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The following is issued on behalf of the Housing Authority:
Housing Authority's Subsidised Housing Committee today (March 12) endorsed an upward adjustment to the Waiting List income and asset limits for 2007-08.
The income and asset limits for 2007-08 will be increased by an average of 5.2% and 1.8% respectively. For two-person and five-person households, the income limits will increase from $10,300 and $16,300 to $10,800 and $16,900 respectively. The asset limits for one-person, two-person and three-person households will go up from $173,000, $243,000 and $305,000 to $176,000, $238,000 and $310,000 respectively. (see Table).
"The new set of limits will take effect on April 1. It is estimated that some 119,600 non-owner occupied households in the private sector (31.7%) will be eligible for public rental housing (PRH), up 2,700 from the current 116,900 households (31%),” chairman of the committee Mr Michael Choi Ngai-min said.
The current methodology for assessing the Waiting List income and asset limits was developed in 2002 following a comprehensive review. The committee further decided in 2005 and 2006 respectively to set asset limits for elderly households at twice the limits for non-elderly applicants, and to adjust the asset limits with reference to the Consumer Price Index (A).
Ends/Monday, March 12, 2007
Issued at HKT 17:11
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