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RESIDENTIAL PROPERTY | Staff Reporter, Hong Kong

Public housing rents set for three new estates

Nearly half of the available flats go for below $2,500 monthly.

The Housing Authority has set best rent levels for three public rental housing (PRH) estates covering 1,753 flats, according to a government statement. 

The rents would come inclusive of rates, management fees and maintenance costs.

Also read: Waiting time for public housing hits 18-year high

The best rent for flats in the Urban District will be adjusted to $85.50 psm monthly. This rate will apply to 518 flats in one block in Yau Lai Estate in Kwun Tong (Eastern Harbour Crossing Site, Phase 7) and 487 flats in two blocks in Shek Kip Mei Estate in Sham Shui Po.

The best rent at $82.70 psm monthly for flats in Sha Tin District after adjustment in September will apply to 748 flats in one block in Shek Mun Estate.

"Under this rent-fixing exercise, over 46% of the flats are set at a rent level below $2,500 per month," an HA spokesperson said in a statement.

The spokesperson added that PRH applicants who cannot afford the rents may apply for assistance under the Rent Assistance Scheme for flats in older block types.

Rents for public housing in Hong Kong are set to increase by 10% from September after a report suggested that residents have higher incomes to absorb steeper rental costs.  

The commissioner’s report showed the income index of 2017 was almost 12% higher than three years ago, prompting the HA to adjust public housing rent levels by the change rate of the income index, with the increase capped at 10%.

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