The Housing Authority has announced the Green Form Subsidised Home Ownership Scheme will become regular.

The Subsidised Housing Committee endorsed regularising the scheme today after considering the outcome of the review on the scheme’s pilot project at King Tai Court, San Po Kong.

The authority said the pilot project indicates the scheme provides an alternative avenue for Green Form applicants to achieve home ownership and is conducive to enriching the housing ladder.

Given the “one-for-one” arrangement under the scheme, while it will not increase public housing supply, it will not reduce supply.

The scheme can meet the home ownership aspirations of Green Form buyers and address the housing needs of public housing applicants, the authority added.

The committee also endorsed the major implementation details of the regularised scheme.

They include making reference to the site selection criteria for the scheme’s pilot project, continuing with the pilot project’s eligibility criteria, adopting the simplified price setting mechanism, and rationalising the arrangements on recovering public housing units.

On the resale restrictions under the regularised scheme, the committee agreed more stringent resale restrictions should be imposed and felt more deliberations on the practical arrangements were needed.

In light of the committee’s view to implement the scheme at a more modest pace, the authority said it is reassessing the Fo Tan site and other options.

It added it will also proceed with the preparation work with a view to launching the sale of the scheme’s next project towards the end of the year.