The Housing Authority’s Subsidised Housing Committee today endorsed the proposed income and asset limits for applicants of different household sizes for 2024-25. The adjusted limits will take effect from April 1.

The committee endorsed freezing the income limits for one-person and four-person households at the existing levels, while adjusting upwards the income limits for households with two persons, three persons and five persons or above.

The authority said the adjustments were made after taking into account such factors as the current economic outlook and previous practices in reviewing the income limits.

As regards asset limits, they will be adjusted upwards by 3% for all household sizes.

Public rental housing income limits are derived using a household expenditure approach, which takes into consideration housing costs and non-housing costs, plus a 5% contingency provision. The asset limits, meanwhile, are adjusted with reference to movements in the Consumer Price Index (A) over the year.