The Housing Authority today announced the opening of applications for the Letting Scheme for Subsidised Sale Developments with Premium Unpaid (White Form) and the Flat for Flat Scheme for Elderly Owners, both designated to optimise existing housing resources and benefit eligible owners and applicants.

The pilot Letting Scheme, featuring a quota of 3,000 places, is a joint initiative by the Housing Authority and the Housing Society. Owners of subsidised sale flats (SSF) who have held their properties for 10 years or more, and have paid a letting permit fee, may let their flats with premium unpaid to applicants who meet the White Form eligibility criteria of the Home Ownership Scheme (HOS).

To be eligible for the letting scheme, a tenant must meet the prevailing White Form income and asset limits for the latest HOS exercise. In addition, neither the applicant nor any family members listed on the application may own domestic property in Hong Kong from 24 months before submission until the issuance of the Tenant Certificate (White Form).

Concurrently, the Flat for Flat Scheme for Elderly Owners permits elderly owners to sell their existing subsidised sale flat with premium unpaid in the secondary market, and purchase another secondary market flat with smaller saleable area or in a more remote area. The scheme facilitates SSF turnover and assists elderly residents in adjusting their assets to suit their retirement life and family needs.

To qualify for the scheme, owners must hold the title to a SSF with premium unpaid for at least 10 years, and all participating family members must be aged 60 or above. Furthermore, participants must not own any other domestic property in Hong Kong for 24 months prior to application and up to the signing of the provisional agreement for the new flat, and owners are required to secure a Trade Down Permit from the Housing Society prior to selling their original property.