4
new
refers to the rents of new estates at the time the tenants move tenants in the private in. The corresponding figure for
cases. The 15-18% sector is much higher, reaching 40% in some
as quoted in the Report, refer figure for private sector rents,
It may also to those of sitting tenants in the private sector.
that sitting tenants in public be useful to point out here housing estates are currently paying about 7% of their incomes as monthly rents. The difference in rents between the public and the private sectors can thus be seen.
older estates are concerned that their Some tenants in older estates
While this concern is rents will be raised up to the 15% level.
it is true that in the past years, understandable and, indeed,
higher than faced have
rent
to reflect
increases
more accurately their estate have already been given in the Report that
some older
estates
inflation rates so
as
values, assurances
tenants
estates, in older
where the available
amenities are
poorer in comparison to the new ones, will still be paying rents significantly lower than the 15% level.
I
the
support Regarding the Housing Subsidy Report,
rent should be principle that those who can afford to pay more
When families apply for public housing, one required to do so.
income cannot exceed major eligibility criterion is that their income
Accordingly, rents are set taking the waiting list income limit. into consideration their affordability within the income limit. It is only logical that sitting tenants who are now earning more than twice the waiting list income limit should pay double rent. of their At any rate, the double rent will not be more than 15% income and should therefore be affordable.
A consistent and realistic rent policy has been the key This has been to the success of our public
our public housing programme.