Some elderly landlords in Hong Kong say they cannot afford renovations costing up to HK$400,000 to meet new regulations. They may be forced to remove units renting for HK$3,000 a month from the market.
Four landlords owning subdivided flats in Sham Shui Po and Yau Ma Tei shared their difficulties at a media session on Friday. They had registered for the grace period under the Basic Housing Unit Ordinance but are struggling to meet compliance requirements.
Contractor estimates far exceeded the HK$25,000 to HK$51,000 per flat range presented by the Housing Bureau last week. An 81-year-old retired newspaper vendor, Wing-tse, said costs reached HK$400,000 to upgrade her 800 sq ft flat divided into four units.
Wing-tse said: “I hope the government can assist me in finding a better quotation if they know these renovation contractors.”