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Wednesday, Apr 17, 2024
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Housing Authority approves 1.17pc public housing rent hike with one-year rent waiver
The Housing Authority announced on Monday that it will provide a one-year rent waiver for public rental housing tenants along with a 1.17 percent rent increase that will take effect in October next year.
The announcement came after the authority's Subsidised Housing Committee endorsed the outcome of this year’s public rental housing rent review.
“Public rental housing rent will be adjusted upwards by 1.17 percent with effect from October 1, 2022. The increase is about HK$26 per public rental housing household per month on average, and the range of monthly adjustment is from HK$5 to HK$66,” according to a Housing Authority spokesman.
The committee decided to provide a one-year rent waiver to tenants in view of the Covid-19 pandemic’s impact and after balancing the tenants’ affordability and the healthy and sustainable development of the authority’s finance.
The special relief measure will result in a total of HK$262 million of rental income foregone in 2022-23 and 2023-24 for the Housing Authority.
The Authority said it will notify all public rental housing tenants in writing one month before the implementation date of the new rent. The rent adjustment will take effect from October 1, 2022.
“Public rental housing rent will be adjusted upwards by 1.17 percent with effect from October 1, 2022. The increase is about HK$26 per public rental housing household per month on average, and the range of monthly adjustment is from HK$5 to HK$66,” according to a Housing Authority spokesman.
The committee decided to provide a one-year rent waiver to tenants in view of the Covid-19 pandemic’s impact and after balancing the tenants’ affordability and the healthy and sustainable development of the authority’s finance.
The special relief measure will result in a total of HK$262 million of rental income foregone in 2022-23 and 2023-24 for the Housing Authority.
The Authority said it will notify all public rental housing tenants in writing one month before the implementation date of the new rent. The rent adjustment will take effect from October 1, 2022.
