Sandwich Class Housing Scheme
The Sandwich Class Housing Scheme (夾心階層住屋計劃) was a scheme from the Hong Kong Housing Society offering apartments to middle-income families, i.e. sandwich class, at concessionary prices during the 1990s in Hong Kong. The purchases were subject to a five-year resale restriction. The first development, Tivoli Garden,[1] was completed in 1995, and was followed by 12 other developments. In total, more than 12,000 units were offered.[2]
Developments
The housing estates built under the scheme were:[2] (number of apartments and year of completion into brackets)
- Park Belvedere (雅景臺), Ma On Shan (882 - 1998)
- Sunshine Grove (晴碧花園), Sha Tin (508 - 1998)
- The Pinnacle (叠翠軒), Tseung Kwan O (1,424 - 1999)
- Tivoli Garden(宏福花園), Tsing Yi (1,024 - 1995)
- Hibiscus Park (芊紅居), Kwai Chung (420 - 1998)[3]
- Marina Habitat (悅海華庭), Ap Lei Chau (992 - 1998)[3]
- Bel Air Heights (悅庭軒), Diamond Hill (798 - 1999)
- Cascades (欣圖軒), Ho Man Tin (712 - 1999)
- Highland Park (浩景臺), Kwai Chung (1,456 - 1999)
Three developments were converted into private properties for sale at full market values:[2]
- Cayman Rise, Kennedy Town
- Radiant Towers (旭輝臺) Tseung Kwan O (704 - 1999)[4]
- Mountain Shore, Ma On Shan (2002)
- Serenity Place, Tseung Kwan O (2003)
Sales
Demand for Sandwich Class Housing apartments was generally high. For example, in 1996, the Hong Kong Housing Society received 6,520 applications for the sale of a batch of 1,696 units in Radiant Towers and Marina Habitat. This level of applications was a 40% increase in comparison to those for Park Belvedere and Tivoli Gardens, in 1995 and 1994 respectively.[5]
In the case of several projects, following a Government policy to suspend the sale of the subsidized flats in September 2001, not all units were sold under the initial Sandwich Class Housing Scheme. These projects include: Marina Habitat, The Pinnacle, Highland Park and Cascades.[3]
All units of Mountain Shore were initially sold within 9 hours in April 2002 at an average price of HK$2,900 per sq. ft.[6]
References
- ↑ Hong Kong Housing Society - 1995 - Tivoli Garden
- ↑ 2.0 2.1 2.2 Hong Kong Housing Society - Sandwich Class Housing Scheme
- ↑ 3.0 3.1 3.2 Second mortgage loan arrangement for Sandwich Class Housing Scheme Owners
- ↑ Sandwich Class Housing Scheme Hong Kong Housing Society - Properties Under Management
- ↑ The Standard: "Society shrugs off flats complaints", August 24, 1996
- ↑ Emporis - Mountain Shore
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