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.
EDENA Unveils AI System To Automate Sovereign Asset Settlement
At the DAT Summit Hong Kong, EDENA Capital Partners launched the Autonomic Financial OS. The company describes it as an... Read more
Naver Exposes 15,000 Knowledge IN Users Activity, Moves To Improve Privacy Controls
Naver has announced measures following an incident in which around 15,000 users’ activity histories on Knowledge iN w... Read more
Japans PayPay Files For US IPO, Targets Valuation Above US$10B
SoftBank‘s digital payments unit, PayPay, has filed publicly for a US IPO. The listing could be the largest by a Japa... Read more
Inference Research Launches In Hong Kong With US$20M Seed Funding
Inference Research, an AI-native quantitative trading firm based in Hong Kong, has announced its launch and the expecte... Read more
London-Based Unlimit Appoints Michele Fung To Lead APAC Expansion
London-based fintech company Unlimit, which provides a broad range of financial technology services, has appointed Mich... Read more
SoFi Launches Digital Asset Trading In Hong Kong Through OSL Partnership
SoFi Securities (Hong Kong) (SoFi Hong Kong) and OSL Group have announced a partnership to offer digital asset trading ... Read more

