“Property Management Services Authority Annual Report 2023-24”
Presented to the Legislative Council
Embracing the New Era for Property Management

The Property Management Services Authority (PMSA) announced today that the “PMSA Annual Report 2023-24” (Annual Report) has been published in accordance with the requirement stipulated in the “Property Management Services Ordinance” (Cap. 626). The Annual Report, which has summarised key accomplishments of the PMSA from 1 April 2023 to 31 March 2024 and outlined future development plans, was presented to the Legislative Council today.

The three-year transitional period after the implementation of the property management (PM) industry licensing regime ended on 31 July 2023, signifying that the PM industry in Hong Kong has entered into a new era whereby PM companies and relevant practitioners are licensed and advancing towards enhanced quality and professionalism. Dr James Wong, Chairperson of the PMSA, said, “Insofar as the work of the PMSA or the overall development of the PM industry in Hong Kong was concerned, 2023-24 was a commemorative and symbolic year. The smooth transition of the PM industry licensing regime was attributed to the concerted efforts of different sectors in the community. Looking ahead, in addition to closely liaising with all stakeholders, the PMSA will carry the immense responsibility as it continues to take the active lead to strengthen ties with the PM industry in the Mainland and overseas so as to promote together the collaboration and integration of the PM industry in the Guangdong-Hong Kong-Macao Greater Bay Area as well as to align with the international PM community, thereby seizing development opportunities for the PM industry in Hong Kong such that professional and quality PM services can be provided with integrity to a wider community.”

The PMSA has continued to promote the healthy development of the industry following the ending of the transitional period and strived to further enhance the professional status and service standard of the industry for providing better quality services to the public through the three-pronged approach of “Regulating by Licensing”, “Setting Professional Standards” and “Encouraging Continuous Learning”.

Regarding licensing work, in addition to processing new licence applications submitted by PM practitioners and PM companies, the PMSA has also begun the processing of licence renewal applications of PM practitioners and PM companies following the ending of the transitional period. As of 30 September 2024, the PMSA has issued nearly 800 PM Company licences and around 20,000 PM Practitioner licences. Discounting those who have provisional PM Practitioner licence and thereafter obtained formal PM Practitioner licence as well as those who hold more than one class of licence, the actual number of licensed PM practitioners is close to 15,000.

Furthermore, the PMSA has also continued to formulate Codes of Conduct and relevant Best Practice Guides on various aspects of PM work in order to set out objective professional standards for the provision of PM services. Up to now, the PMSA has already issued 24 Codes and Guides in respect of different areas of PM. In addition to effectively strengthening corporate governance of PM companies, these Codes and Guides also assist PM companies to properly handle emergencies and accidents so as to minimise the impact on owners, tenants and the public, as well as to enhance the PM industry’s awareness in occupational and environmental safety, so as to provide a healthy and safe living and working environment for PM workers and members of the public.

The PMSA also announced in the year that as from 1 August 2023 onwards, conditions would be imposed in all newly issued and renewed PM Practitioner licences requiring mandatory participation in the Continuing Professional Development (CPD) Scheme which would be implemented in stages for the two classes of licensed PM Practitioners. PM Practitioner (Tier 1) licence holders are required to participate in the CPD Scheme on mandatory basis from 1 January 2024 onwards and PM Practitioner (Tier 2) licence holders are required to participate from 1 January 2025 onwards. The PMSA has also carried out preparatory work for the implementation of the CPD Scheme, so as to ensure that there would be adequate recognised activities/courses in the market and that licensed PM practitioners are provided with choices for continuous learning, thereby encouraging the industry to advance with time and provide PM services of enhanced quality and professionalism.

The Annual Report has been uploaded onto the PMSA website. Members of the public may click the link below for details:
https://www.pmsa.org.hk/ebook/en/