Quote:
Originally Posted by mpat
That is to control inflation or for something else ?
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I don't know the exact reasons behind it, but I guess it's the government listenning to the voice of most tenants that keep complaining about landlord's behaviour of increasing rents every year!
They capped it to 15% in 2005, then 7% in 2006 and now 5%.
I'm sure there was talks about a 7% cap every 2 years, but I don't know if it has been substitued by this 5% per year.
However, this 5% increase cap for 2008 is definitely a government law from midnight today!
Rammah