Group Demands Rent Controls For Subdivided Flats
"); jQuery("#212 h3").html("

"); });
2021-03-21 HKT 16:28
A concern group on Sunday called on the government to take urgent action to help people living in subdivided flats, including introducing rent controls and giving existing tenants priority in renewing leases.
The Hong Kong Subdivided Flats Concerning Platform said rents should be no more than 150 percent of a flat's rateable value, with limits on how much rent could go up when the lease is renewed.
The group’s convenor, Tang Po-shan, said the measures are needed to protect those who are exploited by their landlords.
“Many residents of subdivided flats, they use about 40 percent of their income to cover their rent. I think it’s not reasonable because many subdivided flat residents, they are grassroots. They get a very low income… I think it’s quite important to protect their rights by having a standard rent”, he said.
Tang’s comment comes as the government-appointed Task Force for the Study on Tenancy Control of Subdivided Units is due to submit its recommendations to the administration next month.
The chairman of the task force, William Leung, had earlier said members expressed a preference for regulating rent increases, but not the initial rent landlords charge tenants.
A study by the Census and Statistics Department in 2016 showed that more than 200,000 people were living in subdivided flats.
Vietnam And South Korea Launch Cross-Border QR Payments
Vietnam and South Korea have launched cross-border QR payments that allow Korean users to pay merchants in Vietnam thro... Read more
WeChat Pay Integrates With Local QR Networks In 5 Asian Countries
WeChat Pay has integrated its service with national QR code networks in five Asian countries, simplifying cross-border ... Read more
Global Transition Finance Ecosystem Gains Momentum
The global transition finance ecosystem is gaining momentum. According to new research by the Hong Kong Institute for M... Read more
Banking Circle Taps PayGate To Ease KRW Cross-Border Payments Into South Korea
Global payments bank Banking Circle will now handle cross-border transactions and settlement flows for South Korean pay... Read more
Equinix AI Discovery Hub Opens In Hong Kong For Enterprise AI
Digital infrastructure company Equinix is partnering with Hewlett Packard Enterprise (HPE) to launch the Equinix AI Dis... Read more
Tencent, Alibaba Eye DeepSeek Stake As AI Startup Tops US$20B Valuation
Chinese tech giants Tencent and Alibaba are in discussions to invest in AI startup DeepSeek, The Information reported, ... Read more