The peak season is coming, creating a new high of 6 months.
Property prices have continued to rise, and rents have risen along with property prices. According to the data of the Lijiage Real Estate, the rents of the 50 largest housing estates in Hong Kong have risen for three months, moving towards the high of last August. The bank expects that although the Sino-US trade war has not deteriorated for a while, it is believed that rents are expected to continue to rise under the driving season of the summer holiday season.
According to the data of the Lijiage Real Estate Research Department, the weighted average practical rent of 50 indicator housing estates in Hong Kong in April 2019 was 36.59 yuan, up 0.8% from March’s 36.31 yuan, and rose for 3 months and 6 months. new highs.
In the last month, the rents of the index housing estates in Hong Kong Island, Kowloon and the New Territories were all upwards. The weighted average effective rents of the eight indicator estates on Hong Kong Island rose by 1.1% to $44.39, including the Blue Bay Peninsula. The real increase in the gross profit of the Group’s 21 index housing estates rose by 1.0% to HK$39.92. The weighted average useful rent for the 21 indicator housing estates in the New Territories was reported at $31.34, up by 0.5% month-on-month. For the number of rentals, the number of index housing estates in Hong Kong and the New Territories increased by 9% and 13% respectively, with 169 cases and 430 cases respectively. In Kowloon, the area was slightly reduced by 1% to 349 cases.
Lijiage material rent breaks through last August high
Chen Haichao, head of research department of Lijiage Real Estate, said that rents have gradually moved to the historical high in August last year. Although the Sino-US trade war has changed and deteriorated, it is expected that the impact on rents will be limited. It is believed that as the summer holiday season approaches, and tenants enter the market early. The index housing rents will continue to rise in the coming months.
Chen Haichao said that although the trade war between China and the United States suddenly became tight in May, the current property prices are still relatively hard, and it is not excluded that some prospective buyers or temporary purchases are rented, and they begin to enter the traditional summer vacation. During the peak season, it is believed that the rental trend in the next three to four months is expected to rise steadily. It is expected that the rent will be able to break through the historical high in August last year as early as June.