Housing Authority approves 1.17pc rise in public housing rent with one-year rent waiver
The Housing Authority announced on Monday that it would grant a one-year rent holiday to tenants of public rental accommodation as well as a 1.17 per cent rent increase to take effect in October next year.
The announcement came after the Authority’s Subsidized Housing Committee approved the results of this year’s public rental housing rent review.
“The rent for public rental housing will be adjusted upward by 1.17% from October 1, 2022. The increase is about HK$26 per public rental household per month on average, and the monthly adjustment range ranges from 5 to 66 HK dollars. according to a Housing Authority spokesperson.
The committee has decided to grant a one-year rent waiver to tenants in view of the impact of the Covid-19 pandemic and after balancing tenant affordability with the sound and sustainable development of the city’s finances. authority.
The special relief measure will result in a total of HK$262 million in lost rental income in 2022-23 and 2023-24 for the Housing Authority.
The Authority said it will notify all tenants of public rental accommodation in writing one month before the date of implementation of the new rent. The rent adjustment will take effect from October 1, 2022.