5942. Hong Kong housing data

 Ref: Sunday Times. Sunday, July 14, 2024. 

Hong Kong recorded its hottest day so far in 2024 on July 7, with temperatures reaching 35 deg C in several areas. The heat forced lower-income households to spend even more of their limited budget on higher water and electricity consumption.

Subdivided units typically are no bigger than 150 sq ft, about size of a standard parking space in Singapore.

Rooftop huts range from 100 to 300 sq ft. e.g. metal-encased rooftop structure in Kowloon

Cage homes as small as 15 sq ft, smaller than a single-sized mattress.

Poor ventilation and materials like metal sheets which absorb and trap heat are used in such housing. They turn the homes into "ovens".  Residents seek relief by staking out air-conditioned malls, libraries and other public facilities.

Over time, children's physical discomfort (insomnia, bad temper) affect their mental, emotional and behavioural development and school performance.

 

Average wait for public housing is around 5.8 years. A transitional housing scheme is still awaiting roll-out in 2025 at the earliest. 

On July 8, the Housing Authority announced a raise in the public housing rents by 10%. Tenants would, on average, pay HK$230 (SR40) mor in rent monthly from January. 

A 2021 govt report - one-third of households living in subdivided flats earn a monthly income of at least HSR20,000, exceeding their public housing income ceiling. The limit is HK$12,9940 and HK$19,730 for one- and two-person households respectively.

Prospective home buyers have turned to the rental market, putting off home purchases due to persistently high interest rates and expectations that property prices will fall further.

1. No. of households in Hong Kong's public rental flats:   >800,000.

2. Number of residents who live in subdivided flats, rooftop structures and cage homes - which are privately owned - in a city of around 7.5 million people:  >220,000.