the average rent of private residential flats in October recorded 36.2 yuan, down 2.2% month-on-month
After the rent returned to the historical high of 37.9 yuan in July this year, it immediately entered the adjustment stage. The rent has fallen for three consecutive months, and the decline has continued to widen, falling 1.1% in August, down 1.3% in September and 2.2% in October, with a cumulative drop of 4.5%. I believe that the rental trend will continue to fall. It is estimated that it will return to the low of 35.6 yuan in February this year. At present, there is only a difference of 1.6%.
The average rent of 36.2 yuan fell 2.2% month-on-month
According to Huang Liangsheng, Senior Co-Director of the Central Plains Real Estate Research Department, according to the newly signed leases of the Central Plains Property, the average rent of 107 large private residential estates in Hong Kong in October was 36.2 yuan per square foot, down 2.2% from 37.0 yuan in September. The decline was 44 months (more than three and a half years). The last rent adjustment was started in September 2018. At that time, the rent fell for 6 months, falling from a high of 37.8 yuan to a minimum of 35.6 yuan (February this year), with a cumulative decline of 6.2%. In March of this year, rents began to rebound and then returned to historical highs in just five months, during which time they rose by 6.5%.
Huijing Garden rent rose by 4.6% against the market
For the top ten blue-chip housing estates, the first city in Sha Tin recorded 41.5 yuan in October, down 2.4% month-on-month. Taikoo City fell 2.3%, Mobil New Village fell 2.0%, Laguna City fell 1.8%, Kingswood Villas fell 1.3%, Haiyi Peninsula fell 1.0% and Kornhill Garden fell 0.5%. The Xinghua Village rose 1.3%, the Huangpu Garden rose 2.8% and the Huijing Garden rose 4.6%.