Rental Market

[mmsG]

Financial turmoil is hitting in the HK property market now. Are rents decreasing in TC?
The below stats are from Centaline and rental prices are average.
Simple Stats:
TungChung CresecentOct'07 7xx sf Flat --> HK$7500
Oct'08 7xx sf Flat --> HK$900-9500
Cosatal Skyline
Oct'07 6xx sf Flat --> HK$7200
Oct'08 6xx sf Flat --> HK$9000
Carribbean Coast
Oct'07 7xx sf Flat --> HK$6500-7000
Oct'08 7xx sf Flat --> HK$8000-8500
Seaview Cresecent
Oct'07 7xx sf Flat --> HK$7500
Oct'08 7xx sf Flat --> HK$9000-10000

Will the rental market cool down to 2007?

[wtbhotia]

I reckon it might be able to hit 2007 level. My 2 cent.

[Claire ex-ax]

I have friends who live in CC and CS. According to them the prices for flats for sale in the agents' windows are being slashed. Rents should follow suit later I believe.

[mmsG]

I reckon it might be able to hit 2007 level. My 2 cent.

I have friends who live in CC and CS. According to them the prices for flats for sale in the agents' windows are being slashed. Rents should follow suit later I believe.

How long will it take to reach 2007?? This is a million$$ qstn.

[sterling168]

If there is a massive layoff or slowdown in the airline industry, then we can expect rental prices in TC to slide down. Otherwise, a 5% drop is the most you can expect in the next 12 months. The occupancy rate is still high except for those flats that owners want to sell than rent out at this time.