A Guide to the Green Form Subsidised Home Ownership Scheme (GSH 2024)

28Hse Editor  8 hours ago posted  8.9K #Wed Property Focus

The Green Form Subsidised Home Ownership Scheme (GSH) has been a regular initiative since 2018, designed to help public rental housing (PRH) tenants purchase affordable housing while speeding up the turnover of PRH units. The latest GSH scheme opened for applications on July 17, 2024. Below is a summary of its key details.

This year, the highlight of the scheme is Wang Chi Court in Kowloon Bay. The development consists of three residential buildings, providing a total of 2,576 flats. The units range in size from 193 to 466 square feet, focusing on medium to large flats. These units are sold at 40% off market prices, with prices ranging from HK$1.15 million to HK$3.49 million and an average price of HK$6,740 per square foot.

In addition to new units, GSH 2024 also includes 147 resale flats across four estates: Kai Chuen Court in Diamond Hill, Ko Wang Court in Yau Tong, Kam Pak Court in Ma On Shan, and Ching Tao Court in Fanling. The average price per square foot for these units ranges from HK$5,180 to HK$6,800. Flats returned under the Tenants Purchase Scheme are also available for selection.

Priority for flat selection is given to specific groups. PRH tenants affected by the Housing Authority’s demolition plan, such as those in Wah On House Wah Fu Estate or Wah Lok Building, will be prioritised if they choose to purchase GSH flats instead of transferring to other PRH units. 

Families with elderly members or newborns will have priority under the Elderly Priority Flat Selection Scheme and Newborn Priority Flat Selection Scheme, with a quota of 1,050 flats reserved. After this quota is filled, other family applicants will be invited to select flats. Single applicants are also allocated a quota of 250 flats. 

To encourage participation, applicants who unsuccessfully applied for GSH in both 2022 and 2023 will be given an extra ballot number to increase their chances of success. 

Applications are open to eligible Green Form applicants from 8:00AM on July 17 to 7:00PM on August 6. The application fee is HK$290, and the ballot draw is expected to take place in Q3 or Q4 of 2024, with flat selection starting in Q4 2024.

Interested applicants can choose to apply either online or using a paper form. For online applications, the process must be completed, including payment of the application fee via credit card, before the deadline. For paper applications, forms can be submitted by mail or in person.

The submission process varies depending on the type of applicant. Public rental housing (PRH) tenants must submit their application forms to their estate office or tenancy management office for eligibility verification. Once verified, the forms will be forwarded to the GSH Sales Unit. For Housing Society rental estate tenants, the forms should first be submitted to their respective estate office for verification. After the estate office signs off on the application, the applicant must personally deliver the form to the GSH Sales Unit.

Applicants must ensure they do not submit duplicate applications. Common mistakes include submitting both online and paper applications, listing the same household members on multiple applications, or couples submitting separate applications. Duplicate applications will be voided, and the application fee will not be refunded. Therefore, applicants should carefully review their submissions to ensure compliance.

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Disclaimer: All wordings and pictures which indicated 28HSE editor are the copyright of 28HSE LIMITED. Acknowledgement is required if other parts of this publication are used. The content is for reference only, does not constitute investment advice and it does not mean that 28HSE agreed the points. The area which show in the article is salable area if there is no special circumstances. The pictures is for reference also.

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