Housing Authority sets rents for new blocks of two existing public rental housing estates

The following is issued on behalf of the Hong Kong Housing Authority:
     Rents for a total of 7 595 flats in nine new non-standard blocks at two existing public rental housing (PRH) estates, namely Lai Yiu Estate in Kwai Chung and Fu Tip Estate in Tai Po, under the Hong Kong Housing Authority (HA), will be set at the best rent level in their respective districts. The best rent level of a respective district is expressed in terms of dollars per square metre of internal floor area and determined with reference to the location and comparable value of the estates concerned.
     The best rent at $91.80 per sq m per month for the flats in Kwai Chung District will apply to the 819 flats in Hei Yiu House of Lai Yiu Estate, and the best rent at $83.20 per sq m per month for the flats in Tai Po District will apply to the 6 776 flats in Chun Tip House, Fan Tip House, Fung Tip House, Gaap Tip House, Hei Tip House, Hin Tip House, Tsz Tip House and Wong Tip House of Fu Tip Estate.
     "Under this rent-fixing exercise, over 60 per cent of the flats are set at a rent level below $2,500 per month," a spokesman for the HA said today (December 8), adding that PRH rents, which are inclusive of rates, management fees and maintenance costs, are heavily subsidised.
     "PRH applicants who are allocated new flats but cannot afford the rents may request refurbished flats at lower rents, and they may also apply for assistance under the Rent Assistance Scheme for flats in older block types where applicable," the spokesman added.

Ends/Thursday, December 8, 2022
Issued at HKT 14:30