{"id":455,"date":"2022-05-12T16:50:41","date_gmt":"2022-05-12T08:50:41","guid":{"rendered":"https:\/\/seniorclic.hk\/?p=455"},"modified":"2024-05-26T22:45:56","modified_gmt":"2024-05-26T14:45:56","slug":"well-off-tenants-policies","status":"publish","type":"post","link":"https:\/\/seniorclic.hk\/en\/topics\/housing-accomodation\/public-housing-issues\/well-off-tenants-policies\/","title":{"rendered":"Well-off Tenants Policies"},"content":{"rendered":"

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Well-off Tenants Policies<\/strong><\/p>\n

The Housing Subsidy Policy (\u201cHSP\u201d) and the Policy on Safeguarding Rational Allocation of Public Housing Resources (\u201cSRA\u201d), which endorsed in April 1996, commonly known as the \u201cWell-off Tenants Policies\u201d (\u201cWTP\u201d), were introduced with the objective of reducing the housing subsidy to PRH tenants who no longer need it. Under the WTP, households who have been living in PRH for 10 years or more are required to declare their household income and assets biennially.<\/p>\n

PRH households whose family income exceeds 5 times the prevailing PRH income limits (\u201cPRHILs\u201d) or whose total household net asset value exceeds 100 times the prevailing PRHILs or PRH households fail to return the completed Declaration Form on or before the specified date, or opt not to declare should vacate their PRH flats.<\/p>\n

PRH households who have domestic property ownership in Hong Kong should vacate their PRH flats, irrespective of their levels of income or assets.<\/p>\n

For households who do not have domestic property ownership in Hong Kong and whose household income and net asset value do not exceed the prescribed levels of income and net asset value, they may continue to live in their PRH flats; if their household income exceeds 2 times and not more than 3 times the prevailing PRHILs, they will be required to pay 1.5 times net rent plus rates; if their household income exceeds 3 times and not more than 5 times the prevailing PRHILs, they will be required to pay double net rent plus rates.<\/p>\n

PRH households are required to declare to the HA every two years after admission to PRH on whether they have any domestic property ownership in Hong Kong.\u00a0 PRH tenants and all family members should make declaration to the HA after having acquired a domestic property in Hong Kong (within one month of entering into any agreement, including provisional agreements).<\/p>\n

The following households are exempt from the Income and Assets Declaration:<\/p>\n

    \n
  1. All members aged 60 or above<\/li>\n
  2. All members receiving Comprehensive Social Security Assistance<\/li>\n
  3. All members eligible for\/ receiving Social Welfare Department\u2019s Disability Allowance<\/li>\n
  4. All members in different combinations of 1, 2 and\/ or 3 above<\/li>\n
  5. On shared tenancies<\/li>\n<\/ol>\n

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    The Housing Subsidy Policy (HSP) was implemented on 1 April 1987 with the objective of reducing the housing subsidy to PRH tenants who no longer need it. 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