The scheme was launched in April 1998 to help citizens purchase their own homes. A grant of HK$18 billion was approved by the Legislative Council to provide housing loans of up to HK$600,000 each for 30,000 families. The loan scheme was extended in December 1999 to non-elderly single persons, each to be granted a loan of up to HK$300,000. The Housing Society acts as an agent for the Government in implementing and promoting the Scheme. It screened and processed applications, arranged for the granting of loans and is now handling repayment matters.
The scheme was closed in April 2002 and loans of more than HK$14.8 billion have been granted to over 33,000 families and single persons.
Last Updated: Dec 2014