New Housing Initiatives in Hong Kong
Hong Kong's Housing Authority plans to roll out two new schemes come September. Aim: better use of subsidized homes. Approved by subsidized housing committee Thursday,these initiatives will let property owners lease flats without paying a premium and allow elderly homeowners to swap for smaller or more remote places .
Right now,owners of subsidized sale flats can't lease or sell without premium. New changes aim to ease these limits. Stephen Cheung Yan-leung,head of the authority’s subsidized housing committee,said measures could be a win-win for landlords,tenants,community. Revitalizing existing housing could expand rental options for low- to middle-income families. And boost turnover of subsidized flats.
One new scheme lets owners who've had properties for 10 years rent them out to eligible families after paying a fee to authorities. Pilot program caps at 3,000 flats. Target: tackle urgent housing needs while making better use of subsidized resources…
