The average rent per square foot of 50 housing estates is 36 yuan

Anti-modification storms continue to affect Hong Kong, in addition to making the property market wait and see atmosphere stronger, residential rents also continue to fall

according to data from the Lijia Court Real Estate Research Department, the weighted average of 50 index private housing estates in Hong Kong in November this year is practical The rent per square foot was reported at 36.05 yuan, down 0.35 yuan or 1% from the 36.4 yuan recorded in October. The figure fell for four consecutive months, a record low of 8 months since the March record of 36.31 yuan.

At the same time, the cumulative increase in rents in the first 11 months of the year narrowed further to about 0.6%.

In November, a total of 773 housing rental transactions were recorded for 50 index housing estates, a slight decrease of 8 or about 1% compared with 781 in October, which has hovered at a similar level for 3 consecutive months. In addition, the transaction volume of the 50 index housing estates dropped by 25% in November, reflecting the relatively stable trend of leasing transactions over the same period. Last month, the 50 index housing estates accounted for nearly 61% of the overall transaction, an increase of about 6.9 percentage points month-on-month.

Cumulative gains narrowed to 0.6% in first November

Mr. Chen Haichao, head of the research department of Lijia Pavilion, said that after entering the second half of the year, the market sentiment has deteriorated, and rents and property prices have fallen. The overall leasing market has been weak. Hovering in a narrow range. Chen Xu pointed out that near the end of the year, the rental service is even more sparse, and it is expected that the number of rental housing estates in the 50 index in December may fall further to a level of about 750.

Expect rents to fall another 1% this month

In terms of rents, private house rents have fallen for 4 months since peaking in July this year (the monthly report was 37.9 yuan); Chen expects that the off-season during Christmas, New Year’s Day and even the Lunar New Year will continue to soften, and it is expected that December Another fall of 1% to about 35.69 yuan indicates that the annual rent will fall by nearly 0.5%. It is believed that the market outlook will continue to decline, and the opportunity for improvement will be as soon as possible after the Lunar New Year.


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