Housing Authority has announced a rate reduction
  • March 29, 2023
  • Team Hongkong Journalist
  • 0

The Housing Authority announced a rate cut for domestic and non-domestic renters beginning in April for the first two quarters of 2023–2024.

In a statement, the housing authority stated that it will be included in the 2023 budget.

Domestic renters will earn $1.176 billion, while non-domestic tenants and licensees will receive a maximum of $16.6 million.

Domestic renter rates will be waived on a monthly basis from April 1 to September 30, subject to a $1,000 maximum each quarter. Tenancies lasting less than a month will be charged on a pro-rata basis.

The rate reduction passing-on arrangement will also apply to temporary housing licensees. Except for car parks, the rate deduction for the authority’s non-domestic properties will also be transferred to non-domestic tenants or licensees.

According to the government, their monthly rates will be dropped, subject to a ceiling of $1,000 per quarter for each rateable non-domestic property. 

It also reminded them that the operators will hand them to their licensees for the authority’s single-operator markets.

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 estates have these markets.

- Published By Team Hongkong Journalist

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