Press Release

2022-2024 Domestic Rent Review and
Relief Measure for Rental Estates of the Housing Society

The Hong Kong Housing Society (HKHS) announced that its Executive Committee has approved the rent adjustment and corresponding relief measure for its rental estates for the years 2022-2024.

After a dual and balanced review of the operating cost and tenants' affordability, the rent for the 20 rental estates under HKHS will be increased by 2%, effective on 1 October 2022 until 30 September 2024.  Taking into account the impact brought by the epidemic to the socio-economic situation and domestic tenants, HKHS has decided to provide a special relief measure by waiving the extra rent payable by the tenants monthly as a result of rent adjustment between 1 October 2022 and 30 September 2023.

As a self-financing not-for-profit organisation, HKHS keeps the operating accounts of its rental estates independent of other businesses.  The rent level of HKHS’s rental estates is reviewed every two years in accordance with its established rent review mechanism.  The setting of rent level is mainly premised on the operating costs of rental estates, including the recurrent expenses on day-to-day operations and tenancy administration, as well as spending on major improvement works, repair and maintenance, whereas the affordability of domestic tenants is also taken into consideration.  The average monthly adjustment per household after the adjustment is about HK$48 and this is set after striking a balance between tenants’ affordability and the sustainable operation of its rental estates.  In addition, the Rent Assistance Scheme of HKHS has offered help to tenants who encounter short-term financial difficulties, under which eligible tenants will be granted 25% or 50% rent reduction.

It is anticipated that HKHS’s rental estates operation will continue to incur a deficit.  Over the past two years, the operating expenditure of its rental estates has increased by more than 6%, and about HK$100 million was spent on improvement works to enhance the facilities of its ageing estates in the last fiscal year.  With the rent relief measure offered to tenants in the first 12 months under the new rent adjustment, the projected annual operating deficit of its rental estates will be HK$98 million on average in the next two years.

香港房屋協會出租屋邨名單
HKHS Rental Estates Portfolio

 
*寶石大廈、健康村(重建)及駿發花園屬乙類出租屋邨，其他則屬甲類出租屋邨。
* Bo Shek Mansion, Healthy Village (Redeveloped) and Prosperous Garden are Group B rental estates, while all the others are Group A rental estates.