Public housing tenants face 10% rent increases
Public housing tenants face a 10 percent increase in their rent, under a Housing Authority plan presented to Legco on Monday. The authority said the increases will range from HK$49 to HK$572 per month, with the average amount at HK$230. It slated October 1 as the date for the rises, but proposed a three-month exemption period meaning many tenants wouldn't pay any extra before January 2025.  The authority said "well-off tenants" with income or assets exceeding certain thresholds would not be eligible for the exemption. Speaking to reporters, Secretary for Housing Winnie Ho said the proposed rises would be affordable for tenants, with about 60 percent of them seeing a monthly increase of HK$250 or less. "For people who truly need help, we already have mechanisms in place to assist them. As for other tenants, we believe that an increase of HK$250 in monthly rents is affordable for them. This decision takes into account various considerations. We need to respect the mechanisms under our housing regulations," she said. The authority estimated that the proposed rent increases would generate additional revenue of around HK$2.3 billion per year. While the three-month waiver will cost the government HK$575 million in this financial year, the revenue increase would help narrow the authority's expected deficit to HK$591 million. Federation of Trade Unions lawmaker Bill Tang said poorer tenants would find the higher rents unaffordable. "A majority of the grassroots class are living in public housing, especially the families who are only elderly or live alone. I mean the elderly just received a welfare (payment). So there's definitely no other choice and there's no opportunity to increase the income. For the grassroots class, especially the elderly family, that is not good news," he said. The authority reviews public housing rents every two years, with increases capped at 10 percent._____________________________
Last updated: 2024-07-08 HKT 18:47 