Noticing huge drops in rental prices

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  1. #21

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    Maybe, but the segment of the market where rentals can drop 50K per month is tiny and very dependant on the fortunes of the Gambling Bankers. For those of us in the real world who have to live with the mess that those people created the data from this very small market segment is irrelevant. The modal rental of respondents to a poll on this forum was, if I recall correctly, in the range $15-19K / month.

    Last edited by PDLM; 06-12-2008 at 08:27 PM.

  2. #22

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    Maybe but not everyone in a higher rental bracket is a banker. The majority in the houses in our road are not in banking. Also, many of the bankers who have lost their jobs, were doing a good job, themselves.


  3. #23

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    My lease was up. Landlord literally begged me not to move out. Anyone else experience something similar?


  4. #24

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    Quote Originally Posted by chowfun:
    My lease was up. Landlord literally begged me not to move out. Anyone else experience something similar?
    No, but we can hope! Did you try and bargain your rent down?

  5. #25

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    Smile Nope

    Quote Originally Posted by jayinhongkong:
    No, but we can hope! Did you try and bargain your rent down?
    I didn't bother because at the current rate, I was able to relocate to a much better location.

  6. #26

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    We're signing a lease tomorrow for a bigger place, much higher efficiency and fully renovated, for less than what we pay now (this is Happy Valley). We were able to knock 10% off of asking price no problem, got the lease date we wanted (March vs. February). Landlords seem to be more than willing to negotiate...with the notable exception of our current landlord, who had the gall to send us a letter asking for $5K more and a two year fixed lease! It will be the sweetest revenge to tell him to stuff it (in a nice way of course)!


  7. #27

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    Quote Originally Posted by chowfun:
    My lease was up. Landlord literally begged me not to move out. Anyone else experience something similar?
    yes and offered to lower the rent. we had already decided to move though. got an extra 200 sq ft and are paying the same price. also got the best part of a month rent free. it is a renter's market, but I worry what will happen once the market changes. this time next year, I could be faced with a landlord adding several thousand to my rent. happened to me in Singapore in 2007. landlords put rents up by 50%.

  8. #28

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    Quote Originally Posted by shenwen:
    yes and offered to lower the rent. we had already decided to move though. got an extra 200 sq ft and are paying the same price. also got the best part of a month rent free. it is a renter's market, but I worry what will happen once the market changes. this time next year, I could be faced with a landlord adding several thousand to my rent. happened to me in Singapore in 2007. landlords put rents up by 50%.
    I wouldn't think the increase will be that drastic or, in my humble opinion, that quick in terms of market recovery.

  9. #29

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    Quote Originally Posted by shenwen:
    yes and offered to lower the rent. we had already decided to move though. got an extra 200 sq ft and are paying the same price. also got the best part of a month rent free. it is a renter's market, but I worry what will happen once the market changes. this time next year, I could be faced with a landlord adding several thousand to my rent. happened to me in Singapore in 2007. landlords put rents up by 50%.
    I agree with you comments:
    * Now is the time to find a cheaper apartment - there are definitely deals to be done.
    * And don't expect much sympathy when the rents turn and the landlord want to increase your rent by 20%+

  10. #30

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    for your information : according to my landlady.

    In bellagio a 3 bedroom seaview appartement middle high floor that went 6 months ago for 15500 HKD, will now go between 11-12k. (more 11k then 12 she says. depends how fast you want it rented out)