Midland: The quota for Bai Ju Er has increased, and it is expected that the transaction volume in the secondary market for subsidized housing and public housing will challenge 5,000 cases next year

According to data from the Midland Property Research Center and the Housing Authority, the total number of transactions in the secondary market for subsidized housing and public housing (without premium) recorded 2,261 transactions in the first eight months of this year. It is expected that the Housing Authority will issue approval letters to successful applicants of the "White Form Secondary Market Scheme 2024" in the third or fourth quarter of this year, involving 6,000 quotas. It is anticipated that the secondary market transactions will surge in the coming months driven by buyers of the White Form Scheme, and the total for the year is expected to match last year's level.

Midland Property analyst Sam Cheng pointed out that the new Policy Address states that to increase the opportunities for white form applicants to purchase subsidized sale flats in the secondary market, the Housing Authority will increase the quota by 1,000 to a total of 7,000 from the next phase of the White Form Scheme. To avoid wastage of the quotas, the number of approval letters issued by the Housing Authority will be slightly greater than the quotas for the White Form Scheme, and it is believed that these measures will stimulate transaction volume in the secondary market. It is expected that the transaction volume in the secondary market for subsidized housing and public housing will further challenge 5,000 transactions next year, setting a new high since the launch of the "White Form Scheme" in 2013.

If we categorize the 2,261 transactions in the secondary market in the first eight months of this year by subsidized housing and public housing, the secondary market for subsidized housing recorded 1,675 transactions, accounting for about 74.1%. In terms of subsidized housing alone, the highest transaction volume in the first eight months of this year was recorded in Tin Shui Wai's Tin Shing Court and Tin Song Court, both with 44 transactions, with average transaction amounts of approximately HKD 4.04 million and HKD 3.45 million respectively; closely followed by Yuchui Court in Sha Tin, which recorded 39 transactions, with an average transaction amount of approximately HKD 5.41 million.

As for the public housing secondary market in the first eight months of this year, it recorded 586 transactions, accounting for about 25.9%. Among them, Li Cheng Uk and Cheung On Estate in Sham Shui Po both topped the list with 29 transactions, with average transaction amounts of approximately HKD 1.88 million and HKD 2.11 million respectively; followed closely by Tung Tau (II) Estate in Wong Tai Sin with 28 transactions, with an average transaction amount of approximately HKD 2.01 million