Elderly landlords of subdivided flats say they can’t afford upgrade costs

Elderly landlords in Hong Kong who own subdivided flats are facing significant financial challenges due to new government regulations. These landlords, primarily in Sham Shui Po and Yau Ma Tei, have stated they cannot afford renovation costs that could reach HK$400,000 per flat to meet compliance requirements. This is substantially higher than the Housing Bureau's estimated range of HK$25,000 to HK$51,000 per flat. Consequently, some landlords are considering removing their low-rent units, which currently cost around HK$3,000 per month, from the market. They have registered for the government's grace period under the Basic Housing Unit Ordinance but are struggling with the new demands.