IH announces residential prices in Zone A

The sale price of the 3,017 residential units in Zone A made available for the 2019 Economic Housing Scheme application round will be set at around MOP35,600, the Housing Bureau (IH) has announced.

The bureau has announced that average prices for Zone A public housing units range from MOP26,100 to MOP35,600 per square meter.

Residential units under the 2019 Economic Housing Scheme application round are about MOP35,600.

From 2021 and 2023, 10,669 Zone A residential units were offered for sale, with the average price per square meter being around MOP26,100.

The 2023 application process commenced late September last year, however the IH extended the application period by three months due to a lack of prospective buyers.

As of Feb. 1, according to IH data, 4,322 applications have been received for this round, accounting for only 80 percent of the units offered for sale.

Under the new 2020 rules, owners of the housing on sale are prohibited from selling their flats on the private market.

They can only resell their units to the government as purchased at the original rate.

Multiple policy changes occurred before the introduction of these rules. The period for which sale is banned once stood at six years but was later extended to 16 years, a strategy adopted to prevent housing speculation. Staff Reporter