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The following is issued on behalf of the Housing Authority:
Rent for about 11,300 public rental housing (PRH) flats in the Housing Authority's (HA) five new estates scheduled for completion from January to July 2009 will be fixed based on the reduced district best rent levels.
The reduced inclusive best rent at $56 per square metre per month for flats in the urban district would apply to the 1,576 Non-standard flats at Yau Lai Estate, the 3,036 Non-standard flats at Lam Tin Estate, the 3,995 New Harmony flats at Sau Mau Ping Estate Phases 13 & 14 and the 714 Non-standard flats at Upper Wong Tai Sin Estate Phase 3, a spokesman for the HA said today (21 November).
Rent for the 1,598 New Harmony flats and 360 Non-standard Annex flats at Shek Mun Estate, Sha Tin, will be $54.1 per square metre per month. (See table for the rent levels for the five new estates.)
In August 2007, the HA reduced the district best rent levels as well as PRH rent by 11.6 % in order to provide an appropriate starting point for the new income-based rent adjustment mechanism to operate effectively. The reduced best rent levels have been adopted for newly completed PRH estates.
"Under this rent fixing exercise, more than 84% of the flats are set at a rent level below $1,800 per month," the spokesman said. He added that PRH rent is heavily subsidised.
Noting that the rent levels were within the prospective tenants' ability to afford them, the spokesman said that apart from new estates, households can also choose refurbished flats in existing PRH estates. Tenants living in estates constructed prior to 1992 could apply for the Rent Assistance Scheme (RAS) immediately if needed, he said.
Ends/Friday, November 21, 2008
Issued at HKT 16:36
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