Page 75

Chapter 2 Future Prospects of Elderly Housing Development

70

of ‘housing with care’ are rather experimental in present-day Hong Kong, yet undoubtedly offer the elderly a new choice of living. In total the two estates provide 576 units, 14 whether in studio flats or 1-bedroom settings of sizes from 23 to 37m2,15 and are targeted at middle-class elderly singles and couples. Applicants must aged 60 or above and meet income and asset limits as the projects were subsidized by the government through setting a nominal land premium.16

The SEN flats are rented under a lease-for-life arrangement. The tenant pays a lump-sum of around HKD500 to 800 thousand (GBP40000 to 64000) as the entry contribution, depending on the prevailing market rent at time of application, tenant’s age and the unit type.17 Over the tenure, the resident is only required to pay monthly management fees and basic service charges. The tenancy terminates upon tenant’s wish or on the death of the tenant.18 Although tenants never own the property, most reckon that the accompanying medical and care services can make FIGURE 2.12

Year 5 Thesis  

Ageing in Hong Kong? Study on Local Elderly Housing & Multi-generational Living in Future

Read more
Read more
Similar to
Popular now
Just for you