Home Ownership Scheme

The Home Ownership Scheme (HOS), managed by the Hong Kong Housing Authority, is a regular program of the sale of newly developed subsidized homes. These HOS flats are sold at a deep market rate discount, offering a pathway for green and white form status holder to becoming homeowners. The program accepts applications from around May to June every year. White form applicants will have to meet maximum income restrictions announced prior to the sale.

Home Ownership Scheme flats generally feature a practical design of rooms that feel a lot roomier than a significant number of private housing, with good transport networks and a multitude of facilities nearby to boot. New HOS flats are very limited and snapped up quickly by eager eligible buyers every year, so those who are interested may have to consider second-hand options as a backup.

The general public can buy previously lived-in HOS flats in the open market as long as a premium is paid to the government. Searchers can look for whether the premium has been paid in the listings. The premium is calculated by applying the original discount of the purchase price to the current market value.

For green form status holders and white form status holders who meet additional requirements, there is also the White Form Secondary Market Scheme (WSM). Successful applicants can buy designated second-hand HOS flats without paying premiums through this scheme.

Home Ownership Scheme homebuyers can take out a 90% to 90% mortgage for up to 25 to 30 years using prime based plans, depending on the form status, remaining guarantee period, and whether the premium has been paid. Prospective buyers of new HOS flats are not required to pass the stress test.