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Government rent in Hong Kong started on July 1, 1997, with the inception of the Joint Declaration. It said that new land grants contain a standard condition that the lessee is required to pay an annual rent, equal to 3% of the rateable value from time to time of the land leased.
A property tax known as "rates" has been levied in Hong Kong since 1845.The tax applies to all domestic and commercial properties unless exempted, and is based upon the rental value of the property, re-assessed each year.
Government Property Agency (GPA) is an agency under the Financial Services and the Treasury Bureau of the Government of Hong Kong. Established on 1 April 1990, the Agency manages the government properties which were distributed among Government Secretariat , Lands Department , and Rating and Valuation Department .
[60] [59] The Hong Kong Golf Club paid a total HK$2,500,000 in 2017 for rent to the government, only 3% of actual market value, [59] meaning the other 97% is subsidized by the government. The Golf Club charges individuals a full membership fee HK$17,000,000 [ 61 ] which means a single person's full membership fee covers almost 7 years of rent ...
Public housing in Hong Kong is a set of mass housing programmes through which the Government of Hong Kong provides affordable housing for lower-income residents. It is a major component of housing in Hong Kong , with nearly half of the population now residing in some form of public housing. [ 1 ]
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The Home Ownership Scheme (HOS) is a subsidised-sale public housing programme managed by the Hong Kong Housing Authority.It was instituted in the late 1970s as part of the government policy for public housing with two aims – to encourage better-off tenants of rental flats to vacate those flats for re-allocation to families in greater housing need; and also to provide an opportunity for home ...
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