As some rush to revamp subdivided flats before the new law takes effect, others hesitate, wary of exact requirements, hidden costs and uncertain returns
Matthew Lau Chi-kwong, a landlord operating more than 500 subdivided homes across over 50 whole flats, is among the first to rectify his properties.
“My stock is too big. I have to follow the government policy … However, I will not rush to rectify all of them to stay flexible,” he said.
Lau has spent around HK$2 million (US$255,672) to upgrade 20 standard flats by merging smaller units and installing windows, among other works. One project involved converting a flat of more than 1,000 sq ft in Happy Valley into four subdivided homes, each renting for about HK$13,000 per month.
Hong Kong aims to improve subdivided flats, but will it help or hurt the city’s poor?
