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The Hong Kong Housing Society will raise rents at its rental estates by 2.85 percent from October, with households expected to pay an average of HK$73 to HK$200 more per month.
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The new rental levels will remain in effect until the end of September 2028.
Several rental estates completed within the past two years will not be included in the latest rent review. They include Yue Ying Lau in Aberdeen, Eminence Tower 1 Hung Shui Kiu, Sierra Tower in Fanling and Avis Tower (Tower 1) in Ngau Tau Kok.
The Housing Society said that as a self-financing, non-profit organization, it takes into account both the operating costs of its rental estates and tenants’ affordability when reviewing rents.
A spokesman said the society also operates a Rent Assistance Scheme for eligible tenants facing temporary financial difficulties. Successful applicants may receive a rent reduction of either 25 percent or 50 percent.
The society added that it would continue investing in improvements to aging rental estates and upgrading facilities.
Operating expenses at its rental estates have increased over the past two years, resulting in deficits in its operating accounts, it said. The Housing Society expects the losses to continue over the next two years.
