The Housing Authority will begin selling 1226 new Home Ownership Scheme (HOS) apartments in Tung Chung from the end of March.
The Yu Tai Court apartments, still under construction, will cost on average below HK$7000 per square foot – a 30% discount to the market price, according to HK01.
By comparison, the average sale price of the last ten transactions at Coastal Skyline, Caribbean Coast and Seaview Crescent was HK$8323, figures from squarefoot.com.hk show.
Most of the Yu Tai Court flats are small, with saleable area ranging from 277 square feet to 571 square feet. About 1,000 are below 430 square feet.
The apartments, at the corner of Yu Tung and Chung Yan roads, opposite the North Lantau Hospital, won’t be ready until at least 2020.
They are part of a batch of 4,400 HOS apartments being offered for sale at the end of March.