Rents have soared 8.4% to a record high this year
The index for rent of private buildings was 186.5 points, up by 0.92% in September, a slight increase. The rent index rose for 10 consecutive months. This year’s cumulative increase was 8.4%, setting a new record high, with rents for medium and large-sized flats rising.
Large and medium-sized units led the rents
According to the Estimates released by the Hong Kong Private Apartments rent index, the latest report in September 186.5 points, up 0.92% month on month, an increase of 0.38% in August, an increase of 0.54 percentage points, reflecting the increase in rent increases. As for the first nine months of this year, the cumulative increase of 7.4% was even worse than the 10.6% increase in the property market.
The rent increase mainly concentrated in large and medium-sized flats. Among them, Units D and E with an area of 1,076 square feet or above index rose 155.7 points to 1.77%, surpassing the broader market. However, the size of A to C small and medium sized flats, which area was less than 1,076 square feet, was 190 points, up by only 0.85% on a monthly basis. For each unit category, Unit D of Unit 1,076 to 1,721 square feet rose by 1.78% MoM and reported a new 160.1 point increase. The increase was more pronounced in urban units, up 2.46% MoM.
Rental of private buildings continued to rise. The blue-chip house in Taikoo Shing, Quarry Bay Quarry Bay, with a 3-bedroom flat leased to nearly $ 50 per sq ft. The average monthly rent of similar units in September was $ 34,500. Sq ft, earlier rent to 34,500 yuan per month, rent 46 yuan per square foot.
However, Starbucks Silver Star Club low-rise room A, the latest recorded a lease, the monthly rent of 37,000 yuan, with a usable area of 749 square feet per unit basis, the flat rent of 49 yuan.
There are 3 medium-rise B rooms in Fo Shan Dragon Hill, with a salable area of 779 square feet and a 3-bedroom suite interval. Earlier it was rented at $ 31,000 and the actual lease was $ 39.8. The original owner purchased units of 801 million yuan in 2008, this time enjoying a 4.6% high rent return.