The Housing Authority's Subsidised Housing Committee (SHC) on Friday said it approved changes to income and asset limits for people seeking public housing.

The income limits for single-person and four-person households will remain unchanged, at HK$12,940 and HK$30,950 respectively.

But the limits will be raised for families of two or three, as well as those with five or more residents.

The asset limit will increase by 3 percent across the board, in line with the established mechanism.

The new rules take effect on April 1.

The chairwoman of the SHC, Cleresa Wong, said they apply to those currently on the waiting list as well as future applicants.

"The new income and assets limits passed by the SHC today would apply to all the applicants on the waiting list, but the limits are subject to review every year and before applicants are allocated with any PRH (public rental housing), their income and assets cannot exceed the limits applicable at the material time," she said.

An SHC spokesman said in a statement the changes were made "having regard to the current economic conditions, past practices in reviewing the income limits and the overall situation of the income limit adjustments".