Tenants Purchase Scheme (TPS) is a scheme which allows tenants in

public housing estate Public housing, also known as social housing, refers to Subsidized housing, subsidized or affordable housing provided in buildings that are usually owned and managed by local government, central government, nonprofit organizations or a ...

s under the

Hong Kong Housing Authority The Hong Kong Housing Authority (HA) is the main provider of public housing in Hong Kong. It was established in April 1973 under the Housing Ordinance and is an government agency, agency of the Government of Hong Kong. In the same year, the R ...

to purchase their flats. The price is set to be much lower than the market prices of private flats and Home Ownership Scheme (HOS) owing to the age of flats and restriction on selling.

History

The Scheme was announced in 1997 and formally launched a year later. It provided an opportunity for at least 250,000 public housing tenants to acquire their flats at affordable prices over a ten-year period with the ultimate aim of achieving 70% home ownership by 2007. In November 2002, in response to a weak property market which was allegedly being distorted by public housing sales schemes, it was decided to terminate the TPSStephen Brown
Shackles off ... it's time for real reform
, The Standard, 14 November 2002 after the sale of the five estates under Phase 6B. The suspension of the HOS was announced at the same time. In June 2004, phase 6A was announced for a total of about 25,000 units: the authority would sell 5,100 flats in Cheung Wah Estate in

Fanling Fanling ( zh, t=粉嶺; also spelled Fan Ling or Fan Leng) is a town in the New Territories East of Hong Kong. Administratively, it is part of the North District. Fanling Town is the main settlement of the Fanling area. The name Fanling is ...

in June; flats in Lei Tung Estate,

Po Lam Estate Po Lam Estate () is a mixed Tenants Purchase Scheme, TPS and public housing estate in Tseung Kwan O, New Territories, Hong Kong, near Metro City (Hong Kong), Metro City and MTR Po Lam station. It is the first public housing estate in Tseung Kwan ...

and Shan King Estate will be sold in stages by the end of 2004.25,000 HA flats up for sale, but no more loans
, The Standard, 3 June 2004 In May 2005, the Government announced the estates which would be in 6B, the final phase of the Tenants Purchase Scheme. 23,451 flats under the Housing Authority, comprising Cheung Fat Estate in

Tsing Yi Tsing Yi (), sometimes referred to as Tsing Yi Island, is an island in the New Territories of Hong Kong, to the northwest of Hong Kong Island and south of Tsuen Wan. With an area of , the island has been extended drastically by reclamation alo ...

, Fu Shin Estate in

Tai Po Tai Po is an List of areas of Hong Kong, area in the New Territories of Hong Kong. It refers to the vicinity of the traditional market towns in the area presently known as Tai Po Old Market or Tai Po Kau Hui () (the original "Tai Po Mark ...

, Long Ping Estate in

Yuen Long Yuen Long is a town in the western New Territories, Hong Kong. To its west lie Hung Shui Kiu (), Tin Shui Wai, Lau Fau Shan and Ha Tsuen, to the south Shap Pat Heung and Tai Tong, to the east Au Tau and Kam Tin (), and to the north Nam Sang Wa ...

, Nam Cheong Estate in

Sham Shui Po Sham Shui Po () is an area of Kowloon, Hong Kong, situated in the northwestern part of the Kowloon Peninsula, north of Tai Kok Tsui, east of Cheung Sha Wan and south of Shek Kip Mei (). It is located in and is the namesake of the Sham Shui ...

, and Tsui Lam Estate in

Tseung Kwan O Tseung Kwan O New Town, commonly known as Tseung Kwan O ( zh, t=將軍澳新市鎮, j=Zoeng1 gwan1 ou3 san1 si5 zan3), is one of the nine New towns of Hong Kong, new towns in Hong Kong, built mainly on Land reclamation in Hong Kong, reclaimed ...

would be set for sale by the end of 2006.Michael Ng
23,000 flats to go in final estate sale
The Standard, May 12, 2005

References

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History

See also

References