New starter homes for sale at 78pc of market rate
Authorities on Tuesday said they are putting up new starter homes for sale, in To Kwa Wan. The eResidence Tower 3 on Chun Tin Street will provide 260 homes priced at 78 percent of the market rate. The flats, measuring between 300 and 600 square feet, cost between around HK$4 million and HK$9.6 million. Applications open on September 27 and will close on October 18. The Urban Renewal Authority said it opted for strengthened concrete and anti-corrosive materials, and the building's life span could be over 75 years if it is maintained properly. The means-tested starter home policy was rolled out for Hong Kong residents to buy their first flat at a lower price.