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Hong Kong Island rents benefit most
Hong Kong Island rents benefit most 香港
By   Wen Wei Po 
  • 都市报
  • Rent
  • transaction market
  • housing demand
Abstract: With nearly 50,000 professionals coming to work in Hong Kong, the rental market is bolstered by the demand for housing, mainly from corporate executives and technical professionals.

According to the Centaline City Rent Index, there are 21 housing estates with a rent increase of more than 5% in May , with Hong Kong Island accounting for the largest number, 9, including Beverly Hills, which saw a 22.29% increase in a single month.

 

Centaline Property Research senior co-director Yang Ming Yi pointed out that the rental trend continues to expand, May Centaline City Rental Index CRI latest reported 112.78 points, up 1.40% month-on-month, the largest increase since August 2018, has risen through the summer high of 112.76 points in August last year, and a 15-month high, back to the level of February 2022.

 

The bank expects the peak rental season to come early as students and professionals have recently started pre-leasing units, stimulating an increase in the number of leases.

 Hong Kong Island rents benefit most

Divided by four districts, among the 138 constituent estates of the Centaline City Index in Hong Kong, a total of 21 housing estates in May rent rose by more than 5%, Hong Kong Island accounted for 9, of which Beverly Hills rose by as much as 22.29% month-on-month, the strongest in Hong Kong.

 

In addition, there are 4 in Kowloon, 6 in New Territories East, the least in New Territories West, only 2.

 

President of Ricacorp Liao Weiqiang pointed out that the government is vigorously importing talents this year, I believe that the next few months have been approved by the mainland talents will come to Hong Kong one after another, and the number of talents of the relevant plans is still increasing, the Hong Kong economy plays a key role in promoting the demand for housing is the driving force.

 

With the arrival of professionals in Hong Kong, the actual demand for housing is bound to increase greatly, and in the short term, residential rents will be the first to be pushed up, and then property prices will also benefit.

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