Hong Kong Residential Leasing

Housing Investment Consultancy
Residential Leasing

July 2016

Luxury rents were broadly stable in the second quarter despite a lack of traditional demand from MNCs and banks.

Vacancies in the luxury apartment segment remain low and budgets of HK$40,000 to HK$100,000 per month are most active.

We have noticed a shift in tenant profiles over the past few months as Mainlanders who have recently obtained Hong Kong ID cards look for top end apartments to rent.

Luxury apartment and townhouse rents remained stable over Q2/2016, despite a lack of traditional demand from senior executives of MNCs and banks.

Housing budgets in the banking, insurance and legal industries are 40% below what they were at the peak in 2012 and if anything, the tendency is still to downsize.

We saw a 0.3% rise in Kowloon rents but a 1.0% fall in rents in the New Territories.

We witnessed a stronger downward pressure on rents in the lower-end segment of the serviced apartment market.

 

Key contacts

Simon Smith

Simon Smith

Senior Director / Head of Research & Consultancy
Research & Consultancy

Two Exchange Square

+852 2842 4573

 

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