XN000022-1976-02-17 — Page 8

HONG KONG HOUSING AUTHORITY #845★

PRESS

RELEASE TH

新聞稿

Tuesday, February 17, 1975

RENTS FOR GROUP B ESTATE SHOPS DEVISED

The rents of all shops and restaurants in Group B public

housing estates that are let on month-to-month tenancies will be

increased by a maximum of 25 per cent from April 1, the Housing

Authority announced today.

There are altogether 11,260 premises affected, ranging

in size from 120 aq.ft. to 1,368 sq.ft. The great majority of these

shops and restaurants are in the cheaper ranges, with over 6,000

of them having rents below $100 per month inclusive, and only 51 shops

and restaurants having rents over $300 per month inclusive.

Letters to affected tenants will be delivered tomorrow.

Except for shops in Mrk I and II blocks, which had a

suall increase in 1968/69 (of between $5 and 349), none of the

tenants have had any increase in rent since construction seven to

12 years ago.

A spokesman for the Housing Authority pointed out that

even with the increase, the new rent is substantially lower than

the open arket value, being about one-eighth to one-fourth of those

charged in the private sector.

In view of the Authority's huge deficit in the operation and

management of the former resettlement estates, which is estimated

to top $85 million in 1976/77, the spokesman said:

There is ...***