The new ceilings will take effect on April 1.

That means the income limits will stay at existing levels and range from HK$12,940 to HK$37,180 for one-person to five-person families after deducting the actual amount contributed to the mandatory provident fund.

As for six-person and 10-person households, the limits will be increased to between HK$42,730 and HK$63,990.

Meanwhile, the asset limits will range from HK$278,000 to HK$917,000 for one-person to 10-person households following the 1.9 percent increase.

“As the local economy is gradually recovering from the impacts brought by the Covid-19 pandemic, and the livelihood of low-income families is still being seriously affected, the Subsidized Housing Committee considered that exceptional treatment continued to be justified in setting the 2023/24 PRH income limits,” a spokesman of the Housing Authority said.