By South China Morning Post | Created at 2024-11-28 06:56:34 | Updated at 2024-11-28 09:38:44
2 hours ago
A proposed government plan to wipe out substandard flats could eliminate cheaper subdivided homes and force tenants to relocate with limited options, a leading Hong Kong operator and a concern group have warned.
Hayson Chan Hin-hay, business development director of rental company Rent to Rent Innovation Limited, said the new law could be difficult to enforce while some landlords might exit the market entirely due to reduced profits from hefty renovation costs.
“The most important concern is profit, because that’s why we are renting out these units. However, we now have to fulfil the new standards and face hefty penalties,” Chan said.
“Many investors are hesitant to renovate their flats or offer new ones to the market.”
Under the authorities’ plan to wipe out substandard homes, subdivided flats must fulfil a set of standards laid down for “basic housing units”, which include a minimum size of 86 sq ft (eight square metres), a ceiling height of 2.3 metres, proper windows and at least one toilet for each subdivided home.
The flats must also fulfil fire and structural safety requirements.
