Opinion | As Hong Kong’s old buildings rain concrete, it’s time for urgent action
- Authorities are pushing to make preventive maintenance the industry practice. But property managers and owners must also play their part in the upkeep of buildings
Sadly, the decay of buildings in Hong Kong is nothing new, as the bulk of our stock dates back to the 1970s and 1980s. But the situation has been getting worse. A government report last year found that more than 26,000 buildings were 30 years or older, of which about 20 per cent (5,200 buildings) were classified – alarmingly – as being in a “varied’ or “poor” condition.
Under the Building Management Ordinance, property managers should establish and maintain a “special fund” to meet irregular expenses such as renovation, improvement works and the repair of common areas. This is to ensure a piggy bank for the upkeep of the building.
But an Urban Renewal Authority (URA) survey has revealed that only a third of buildings had set up this special fund. Even among these, all too often, the balances were inadequate to cover the cost of major maintenance works. This is mainly because many owners lack the professional knowledge needed to determine the level of reserves required or may be reluctant to participate in these matters.