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Will rents come down?

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  1. #41

    Join Date
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    More news from SCMP today about rent drops of 20% in some areas.

    http://www.scmp.com/property/hong-ko...ale-plans-amid


  2. #42

    Join Date
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    Quote Originally Posted by britsys:
    More news from SCMP today about rent drops of 20% in some areas.

    http://www.scmp.com/property/hong-ko...ale-plans-amid
    I keep looking at my building, and prices haven't changed. I think these 20% drops "in some areas" are few and far between, so newsworthy. 95% of buildings haven't really changed, in my humble opinion.

  3. #43

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    So my situation update.

    Original rent increase proposal - c.14.2%

    Then got it negotiated down to a c.7.1% increase.

    Further negotiations resulted in it getting it reduced to a c. 5.4% increase.

    I'm trying to push them down to agree a c. 3.6% increase, but I think we have reached a bit of an impasse. If I want to stay I will have to agree to the 5.4% increase (which is what I think we will end up doing).


  4. #44

    Take it and be happy (assuming you like living there), and stop back trading.

    You don't want your LL nursing a grudge, by agreeing to 7%, and then cutting and cutting


  5. #45
    Quote Originally Posted by cheepo:
    I keep looking at my building, and prices haven't changed. I think these 20% drops "in some areas" are few and far between, so newsworthy. 95% of buildings haven't really changed, in my humble opinion.
    Sure.
    Read the article carefully - don't let the Agents brainwash you.
    That was one flat, in an oversupplied area - And its seasonal lowpoint now
    shri likes this.

  6. #46

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    Quote Originally Posted by OffThePeak:
    Take it and be happy (assuming you like living there), and stop back trading.

    You don't want your LL nursing a grudge, by agreeing to 7%, and then cutting and cutting
    Did not agree to anything yet.

    Sent from my Nexus 4 using Tapatalk 2

  7. #47

    (Will they go on paying high rents?
    If so, HK Property investors should see some steady demand):

    Working expatriates like to stay in Hong Kong longer: poll
    South China Morning Post - ‎5 hours ago‎

    Hong Kong ranks behind only the United Arab Emirates as the most popular place - where professionals working abroad want to stay longer, a survey has found.

    /see: http://www.scmp.com/news/hong-kong/a...ng-longer-poll

    Football16 likes this.

  8. #48

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    Quote Originally Posted by pin:
    So my situation update.

    Original rent increase proposal - c.14.2%

    Then got it negotiated down to a c.7.1% increase.

    Further negotiations resulted in it getting it reduced to a c. 5.4% increase.

    I'm trying to push them down to agree a c. 3.6% increase, but I think we have reached a bit of an impasse. If I want to stay I will have to agree to the 5.4% increase (which is what I think we will end up doing).
    Final update, LL wouldn't budge, we agreed on the 5.4% increase, same terms as before.

  9. #49

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    Great interactive chart below

    UK & HK both have similar issues from similar restrictive land use policies

    http://www.economist.com/blogs/daily...rices?fsrc=rss


  10. #50
    Quote Originally Posted by pin:
    Final update, LL wouldn't budge, we agreed on the 5.4% increase, same terms as before.
    Not a bad result.
    It probably would have been an 8 -10% rise had you been negotiating a few months ago. Rents seem to be off their peak in some areas, and this is normally a "slow" time of year for rentals. If you are lucky, you will be able to Buy a place, or negotiate a lower rent in 12 months time.

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