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HK Rental Prices & Protests - Up or Down?

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  1. #1

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    Lightbulb HK Rental Prices & Protests - Up or Down?

    Curious if anyone has factual or anecdotal evidence about trends in rental prices over the past few months?

    Are landlords becoming more reasonable re rental increases or lease terms?

    Can't help hoping that home rental prices will take a plunge given how viciously they have risen over the past few years.


    Not sure how many people are actually emigrating from HK and what impact that might have on rentals in certain 'expat hot spots'.

    Any renters, agents or landlords here that have a view?

    Example rental prices from about a year ago - NOV2018

    1) 3 beds at Grand Austin at Austin Station in Jordan - ~950 sq ft livable - Rents went from about 35K to 45K/50k

    2) 3 beds at Caribbean Coast in Tung Chung - ~900 sq ft livable - Rents in the range of 23K

    3) 3 beds at Sorrento in Kowloon Station - ~800 sq ft livable- Rents ranged from 33K to 60K

    4) 3 beds in Tuen Mun - ~900 sq ft livable - brand new developments like Blooms way and Avignon had flats going for 20K to 30K

    5) 3 beds at Le Prestige in Lohas Park _ ~970 sq ft livable - for rent from 24K to 32K

    Would be great to hear more about what's happening in your neighborhood as it will be lease renegotiation time shortly for me 😌


  2. #2

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    ?


  3. #3

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    You can try rental transaction data under Centaline for specific estates.

    Centadata - Grand Austin

    Sorry not to be able to be of more assistance.


  4. #4
    bdw
    bdw is offline

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    I'm leaving HK in a few weeks and will be renting my apartment in Shining Heights, Tai Kok Tsui, 3 bed with maids room, 865sqf liveable (1200 gross). Hopefully I can get around $30k - $32k for it. Visited 4 real estate agents today and they said its very quiet at the moment but prices have not dropped much. If I drop $1k or $2k should be able to find someone. Once I move out on 18th December I'll probably do this and I'd prefer to get someone in it quickly rather than have an empty flat for too long. I'll update in a month or two with how successful I've been .


  5. #5

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    Prices of the Yoho developments dropped slightly immediately after the Yuen Long attack. Real estate agent of mine actually called to ask if I was interested.


  6. #6

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    Quote Originally Posted by bdw:
    I'm leaving HK in a few weeks and will be renting my apartment in Shining Heights, Tai Kok Tsui, 3 bed with maids room, 865sqf liveable (1200 gross). Hopefully I can get around $30k - $32k for it. Visited 4 real estate agents today and they said its very quiet at the moment but prices have not dropped much. If I drop $1k or $2k should be able to find someone. Once I move out on 18th December I'll probably do this and I'd prefer to get someone in it quickly rather than have an empty flat for too long. I'll update in a month or two with how successful I've been .
    Why would they drop. No changes in any policy on restricting land sales

  7. #7

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    Sep 2018
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    Anecdata: I managed to negotiate a small decrease when I renewed my rental contract last month.


  8. #8

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    Jun 2018
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    Anecdotal - small decrease but only after I gave termination notice


  9. #9

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    I negotiated a 2k reduction on the listed price of my apartment recently. And the agents all said it's quiet when I pushed them on it. I was also looking at a brand new 2 bed + storage/maids room in Quarry Bay. They started at 30k. I said I'd pay 20k (I was being a bit cheeky but didn't want it otherwise). Anyway, I kept looking a d stayed in touch with a couple of agents over the last 3 months. Eventually one has said they will rent it for 20k. Some others have dropped to 23k. And despite this some are still holding out for around 30k for the exact same apartment. So I guess it just depends on how much the landlord needs his/her apartment rented


  10. #10

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    Wondering if anyone has seen or experienced home rental price drops in any particular areas lately?

    Are we seeing more flexibility with lease terms and/or deposits?


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