"The Green" project aims to provide Hong Kong citizens with more housing choices while improving their living conditions. Embracing a minimalist balanced living concept, it adheres to the principle of "practicality without extravagance," meeting citizens' housing needs and offering comfortable living spaces.

Notably, the launch of "The Green" aligns with the Hong Kong government's long-term housing strategy, striving to balance the supply of public and private housing to meet the diverse needs of citizens.

Despite the ongoing decline in private residential prices and a subdued market atmosphere, the government believes that subsidized housing projects can offer more residential choices for Hong Kong citizens and, to some extent, alleviate housing issues. However, the prices of these projects remain relatively high and cannot completely solve the housing problems faced by citizens.

The household income cap for buyers will be set according to the Housing Authority's regulations, with a cap of HKD 62,000 for family income and HKD 31,000 for single applicants. Specific application details, including discount rates and quota proportions for different applicant categories, will be announced next week.

In addition, "The Green" has reached agreements with 16 banks, allowing buyers to obtain mortgages of up to 90% of the property's value, providing more convenience for eligible families in purchasing a home.

While the launch of "The Green" brings new hope to Hong Kong's housing market, addressing the city's housing issues requires continuous efforts. High property prices and lengthy waits for public housing quotas make it challenging for many to own their homes.

Therefore, the government and the Housing Authority need to persist in launching more subsidized housing projects and optimizing quota allocation mechanisms to meet the housing needs of citizens.

In recent years, subsidized home sales projects have become an integral part of Hong Kong's residential market, partially easing the city's housing challenges.

As the primary partner of the government, the Hong Kong Housing Authority has been consistently working to offer more subsidized housing choices. The construction and launch of "The Green" project signify the ongoing efforts of the Hong Kong government and the Housing Authority in addressing housing issues.