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Typical rent rise in HK?

  1. #1

    Join Date
    Dec 2015
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    Typical rent rise in HK?

    We're just approaching the end of our first 2 years in HK and therefore the end of the lease on our apartment in HK. We really like where we live and would prefer to stay, subject to the rent review being reasonable. Does anyone have any idea of what the going % increase for rent renewal currently is?


  2. #2

    Join Date
    Feb 2015
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    The RVD provides stats on rents.
    See the below doc, in particular slide 1.5 depending on where the unit is and its size.
    You can then compare figures between 2015 and up to Aug 2017.

    Broadly speaking seems rent have increased 10% in 2 years ?

    * edit: seems smaller units in the NTs have seen their rent increase a lot more than the others, close to 15%.


    http://www.rvd.gov.hk/doc/en/statistics/full.pdf

    Last edited by jrkob; 10-10-2017 at 10:52 AM.
    Scousebanana likes this.

  3. #3

    Join Date
    Dec 2009
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    Depends where you live and what type of property. Just pay how much you are willing to afford vs cost of moving to another department.

    Scousebanana likes this.

  4. #4

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    How long is a piece of string...we have had rent increases from 4% to 10%. many ppl here will give you horror stories of huge increases. All depends on your relationship with your LL and how greedy they are.


  5. #5

    Join Date
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    Depends on building/area/Landlord etc.. To start with, check Centadata/ Midland for latest rental transactions in your building..

    Wow! 4 replies in a minute, Geo becoming very helpful or we are all entering retirement mode..


  6. #6

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    Dec 2015
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    Thanks for replying so quickly. I had heard the horror stories about landlords prior to finding a place in HK, but our experience has been ok so far. The whole block of 80 apartments is owned by a single commercial landlord and is managed by Savills and we are well looked after - right from having the locks changed at no cost and our pictures hung up on our walls by the resident maintenance manager when we first moved in, through to now. I know the landlord is in the process of upgrading the pool area and clubhouse and I'm hoping not too much of it is passed on to us in rent rises, but obviously we don't mind paying a reasonable increase.


  7. #7

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    Quote Originally Posted by Scousebanana
    I'm hoping not too much of it is passed on to us in rent rises.
    the tenant pays for every dollar, including any perceived improvement, plus the cost of collecting those dollars.

    to check the price, go to a local estate agent to find out the current rent for your building, that will give you a good indication.
    BCD likes this.

  8. #8

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    The larger landlords (public listed / reit types... not the single building owners) are usually quite sensitive to keeping yields within normal ranges - they typically don't go for 20%-50% type increases for single properties / individual units.

    Refurb costs etc ... down to a science, spread out over dozens if not hundreds of properties.

    If it is a single building property owner... I'd be worried, if not, don't sweat it too much.. check rents at the estate agents.

    Scousebanana likes this.
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  9. #9

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    Dec 2015
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    Following on from my original post, I thought I would come back with an update. We just had confirmation that the Landlord is happy for us to renew our lease with no increase! Having had a look at the rents for other similar properties, our rent seemed pretty reasonable and I had anticipated a rise of up to 10%, so it's come as a pleasant surprise. There are currently a few empty units and we get on well with the management team, so I guess that helps.

    chuckster007, WMDS, shri and 3 others like this.

  10. #10

    Join Date
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    Quote Originally Posted by Scousebanana
    Following on from my original post, I thought I would come back with an update. We just had confirmation that the Landlord is happy for us to renew our lease with no increase! Having had a look at the rents for other similar properties, our rent seemed pretty reasonable and I had anticipated a rise of up to 10%, so it's come as a pleasant surprise. There are currently a few empty units and we get on well with the management team, so I guess that helps.
    Where do you live? Sounds great.

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