Gov’t tender of the first Private Subsidised Sale Flats – Pilot Scheme (Private SSFs / 樂建居) at CWIL185 was closed on 19 July. This project would yield over 700 homes which would be sold at 65% of the market price to HOS eligible buyers upon completion. Though the project is walkable from Chai Wan MTR station on HK Island, only one bid was received.
Our Senior Director Alex Leung estimated the market value of the site being in the region of HK$1,300 to 1,400 psf based on plot ratio of 9.0. He suggests the govt to allow pre-sale arrangement for Private SSFs at the will of developers in order to increase the attractiveness.
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