Real Estate
Hong Kong Rents Near Record High on Demand From Students, Expats
- Rising rents are an outlier in the slumping housing market
- Gains may not be sustained due to seasonality, income squeeze
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Hong Kong’s rents are poised to reach a record high, buoyed by an influx of mainland Chinese and foreign nationals to the city.
Rents have risen for six consecutive months to a five-year high, and are just 1.2% below a historical peak achieved in 2019, according to data from Midland Realty. The increase is being driven by mainland students arriving for the new academic school year, and foreigners entering under various immigration programs, said Midland’s chief analyst Buggle Lau.