upwards once again, officials have announced that the most expensive at a subsidised housing project in Cheung Sha Wan will be just over HK$3 million, but with a small number going for under HK$1 million.

The project by the Housing Authority on Tonkin Street covers four blocks and is earmarked for public rental housing tenants who want to own their homes.

Of the more than 2,500 flats available, seven of them are priced at between HK$930,000 and HK$990,000. They are all on the lower floors and are 188 square feet in size.

The most expensive unit is priced at HK$3.06 million. It's a 450-square-foot flat on the 38th floor, facing east.

This is the first time that the authority has unveiled a price list for individual units.

Its sales brochure notes that some of the units overlook a cemetery. But that is not enough to put off at least some of those selected for the flats by ballot.

"More than 400 square feet about HK$3 million ... that's the sort of flat I'm thinking of," one man told RTHK. "Of course it's expensive but given the 58-percent discount, that's ok... affordable," he said.

Meanwhile, another perspective buyer told RTHK that the location is very convenient and attractive. "I have lived in public rental units for many years and I can easily afford a flat in this project,” she said. “Overlooking a cemetery... never mind! That's very common!"

Those chosen for the flats will be able to pick the unit they want from next Thursday, and they can move in from September.