There is new news from the URA, the second phase of Huan Ran Yi Residence, which is currently the third block of Ma Tau Wai Road in To Kwa Wan, will accept applications on Wednesday (27th), a total of 260 units will be sold at a 78% discount, with a price ranging from 408.2 million to 964.2 million yuan. According to the sales book, all units have rooms, about half of which are two- to three-bedroom units, and are expected to close by the end of 2026 at the earliest.

Located at 2 Hok Yuen Street, To Kwa Wan, Phase 260 is the third block of Ever House and comprises a total of 125 units, including 108 one-bedroom units, 27 two-bedroom units and 303 three-bedroom units, ranging in size from approximately 600 to 18 square feet, and equipped with <> residential parking spaces and a clubhouse.

The second phase of Huanran Yiju will be pre-sold in September. (Profile picture)

Phase 78 will be sold at a 408% discount on the market price, with a price ranging from $964.12 million to $885.16 million and a price of $499,<> to $<>,<> per square foot.

According to the regulations, the owner cannot sell or lease the unit during the first five years of purchase; After the five-year lock-up period, the owner may sell or lease his flats in the open market after paying a premium to the URA, and the URA will not buy back the "first home" flats.

The second phase of Huan Ran Yi Ju is the third building of Huan Ran Yi Residence. (Photo by Su Weiran)

Huan Ran Yi Ju will open the form and accept applications from September 9 to October 27 at 10pm, with an application fee of $18. Applicants can choose to pick up the form in person or download it online. For submission of forms, you can also choose to submit them in person, online or by post.

The URA stated that it will receive and process the information submitted by applicants from September to October, and that it is expected to conduct computerized sorting by the end of November to determine the priority numbers of all applicants, and that applicants will be invited to meet in December for detailed review of applications and invite eligible applicants to select properties in order of priority. The authorities expect that the selection process will commence in March next year and is expected to move in on 9 November 10.

The second phase of Huan Ran Yi Ju is the third building of Huan Ran Yi Residence. (Photo by Su Weiran)

In terms of eligibility, one-person applicants can choose to purchase one-bedroom units that can be sold; Family applicants can purchase any of the one- to three-bedroom units available for sale, and the first home application criteria include:

1/ Eligible applicants must be aged 2023 or above on the closing date for application (i.e. 10 October 18) and have resided in Hong Kong for at least 18 years and are not subject to any conditions of stay (except for the conditions relating to the duration of stay)

2/ None of the applicant nor his family members named in the application form have ever owned a residential property in any form whatsoever, directly or indirectly, and have not been and are not enjoying housing subsidy from any government or related organisation; Such family members must also be immediate family members of the applicant and have lived with the applicant before the application deadline

3/ The gross income of one applicant is between $31,001 and $40,300 per month, while the gross income of family applicants is $62,001 to $80,600 per month.

4/ The total net asset value of one applicant does not exceed $956,000; The total net asset value of family applicants is capped at $1,911,000.

URA formulates an upgraded building maintenance manual based on the experience of Huan Ran Yi Ju in the third building Recommends to the government the new deed of mutual covenant for the third building of Huan Ran Yi Ju The URA sets a 10-year maintenance plan Note: Starting funds: URA's first purchase of To Kwa Wan is the third building, which will be pre-sold in September at the earliest, or sold at a market price of 9% off, and the second phase of Huan Ran Yi Ju is a pilot The URA promotes "preventive maintenance" to advocate the establishment of a maintenance plan