Income and asset limits for public rental housing waiting list applicants will rise by an average of 2.7% and 1.7% respectively from April 1 to reflect the change in consumer price levels and rents over the year.

The Housing Authority estimates 126,500 non-owner occupied households in the private sector (34.1%) will be eligible for public rental housing, up by 4,900.

For one-person households, the income limit will rise from $6,600 to $6,800, while that for a four-person household will rise from $14,300 to $14,600.

The asset limit for a one-person household will rise from $170,000 to $173,000, while the limit for a four-person household will increase from $350,000 to $356,000. For the adjustment details click here.

New adjustment methodology

The authority also endorsed the use of a new methodology for setting asset limits. The prevailing asset limits will be adopted as the basis for future adjustments according to movements in the Consumer Price Index (A).

The authority's Subsidised Housing Committee chairman Ng Shui-lai said the move can provide the authority with a practical and transparent framework for reviewing the asset limits.