XN000022-1992-01-29 — Page 11

WEDNESDAY, JANUARY 29, 1992

9

PF

THE AUTHORITY REVIEWS ITS RENTS EVERY TWO YEARS IN ORDER то BRING THEM TO MORE REALISTIC LEVELS, MR LEUNG SAID.

H

"IN ALL RENT REVIEWS, THE HOUSING AUTHORITY GIVES REGARDS TO THE VALUE OF THE ESTATES IN TERMS OF ITS LOCATION, AMENITIES, ENVIRONMENT, SCHOOLS, EMPLOYMENT OPPORTUNITIES, TRANSPORTATION AND OTHER FACILITIES AVAILABLE ON OR IN THE VICINITY OF THE ESTATES, AS COMPARED WITH OTHER ESTATES.

**THIS IS TO ENSURE THAT RENTS FOR COMPARABLE ESTATES ARE CONSISTENT, HE SAID.

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MR LEUNG SAID IN DECIDING ON THE PRESENT RATE OF INCREASE, THE AUTHORITY TOOK INTO ACCOUNT OF THE INCREASE IN RATES, THE LEVEL OF MARKET RENTS, NOMINAL WAGE INDEX, INFLATION RATE AND THE INCREASE IN THE ESTATE WORKING EXPENSES.

+

$30.21 PER SQUARE METRES.

THE RENT LEVELS OF THE ESTATES AFFECTED IN THE INCREASE WILL BE REVISED FROM $14.38 $24.21 $16.88

-

PER

RECENT RENT

METRES SQUARE

TO

"83 PER CENT OF THE AFFECTED HOUSEHOLDS WILL BE REQUIRED ΤΟ PAY BETWEEN 12 PER CENT AND 26 PER CENT MORE THAN THEIR EXISTING RENT," HE SAID.

"THE ADDITIONAL REVENUE GENERATED BY THE INCREASE WILL BE $491 MILLION FOR THE PERIOD UP TO AUGUST 31, 1993. AFTER THE RATES

TO THE PAYMENT OF $298 MILLION

GOVERNMENT, THE NET

ΤΟ GAIN

HOUSING AUTHORITY WILL BE $193 MILLION, HE SAID.

THE

0

SUPPLY OF SMALL PUBLIC HOUSING FLATS EXPLAINED

*****

A TOTAL OF 1,142 SMALL FLATS WITH SELF-CONTAINED FACILITIES WOULD BE PRODUCED BETWEEN THIS YEAR AND 1995 BY THE HOUSING AUTHORITY UNDER THE CURRENT CONVERSION PROGRAMME, THE SECRETARY FOR PLANNING, ENVIRONMENT AND LANDS, MR BOWEN LEUNG, TOLD THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

IN A WRITTEN REPLY TO A QUESTION BY THE HON HUI YIN-FAT, MR LEUNG SAID THE PROGRAMME WAS A TEMPORARY MEASURE ΤΟ PRODUCE ADDITIONAL SMALL FLATS TO MEET URGENT OPERATION REQUIREMENTS SUCH AS REDEVELOPMENT AND CLEARANCE.

"A TOTAL OF 7,213 CONVERTED FLATS WITH SHARED FACILITIES HAD BEEN PRODUCED IN THE PAST ON AN AD HOC BASIS, OF WHICH, 2,907 FLATS! WERE PRODUCED IN THE LAST 12 MONTHS," HE SAID.

MR LEUNG SAID ASSUMING THAT FLATS UNLET AFTER THREE MONTHS' OF HANDOVER WERE REGARDED AS VACANT, THE AVERAGE VACANCY RATE IN RESPECT OF THE CONVERTED FLATS WAS 25 PER CENT.

/"THE MAIN