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Blueprint for dorms aimed at the young
The Standard
Tuesday, July 17, 2012

The administration plans to build dormitories for young people as part of a housing plan that Leung Chun-ying announced yesterday.

Singles aged 18 to 34 with a monthly income not exceeding HK$17,000 and two-member families earning less than HK$34,000 a month can apply.

Leung also insisted that his vow to sell homes to Hong Kong residents only remains in place, but the situation is not serious enough to resort to the measure yet.

He denied being pressured by developers to abandon the plan.

Leung said the government will earmark HK$1billion to subsidize nongovernment organizations to build young people's hostels, with the initial target set at 3,000 units.

The asset limit for singles would be HK$265,000 and for two- member families HK$530,000.

The rent should not exceed 60 percent of the market rent of similar flats in nearby areas. And applicants can only live there for five years.

The Federation of Youth Groups, Tung Wah Group of Hospitals and Girl Guides Association are among nongovernment organizations that have expressed interest in building such facilities.

Leung also said that tenants of units other than public housing can from next year buy Home Ownership Scheme flats in the secondary market without paying the land premium.

Housing chief Anthony Cheung Bing-leung said buyers will only pay the premium if they sell the flats in the open market.

It is aimed at families with monthly income of HK$30,000 or less and mainly first-time buyers.

On whether that will push up prices of second-hand HOS flats, Cheung said that depended on supply and demand.
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