Colliers International: Average rent for private residential properties in Hong Kong has increased for five consecutive months, with an estimated rise of about 3% in the third quarter.

According to the "Rent Trend Chart" of Centaline, the average rent per square foot of private residential properties in Hong Kong in June, calculated by usable area, is about 38.3 Hong Kong dollars, an increase of about 0.52% compared to the previous month, marking the fifth consecutive month of increase and the largest increase in five months. The rent per square foot has reached a new high in nearly 6 years (71 months) and is approaching the record high in July 2019, with a difference of less than 0.1%. Centaline Property's Chief Analyst, Liu Jiahui, pointed out that as we enter the traditional peak rental season in the third quarter, along with more mainland students coming to Hong Kong to study, it is expected that rental demand will increase significantly, driving rents to further rise and break historical highs. It is expected that rents will rise by about 3% in the third quarter, especially in areas near universities. If we look at the top ten housing estates, the average rent per square foot in June saw "8 increases and 2 decreases". Among them, the average usable rent per square foot in Mei Foo Sun Chuen in June was about 34.9 Hong Kong dollars, an increase of about 4.8% compared to the previous month, the highest increase among the top ten housing estates. The next highest increase was in City One Shatin, with a rent increase of about 4.2%. As for Whampoa Garden, Regalia Bay, Sinfoni Garden, and South Horizons, their rent increased by about 2.1% to about 3.3% compared to the previous month. Among the top ten housing estates, Riviera Gardens and The Arbuthnot Terrace saw a decrease in rent, with the former slightly decreasing by about 0.4% and the latter decreasing by about 1.3%. In terms of housing estates along the railway line, the rent increase in some estates in June was more significant than in the top ten housing estates, with Sha Tin Central Station in Sha Tin Center seeing a rent increase of about 9.4%, Regency Park in Lai Chi Kok Station and Park Island in Olympic Station both seeing increases of about 7.2% and 6.9% respectively. Lung Shan Estate in Fo Tan Station and The Hudson in Kennedy Town Station saw rent increases of about 5.9% and 5.8% respectively, outperforming Mei Foo Sun Chuen, which had the best performance in the top ten housing estates.