{"id":3427,"date":"2019-06-24T09:09:17","date_gmt":"2019-06-24T09:09:17","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=3427"},"modified":"2021-06-04T14:29:59","modified_gmt":"2021-06-04T07:29:59","slug":"record-breaking-rents-for-hong-kongs-caged-homes","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/record-breaking-rents-for-hong-kongs-caged-homes\/","title":{"rendered":"Record-breaking rents for Hong Kong\u2019s caged homes"},"content":{"rendered":"<p>Living in the city\u2019s tiny, subdivided flats could cost a fortune more than ever<\/p>\n<figure id=\"attachment_3428\" aria-describedby=\"caption-attachment-3428\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-3428\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/06\/shutterstock_1312183535.jpg\" alt=\"\" width=\"1000\" height=\"662\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/06\/shutterstock_1312183535.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/06\/shutterstock_1312183535-300x199.jpg 300w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/06\/shutterstock_1312183535-768x508.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-3428\" class=\"wp-caption-text\">Old apartment buildings in Hong Kong. Lichtwolke\/Shutterstock<\/figcaption><\/figure>\n<p>The index for subdivided flats leapt 7.7 percent from 411.3 last year to 443 this year, the <a href=\"https:\/\/www.scmp.com\/news\/hong-kong\/health-environment\/article\/3015725\/rents-subdivided-flats-hong-kong-hit-new-high\" target=\"_blank\" rel=\"noopener noreferrer\">South China Morning Post<\/a> is reporting, citing data from the Subdivided Flats Concerning Platform.<\/p>\n<p>The index, derived by comparing the rent of subdivided cubicles with that of the entire flat, outweighed the 5.8 percent increase in private domestic rental indices by Hong Kong\u2019s Rating and Valuation Department in October.<\/p>\n<p>Subdivided flats, synonymous with Hong Kong\u2019s notorious \u201ccaged homes\u201d, are made by partitioning an apartment room into cubicles.<\/p>\n<p>The Subdivided Flats Concerning Platform collected data from 66 households in Kowloon City, Kwai Tsing, Kwun Tong, Sham Shui Po and Tsuen Wan.<\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/spooked-by-high-prices-hongkongers-buy-haunted-homes-survey\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>More: Spooked by high prices, Hongkongers buy haunted homes<\/strong><\/a><\/p>\n<p>Rent on average accounted for 41 percent of the income of a household in a subdivided flat, the group charged. \u201cIf we include water and electricity bills, which are typically between HKD500 and HKD1,000 [a month], the expenses could be more than half of wages,\u201d Wong Ka-chun, a community organiser for the group, was quoted as saying by the Post.<\/p>\n<p>\u201cSome households even said it is close to 80 percent.\u201d<\/p>\n<p>The average wage in Hong Kong rose 4.1 percent in the year to December 2018, compared with an increase of 4.8 percentage points for rent as a portion of household income.<\/p>\n<p>Around 91,800 households live in subdivided flats in Hong Kong, according to a 2016 population by-census.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Living in the city\u2019s tiny, subdivided flats could cost a fortune more than ever<\/p>\n","protected":false},"author":8,"featured_media":20136,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92],"tags":[171,337],"class_list":["post-3427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-hong-kong","tag-tiny-homes","news_country-hk-macau","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Record-breaking rents for Hong Kong\u2019s caged homes | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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