Rental Market

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  1. #1

    Join Date
    Nov 2007
    Posts
    106

    Rental Market

    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?


  2. #2

    Join Date
    Aug 2005
    Location
    Clear Water Bay (In Da Jungle)
    Posts
    10,039

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


  3. #3

    Join Date
    Oct 2006
    Location
    Sarcasm - because beating the crap out of people is illegal
    Posts
    14,637

    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.


  4. #4

    Join Date
    Nov 2007
    Posts
    106
    Quote Originally Posted by wtbhotia:
    I reckon it might be able to hit 2007 level. My 2 cent.
    Quote Originally Posted by 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.
    How long will it take to reach 2007?? This is a million$$ qstn.

  5. #5

    Join Date
    Aug 2008
    Posts
    43

    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.