Hong Kong public housing rents to increase by 10%: source

The authority suggested implementing the arrangement in October with a three-month exemption, which means tenants only have to pay the new rent starting from next year, according to the source.

But “well-off tenants”, who exceed certain income and asset thresholds, would not enjoy the exemption and would pay the new rent starting in October, the source said.

The authority’s Subsidised Housing Committee has yet to approve the new arrangement.

Under the mechanism, the authority reviews public housing rent once every two years. There is a 10 per cent cap on the rent increase rate but there is no restriction on reduction.

Public housing rent was last raised by 1.17 per cent in 2022. The rise was about HK$26 per month on average, ranging from HK$5 to HK$66.

The authority waived the extra rent that tenants were required to pay in the first 12 months, taking into account the impact of Covid-19 pandemic.