Owners register 70 percent of Hong Kong's subdivided flats for grace period
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Landlords in Hong Kong registered approximately 75,070 subdivided units for a three-year grace period under the new Basic Housing Units Ordinance.
The Housing Bureau reported these registrations to the Legislative Council, noting that the units are spread across about 21,000 whole flats. Most of these registrations come from Kowloon, a major district in Hong Kong. Specifically, 49,100 of the registered units are in Kowloon, with 21,500 of those located in the Yau Tsim Mong district.
Secretary for Housing Winnie Ho Wing-yin stated that these registrations cover about 70 percent of the 110,000 subdivided flats identified in a previous survey. The government believes this progress shows that owners want to enter the new legal regime to secure a 36-month grace period before deciding on the future of their properties.
