With Hong Kong being right at the top of the list of most expensive cities to live in, you can imagine how expensive it is to get your own flat in the city, especially as an expat. But the truth is, apartments to live in the city do not really measure up to the costs they are being priced at. And so, the next best thing probably is to get public housing which is subsidized by the government.
Gov’t Sets Rental Fees for New Public Housing Flats
The Housing Authority released costs for 7,626 flat rentals at four public rental housing estates, to be completed between March and June, which are said to have been the best rent levels in their respective districts, as shared in a report by news.gov.hk.
Based on the report, the best monthly rent in the Urban District at HKD 85.50 per sq m, will apply to 32 flats in one block in San Mau Ping Estate in Kwung Tong and 1,314 flats within two blocks in Lai Tsui Court in Cheung Sha Wan.
Sheung Shui District’s best monthly rent of HKD 60.60 per sq m will be applied on 1,144 flats in the three blocks in Po Shek Wu Estate.
Under the new rent-fixing exercise, the rent for more than 56% of the flats will be under HKD 2,500 per month.
As per authorities, the rents are heavily subsidized and are already inclusive of rates, management fees and maintenance costs.
Those who will be allocated new flats but cannot meet the rental costs can request for refurbished flats which are priced much lower, or apply for assistance under the Rent Assistance Scheme.
All these are available to holders of Hong Kong ID Cards, which are currently being replaced for those residing in the city since December of last year.