MONDAY, JUNE 3, 1985
5.
RENT REVISION FOR UNITS IN FACTORY ESTATES
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THE HOUSING AUTHORITY HAS COMPLETED A BIENNIAL RENT REVIEW FOR UNITS IN 10 FACTORY ESTATES. THE RENTS FOR THESE UNITS WILL BE INCREASED AS FROM AUGUST.
A HOUSING SPOKESMAN SAID TODAY INCREASES WOULD AMOUNT TO LESS THAN $100 PER UNIT A MONTH FOR THE GREAT MAJORITY, OR 90 PER CENT, OF THE TENANTS INVOLVED.
HE SAID THE TENANTS HAD BEEN ENJOYING RENTS WHICH WERE SUBSTANTIALLY LOWER THAN MARKET LEVELS AND THE REVISION WOULD BRING THE RENTS TO A MORE REALISTIC LEVEL.
+ EVEN AFTER REVISION, THE RENTS CHARGED WILL STILL BE BELOW THEIR FULL MARKET VALUE.
+THERE HAD BEEN AN INCREASE OF 20 PER CENT IN RATES PAYABLE IN RESPECT OF THE PROPERTIES IN 1984-85, AND THIS WAS ABSORBED BY THE HOUSING AUTHORITY. ANOTHER 20 PER CENT INCREASE AGAIN BECAME PAYABLE BY THE AUTHORITY FROM APRIL THIS YEAR.
IN REVIEWING THE RENTS, THE AUTHORITY TOOK THE RATES INCREASES INTO ACCOUNT.+
THE SPOKESMAN SAID THE RENT REVISION WOULD INVOLVE 9 201 FACTORY UNITS LET IN 4 086 TENANCIES.
THESE UNITS ARE MAINLY 24 SQUARE METRES IN SIZE AND ARE IN THE PRE-1975 FACTORY ESTATES OF CHEUNG SHA WAN, CHAI WAN, JORDAN VALLEY, SAN PO KONG, KWUN TONG, KWAI CHUNG, TAI WO HAU AND YUEN LONG, AS WELL AS IN KOWLOON BAY AND SHEK KÍP MEI FACTORY ESTATES.
HE SAID FACTORY ESTATE RENTS VARIED ACCORDING TO THE DESIGNED FLOOR-LOADING CAPACITIES OF THE UNITS.
+REVISED RENTS WILL RANGE FROM $8 TO $18.58 A SQUARE METRE IN THE EIGHT PRE-1975 FACTORY ESTATES.
+ IN KOWLOON BAY ESTATE WHICH WAS COMPLETED IN 1975, NEW RENTS WILL BE FROM $14.58 TO $28.25 A SQUARE METRE. THESE WILL VARY BETWEEN $27.50 AND $46.63 A SQUARE METRE IN SHEK KIP MEI ESTATE WHICH WAS COMPLETED IN 1977 AS THE FIRST FACTORY BLOCK PROVIDED WITH CARGO LIFTS.+
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