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The following is issued on behalf of the Housing Authority:
The Housing Authority's Subsidised Housing Committee (SHC) today (May 17) endorsed the income and asset limits for White Form (WF) applicants for the sale of surplus Home Ownership Scheme (HOS) flats under Phase 6. The income limit for family applicants will be $27,000 per month and the asset limit will be $530,000.
These limits are determined according to the established methodology with the assumptions that the mortgage loan-to-price ratio is at 90% or 95% and down-payment expenditure is 10% of the flat price. In line with the established arrangement, the income and asset limits for one-person applicants will be set at half of the limits for family applicants, and will therefore be $13,500 per month for income limit and $265,000 for asset limit.
The determination of these limits has already taken into account the latest property market and economic conditions, and the views of the community, based on the established methodology. With the endorsed income and asset limits, it is estimated that there would be around 106,400 non-owner-occupied households in the private sector falling within the HOS eligibility net, who can be potential WF applicants.
Ends/Monday, May 17, 2010
Issued at HKT 17:36
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