HA to pass on rates concession to tenants for Q1 2024-25

It will run from April to June this year.

The Hong Kong Housing Authority (HA) will pass on the rates concession for the first quarter of 2024-25 to the domestic and non-domestic tenants starting in April.

In a statement, an HA spokesman said the rates concession for domestic tenants will be imposed every month for three months ending in June by offsetting the equivalent amount of the monthly rent they should pay, with a $1,000 ceiling for each rateable property.

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Meanwhile, rate concessions for the period on non-domestic properties excluding car parks will be passed on to the non-domestic tenants/licensees on a “no loss, no gain” principle.

Their monthly rates from April to June will be waived subject to a ceiling of $1,000 for each rateable non-domestic property.

Overall, $590m will be passed on to domestic tenants, whilst $8.4m for non-domestic tenants.

Meanwhile, operators of HA's 18 single-operator markets, namely Ching Long, Choi Fook, Chun Yeung, Hoi Tat, Hung Fuk, Kwai Chung, Lei Muk Shue, Mun Tung, On Tai, Pak Tin, Queens Hill, Shek Mun, Shui Chuen O, Tin Yan, Yan Tin, Ying Tung, Kai Chuen and Ping Yan, will also pass on the rates concession to their licensees in full.