Upcoming public flat rent hike to be affordable: govt
Permanent Secretary for Housing Rosanna Law on Saturday said the rent hike for public flats won't exceed 10 percent, and she believes it'll be still affordable for residents. The government conducts a public housing rent review every two years, and bases any change on an income index. The next rent review will be conducted in the middle of this year. Speaking on a television programme, Law said the government had to be prudent when it came to finances. "The average rent is about HK$2,200, but the rent for about 40 percent of flats is below HK$2,000 - and some tenants only have to pay a few hundred dollars each month," she said. "Even if the rent hike reaches 10 percent, it's about HK$100 to HK$200 more, or lower than that. We have many large-scale housing projects and a lot of refurbishment work. We have to act with more fiscal prudence." The rent hike for public flats was 1.17 percent in 2022. Law also said under a declaration scheme to combat the abuse of public housing, she expects to retract about 2,200 flats this year, which include two tenants who failed to declare that they have assets on the mainland.