The Macao government has adjusted the income and liquid asset limits for social rental housing applicants.
The adjustments were promulgated in today’s Official Gazette (BO) in the form of an executive order signed by Chief Executive Ho Iat Seng.
Applicants’ monthly income limit ranges from MOP 12,750 (US$1,600) for a one-person household to MOP 37,300 for a household with seven or more members.
The liquid asset limit ranges from MOP 275,400 for a one-person household to MOP 805,700 for a household with seven or more members.
The maximum monthly income does not include pensions paid by the Social Security Fund (FSS), the executive order states.
Social housing rents are calculated according to a formula that takes into account the monthly income, number of household members and subsistence expenditure of the respective unit’s tenant or tenants.
According to Ho’s executive order, the monthly subsistence expenditure ranges between MOP 4,350 for a one-person household to MOP 18,580 for a household with seven or more members.
The Macao government offers residents two kinds of public housing flats – tenant units (social rental housing) and subsidised home-ownership scheme (HOS) units, the latter of which are known as “economical housing” in Chinese and Portuguese.
The next round of applications for social rental housing flats is slated to begin on Thursday.