WEDNESDAY, MAY 8, 1991
1
NEW SCHEME TO PROVIDE HOME OWNERSHIP OPPORTUNITY
WITH
TENANTS PROPOSED BY
AN OPPORTUNITY
THE
THE SALE OF RENTAL FLATS TO SITTING
MANY FAMILIES HOUSING AUTHORITY WOULD PROVIDE THEY WOULD NOT OTHERWISE HAVE TO OWN THEIR HOME AFFAIRS, THE HON PETER TSAO, SAID TODAY (WEDNESDAY).
HOME, THE SECRETARY FOR
THE
IN
PROPOSED SCHEME HOME OWNERSHIP WAS OF GREAT AND ENGENDERING SOCIAL BELONGING OF
WINDING UP THE ADJOURNMENT DERATE ON THE LEGISLATIVE COUNCIL, MR TSAO SAID
SENSE BENEFIT IN FOSTERING A STABILITY AND SHARED PROSPERITY.
THE HON MR TSAQ REJECTED AS "PATENT NONSENSE" AN ASSERTION BY
FORCED OR COMPELLED TO KINGSLEY SIT THAT AFFECTED TENANTS WOULD BE PURCHASE FLATS UNDER THIS SCHEME.
"IT IS A MATTER OF CHOICE NOT COMPULSION," HE STRESSED.
THE SCHEME, MR
TSAO
ADDED, WILL
BE
PUT TO
THE EXECUTIVE
COUNCIL FOR APPROVED.
LETTERS
ΤΟ TENANTS
BE SHOULD
ISSUED
HE ALSO SAID OFFER TOWARDS THE END OF JULY THIS YEAR.
"THIS SHOULD ENABLE THE FIRST PHASE OF THE SALES BE COMPLETED BY THE END OF THE CURRENT FINANCIAL YEAR,
PROGRAMME ΤΟ
"
HE SAID.
PRICE WOULD BE
OF
BLOCK, THE
AND SYSTEM
LACK OTHER
ON THE PRICING FORMULA, MR TSAO SAID A MARKET DETERMINED, WITH DUE ALLOWANCE MADE FOR THE LESS ATTRACTIVE DESIGN THE RENTAL BLOCK COMPARED WITH A PURPOSE-BUILT SALE OF UPGRADING OF THE PLASTERING, FACILITIES, AND THE AGE OF THE BLOCK.
WIRING,
SECURITY
HOME OWNERSHIP
PRICE SELLING
UNDER COMMITTEE HOC
HE SAID A SIMILAR DISCOUNT TO THAT GIVEN UNDER SCHEME (HOS) SALES WOULD BE APPLIED TO PRODUCE THE RECOMMENDED IN A REPORT BY A HOUSING AUTHORITY.
SPECIAL AD
AS THE
IN THE PRIVATE "THE LEVEL OF DISCOUNT FROM A COMPARABLE FLAT
HOS SALES, THOUGH SECTOR HAS BEEN AT 30 PER CENT IN MOST RECENT
WITHIN MORE FLATS ΤΟ HAVE ORDER IN VARIED TIMES HAS AT AFFORDABILITY RANGE OF LESS WELL-OFF FAMILIES.
IT
THE
"THE HOUSING AUTHORITY SUGGESTED THAT
SPECIAL
CENT WOULD TAKE ACCOUNT OF THE PRODUCE MORE AFFORDABLE PRICES," MR TSAO SAID.
A
NATURE
OF DISCOUNT OF THESE SALES
40
PER
AND
TENANTS ΤΟ SALE,
ON SUGGESTIONS THAT IT WOULD BE UNFAIR FOR SITTING BE GIVEN A GREATER DISCOUNT THAN WOULD NORMALLY APPLY UNDER HOS
THAT
TWO SCHEMES THE MR TSAO SAID THE HOUSING AUTHORITY FELT DIFFERENT IN NATURE AND IN THE TARGET GROUP WHICH THEY AIMED TO REACH.
WERE
•
BROADER RANGE OF PUBLIC "THE PRESENT SCHEME AJMS TO REACH A HOUSING TENANTS, INCLUDING THOSE OR AVERAGE ON BELOW-AVERAGE INCOMES, MR TSAO SAID.
/IN REPLY
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