The Hong Kong leasing market continues to heat up, and the share of residential leases with monthly rent exceeding HK$20,000 rose to nearly 44% in the first half of the year

The Zhitong Finance App learned that the Hong Kong rental market continues to heat up. In the first half of this year, Hong Kong's residential rental ratio with monthly rent of over HK$20,000 rose year on year. Liu Jiahui, chief analyst at Midland Properties, said that in the first half of this year, leases with monthly rent exceeding HK$20,000 accounted for about 43.9%, an increase of 3 percentage points over the same period last year.

The share of leases with monthly rent of HK$15,000 or less decreased from about 28.3% in the first half of last year to about 26.9% in the first half of this year; while the share of leases over HK$15,000 to HK$20,000 per month decreased by about 1.6 percentage points from 30.8% to 29.2%. Despite this, the share of leases with monthly rent of HK$20,000 or less in the first half of this year was still more than half, accounting for about 56.1%.

In the first half of this year, a number of residential rental cases were recorded, with monthly rents rising year-on-year, and some surpassed the level of HK$20,000. Lau Ka-fai said that taking the leasing case brokered by Midland Property as an example, the monthly rent for the 5 R low-rise A-flat units in Lingdu at the beginning of last year climbed from HK$19,000 at the beginning of last year to HK$212,000 in April this year, an increase of 11.6%; Tsuen Wan Sea Love Phase 1, the monthly rent was also raised from HK$19,500 in March last year to HK$21,500 in May this year Yuan, an increase of about 10.3%; the monthly rent for a mid-floor E unit in Block 6B, Park Aozhuang II, Tai Wai rose from HK$19,000 in April last year to HK$20,800 in June this year, an increase of about 9.5%.