Housing Authority Mulls Tighter Public Flat Rules
"); jQuery("#212 h3").html("
"); });
2023-05-23 HKT 12:34
Hong Kong's main provider of subsidised rental homes is looking to shake up its rules for ensuring that cheap flats only go to people who need them, sources said on Tuesday.
The Housing Authority plans to tighten declaration rules for well-off tenants, including requiring them to state every two years whether they own any property – to see whether they are still eligible for a subsidised home. At present, such declarations are only needed every 10 years.
Under the proposals, tenants deemed no longer eligible for a public flat would only have a four-month grace period after being warned they are at risk of eviction – down from one year at present.
Those evicted could also face a longer ban from applying for public housing again.
The proposals are to be discussed by the authority's subsidised housing committee on Wednesday, sources said.
The authority launched a review of the system following reports that a suspect in the recent murder of socialite Abby Choi bought a government-subsidised flat despite also owning a luxury property.
Hong Kong Pilots Worlds First Integration Of Payment System With Chinas Digital Yuan
Hong Kong residents can now set up digital yuan (e-CNY) personal wallets using only their Hong Kong mobile phone number... Read more
Arthur Yuen To Continue As HKMA Deputy Chief Executive For 2 More Years
The Hong Kong Monetary Authority (HKMA) has announced that Arthur Yuen’s tenure as Deputy Chief Executive has been ex... Read more
The Transformative Potential Of Blockchain For The Hong Kong Financial Sector
Hong Kong, a global financial centre, is incorporating blockchain technology into its financial services industry. As a... Read more
Justin Suns HTX Withdraws Second Crypto License Bid, To Shut In Hong Kong
HBGL Hong Kong Limited, the Hong Kong affiliate of cryptocurrency exchange HTX (formerly Huobi Global), has withdrawn i... Read more
Standard Chartered Leverages DLT For First Euro Cross-Border Transactions on Partior
Standard Chartered announced that it had completed the first Euro-denominated cross-border transactions between Hong Ko... Read more
Standard Chartered, Mastercard, Mox, And Libeara Complete Tokenisation Proof-of-Concept Pilot
Standard Chartered Bank (Hong Kong) Limited (SCBHK) has collaborated with Mox Bank, Mastercard, and Libeara to complete... Read more