XN000022-1993-03-16 — Page 4

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3

TUESDAY, MARCH 16, 1993

MARKET $700,000 то

"IT MEANS THAT AN HOS FLAT VALUED AT $2 MILLION ON THE WILL BE SOLD TO A SUCCESSFUL APPLICANT AT A DISCOUNT OF $900,000,"

RESTRICTIONS DISCOURAGING

"OF COURSE, HOS HOME BUYERS ARE SUBJECT TO RESALE FOR THE PURPOSES OF PROTECTING THE SUBSIDY AND SPECULATION. THE SAME PRINCIPLE WILL APPLY TO THE SANDWICH CLASS HOUSING SCHEME."

MR EASON SAID THE INTERIM SCHEME WILL BE IMPLEMENTED AT A PACE TO AVOID PUSHING UP PROPERTY PRICES.

"WE WILL REVIEW THE SCHEME INCLUDING THE NUMBER OF FLATS AVAILABLE AFTER THE INITIAL PHASE IS LAUNCHED LATER THIS YEAR.

BE

11 HE

"DEPENDING ON THE SUBSIDY LEVEL TO BE WORKED OUT, THERE MAY SCOPE TO EXTEND THE INTERIM SCHEME TO MORE ELIGIBLE HOME BUYERS, SAID.

ON HAVE PHASE 1993-94 LAND COMMISSION.

THE

LONG-TERM SCHEME, MR EASON SAID SITES BEEN IDENTIFIED AND HAVE BEEN INCLUDED

DISPOSAL PROGRAMMME

CONSIDERATION

FOR

IN

FOR

THE FIRST THE PROPOSED BY THE

LAND

"IT REMAINS OUR AIM TO COMPLETE THE FIRST 5,000 FLATS FOR SALE BY 1996-97.

PURPOSE-BUILT

"HOME BUYERS OF THE LONG-TERM SCHEME WILL BENEFIT FROM CONCESSIONARY PREMIA FOR THE SITES WHICH ARE EXPECTED TO BE GRANTED AT HALF OF THE FULI, MARKET VALUE, THE SAME AS THAT FOR HOUSING EXISTING FLATS-FOR-SALE SCHEME.

SOCIETY'S

MR

EMPHASISED EASON

OF THAT THE FUNDAMENTAL PRINCIPLE HOUSING PROGRAMME PUBLIC

IS THAT WE SHOULD TRY

MEET DIFFERENT

HOUSING NEEDS OF DIFFERENT GROUPS.

THE

ΤΟ

"IT IS UNDER THIS BROAD PRINCIPLE THAT VARIOUS FORMS OF HOUSING PURCHASE ASSISTANCE, SUCH AS PUBLIC RENTAL FLATS, HOS FLATS AND HOME LOANS, ARE MADE AVAILABLE TO THE PUBLIC.

"THE

OF

MIDDLE-

MR

EXTENSION SANDWICH CLASS HOUSING SCHEME IS A FURTHER THE ASSISTED HOUSING PROGRAMME TO CATER FOR THE NEEDS OF THE INCOME GROUP WHO HAVE BEEN CONTRIBUTING SO MUCH TO HK'S SUCCESS," EASON SAID.

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