"Timely review for new subsidised flats pilot scheme"
Lawmakers said on Tuesday the administration may consider diversifying the discount rate, or modifying applicant eligibility criteria for subsidised flats. That came after the Housing Secretary, Winnie Ho, announced a pilot scheme to speed up subsidised housing supply by inviting private developers to build flats on government sites and to rezone their land banks for building subsidised homes. All flats under the scheme would be sold at a 35 percent discount to the market price. "Those who are willing to pay a little bit more for higher quality, even pay for a clubhouse, the discount rate may not be so high. For those who really care about cost efficiency ... then the discount rate may be higher, so I think it may allow [for] a little bit of flexibility," lawmaker Wendy Hong said. She told RTHK the discount rate is one of the major concerns for property developers. Hong, who is also the head of research at New World Development, said she doesn't expect the projects under the pilot scheme will have much impact on subsidised housing supply in the short term. But she said she believes homes built by private developers under the scheme will definitely be more attractive than those offered by the Housing Authority. The deputy chairman of Legco's housing panel, Leung Man-kwong, for his part, said as long as the plan does not allow developers to earn huge profits and ensures the quality of the units meets people's expectations, it won't create a perception of giving "obvious benefits" to developers. He said authorities should review the pilot scheme in a timely manner and consider revising the eligibility criteria for applications for these flats in future, providing more affordable housing for different groups of Hongkongers. The housing panel will discuss the pilot scheme on the 3rd of next month.