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What will rents do the next year?

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  1. #1

    Join Date
    Feb 2008
    Posts
    126

    What will rents do the next year?

    I realize nobody has a crystal ball. We're currently renegotiating our 3rd rental contract and we've been going back and forth. They have now offered us the option for only 1 year (starting next month) for $1000 a month more (compared to a 2-year 12+2 and only able to break if we leave HKG, which is unlikely). We're in the high end rental market anyway, so percentage wise it's a small difference. My husband and I agree it's probably better to pay the $1000 extra for only 1 year and renegotiate next April or May as we're also considering moving (as we did this year).

    Just wondering what everybody's expectations are within the next year. Up, down, stable?


  2. #2

    Join Date
    Oct 2006
    Location
    Hong Kong
    Posts
    15,557

    They could go up, they could go down, or they could stay the same.

    carang likes this.

  3. #3

    Join Date
    Feb 2009
    Posts
    8,279

    12+2 means you can leave after 14 months. 1 year means what, you can leave after 12 months?

    So its 12 months or 14 months, not a big difference to me. Why are you bothering to even contemplate between these 2 options? Or do I misunderstand what you are saying?


  4. #4

    Join Date
    Jun 2004
    Location
    HK
    Posts
    14,624

    I know I know:

    DeletedUser, Packycusher: The market will crash we are all doom, it's overprice, run run little people
    Randy: It's all good, it's going to go up and up and up, enjoy it

    You're welcome.


  5. #5

    Join Date
    Mar 2007
    Posts
    13,099

    You forgot DG : Hong Kong is just not as civilized as where I came from; I dont know why I'm still here.
    Moving : Hey, move to Gold Coast.
    HC : There is nothing better than Happy Valley

    On a more serious note, I personally think the rents will go down in a year...things are looking dodgy on the property front.


  6. #6

    Join Date
    Feb 2011
    Location
    Hong Kong
    Posts
    6,317

    Everyone said it would drop 10-20% this summer but nothing, seems flat.

    Sent from my GT-I9100 using GeoClicks Mobile


  7. #7

    Join Date
    Jun 2004
    Location
    HK
    Posts
    14,624
    Quote Originally Posted by booth:
    , seems flat.

    Sent from my GT-I9100 using GeoClicks Mobile
    Except it isn't really flat so far. it's up for a few months now. Until when is the question of course and for this we can rely on our Real Estate brigade on Geo to discuss it

  8. #8

    Join Date
    Mar 2007
    Posts
    13,099

    Summer starts Wednesday, June 20, 2012, and ends Friday, September 21, 2012...
    We have 4 more months to go before we can judge that prediction....
    If Greece takes an exit, there is no telling what might happen....


  9. #9

    Join Date
    May 2010
    Posts
    4,713
    "prices will continue to go up before they come down"

  10. #10

    Join Date
    Jun 2010
    Location
    Tuen Mun
    Posts
    6,191

    My small piece of experience:

    When we were looking to rent about 6 months ago, rental prices were going up in Tuen Mun, now they've gone down by about 15% I guess. I can only base this on what I looked at folks!

    6 months ago, everyone in my commercial building was panicking about rents going up, well my renewal just sailed by and the rent stayed the same! My feeling is rents will remain flat for the next year or so but a year is a long time!!


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