RESIDENTIAL PROPERTY | Staff Reporter, Hong Kong

Housing Authority sets rents for two new estates

Over 67% of the flats will rent for less than $2,500 per month.

Rents have been set for two public rental housing estates that will be completed between July and December, the Housing Authority announced.

Rents for 3,505 flats in five non-standard blocks will be set at the best-rent levels of their respective districts.

The best monthly rent for the 2,639 flats in On Tai Estate in the urban district will be set at $77.80 per square metre, while that for the 866 flats in Kwai Tsui Estate in Kwai Chung district will be $75.20 per sq m.

Under this rent-fixing exercise, over 67% of the flats will rent for less than $2,500 per month.

Rents are heavily subsidised and are inclusive of rates, management fees and maintenance costs.

Those who cannot afford the new flats can request lower-rent refurbished flats or apply to the Rent Assistance Scheme, the authority said.

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