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Typical rent rise in HK?

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  1. #1

    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

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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.

  3. #3

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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.


  4. #4

    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.


  5. #5

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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.

  6. #6

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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.

  7. #7

    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.

  8. #8

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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.

  9. #9

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    Like I said .. the pro-grade landlords usually do not mess around with astronomical increases. Like to have steady returns.

    JAherbert likes this.

  10. #10
    Quote Originally Posted by Trebor:
    Where do you live? Sounds great.
    Let me guess: Sea Ranch!
    MandM! and Scousebanana like this.

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