Hong Kong leads the world in skyscrapers, with 569 buildings taller than 150 metres. As the most vertical city on earth, it depends on lifts more than almost anywhere else. Yet a large share of those lifts are old: about 40% of the city’s lifts have been running for over 30 years – well past the standard 15–25 year service lifespan. On Hong Kong Island, the figure rises to 56%.
Ageing lifts do not simply mean inconvenience. They carry increasing safety risk, higher maintenance costs, and potential liability for owners. They also drag on a building’s reputation and appeal in a market where building quality matters to tenants and investors alike.
It is against this backdrop that the government first launched the Lift Modernisation Subsidy Scheme (LIMSS) in 2019 – and has now committed a further HK$1 billion to extend it in the 2026–27 Budget.
What is the LIMSS?
The LIMSS is a government programme administered by the Urban Renewal Authority (URA) that provides financial subsidies and one-stop professional support to eligible private building owners to modernise or fully replace aged lifts. It targets buildings whose lifts lack specified essential safety devices – covering the cost of installing those devices, or in many cases, replacing the lift entirely.
The scheme was originally launched in March 2019 with total funding of HK$4.51 billion, targeting approval for 8,000 aged lifts by March 2026. By March 2025, 5,700 lifts had been approved, but only around 1,127 (roughly 20%) had actually completed works, partly due to the impact of COVID-19 and a persistent shortage of registered lift mechanics.
The fresh HK$1 billion announced in the 2026 Budget is intended to continue that momentum and support buildings that have not yet applied or completed their upgrades.
Am I eligible?
To participate in LIMSS, your building must meet all of the following criteria:
- The building is a private residential or composite (commercial and residential) property – including buildings held by a Civil Servants’ Co-operative Building Society (CBS)
- The lifts in the building have not been equipped with some or all of the four essential safety devices listed below
- The average annual rateable value of all domestic units in the building does not exceed HK$162,000 in urban areas (including Sha Tin, Kwai Tsing and Tsuen Wan), or HK$124,000 in the New Territories. These thresholds may be updated when the URA opens a new application round under the extended scheme.
- You apply before tenders for a consultant or registered lift contractor have been invited (with limited exceptions)
- Buildings solely owned by the government, an individual, or a single organisation are excluded
If an owners’ corporation (OC) exists, the OC must be the applicant. For buildings without an OC, all owners must apply collectively. Forming an OC specifically to apply can itself attract a HK$3,000 formation subsidy.
How much can you receive?
Once approved, the subsidy structure is as follows:
| Subsidy Type | Amount |
|---|---|
| Standard subsidy per lift (up to 60% of eligible costs) | Capped at HK$500,000 |
| Additional subsidy for eligible elderly owner-occupiers aged 60 or above | Up to HK$50,000 per unit |
| Subsidy for forming a new owners’ corporation | HK$3,000 |
| Consultancy fee subsidy (if owner appoints their own consultant) | Up to HK$20,000 per lift |
Note that subsidies cannot be duplicated with other schemes such as Operation Building Bright 2.0, the Common Area Repair Works Subsidy, or energy efficiency funding programmes. If your building is already receiving support under another scheme for the same works, the URA will deduct accordingly.
What works are covered?
The subsidy applies to the installation of four essential safety devices (mandatory if not already present), a set of optional devices, and – where technically necessary or more cost-effective – complete replacement of the lift.
Essential safety devices
- Double brake system
- Unintended car movement protection device
- Ascending car overspeed protection device
- Car door mechanical lock and door safety edge
Optional safety devices (also covered)
- Intercom and CCTV system
- Obstruction switch
- Automatic rescue device
The scheme also covers lift drive replacement where this is technically necessary to install the essential safety devices, and full lift replacement where the lift lacks any or all of the essential devices and full replacement is the most practical solution.
Beyond safety, what this means for your property
The benefits of lift modernisation go well beyond regulatory compliance. For residential buildings, the lift is part of daily life for every resident. For commercial or composite buildings, it directly affects tenant experience and retention.
Lift modernisation is one of the few building upgrades that delivers near-immediate impact on perceived quality. A well-functioning, modern lift signals that a building is properly managed and maintained – and that signal matters to prospective tenants, buyers, and valuers. In older buildings where large-scale redevelopment is not viable, infrastructure upgrades like this become one of the primary levers for maintaining asset value over time.
How to apply
Applications are submitted to the URA, which provides a full one-stop service including scope assessment, cost estimation, tender document preparation via the Smart Tender e-tendering platform, and works supervision. The Building Rehabilitation Platform at brplatform.org.hk is the central resource for scheme documentation, application forms, and guidance notes.
How Monx can help
Navigating a major capital works programme involves more than just the physical upgrade. Owners’ corporations and landlords taking on LIMSS works need to think carefully about how subsidies are accounted for, how to manage OC funds and expenditure records, and – for commercial property owners – the tax treatment of capital improvement costs.
At Monx, we work with OCs, property companies, and individual landlords across Hong Kong on accounting, bookkeeping, and tax compliance. If you are planning a lift modernisation project and want to make sure your financial records and reporting are in order from day one, we are happy to talk.
