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Posh property expensive? It’s Hong Kong meting out justice

Posted on 26 November 2012

Let’s talk about pricey property in Hong Kong. At the latest official count, 765,000 flats in this city have an average monthly rent of about HK$1,200 apiece. Pricey? In fact, public housing tenants are effectively paid to occupy their homes. Management, maintenance and other costs amount to more than rental income.
The Housing Authority incurs a loss on rental operations despite having no land costs. Nonetheless, it has granted its tenants rent-free periods of at least two months a year for the last five years. ……………………………………….Full Article: Source


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Laxman - who has written 28515 posts on Opalesque Real Estate Briefing.


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