Hong Kong Residential Leasing

Landlords are utilizing the stable rental renewal growth rate in prime areas to maintain occupancy levels.

May 2015

 
  • Average luxury apartment rents have now bottomed out, and the vacancy rate has fallen to a new low.
  • Rents on Hong Kong Island rose by 2.0% in Q1/2015, amid the bottoming out of luxury rents  and alongside the recovery of the Grade A office market. Leasing was mainly active in the rental range of HK$50,000 to HK$80,000 per month.
  • Townhouse rents also stabilised in Q1/2015, with fewer vacancies.
  • Landlords have been very flexible in terms of lease renewal and are generally not willing to let units stand vacant.
  • kamaco noted that leasing activity has been driven by a variety of sectors setting up new or additional offices in Hong Kong – mainly in retail and IT services.
 
 

Key contacts

Simon Smith

Simon Smith

Senior Director
Research & Consultancy

kamaco Two Exchange Square

+852 2842 4573

 

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