Hong Kong task force on subdivided flats recommends tying rent increases to market index, capping raises at no more than 15 per cent

Mar 31, 2021 | INVESTING

Tens of thousands of subdivided flats, home to some of Hong Kong’s poorest people, should be subject to rent controls tied to an existing index that reflects the general market, with raises capped at no more than 15 per cent, a government-appointed task force has recommended.Pegging rent increases for the often-cramped dwellings to the local index would prevent exorbitant spikes and keep prices in line with the general trend in the residential market, the task force said on Wednesday. It also…

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