Hong Kong is cracking down on richer tenants living in highly sought-after subsidised public housing, as the Chinese territory faces increased pressure from Beijing to widen access to affordable homes in one of the world’s most expensive property markets.
Authorities are targeting households whose assets exceed government limits. The income ceiling for a four-person family is HK$30,950 (US$3,970), and they should have net assets no greater than HK$590,000. Average rents for social housing properties are HK$2,297.
The government has hired retired police officers to investigate tenants — some of whom have been seen driving Mercedes-Benz and BMW luxury vehicles — and are planning to offer bounties for tip-offs.
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