Hong Kong rental market continues to heat up. In the first half of the year, the proportion of residential rentals with monthly rents exceeding HKD 20,000 has increased to nearly 44%.

The Hong Kong rental market continues to heat up. In the first half of this year, the percentage of residential rentals in Hong Kong exceeding 20,000 Hong Kong dollars per month increased year-on-year. Liu Jiahui, chief analyst of Midland Realty, stated that based on residential rental cases facilitated by Midland Realty, the percentage of rentals exceeding 20,000 Hong Kong dollars per month in the first half of this year was approximately 43.9%, an increase of 3 percentage points compared to approximately 40.9% in the same period last year, which is related to the increase in residential rents. The percentage of rentals at or below 15,000 Hong Kong dollars per month decreased from approximately 28.3% in the first half of last year to approximately 26.9% in the first half of this year, a decrease of approximately 1.4 percentage points. The percentage of rentals between 15,000 and 20,000 Hong Kong dollars per month decreased from 30.8% to 29.2%, a decrease of approximately 1.6 percentage points. Nevertheless, in the first half of this year, the percentage of rentals at or below 20,000 Hong Kong dollars per month still accounted for more than half, approximately 56.1%. There were a significant number of residential rental cases in the first half of this year where the monthly rent increased compared to the previous year, with some exceeding 20,000 Hong Kong dollars. Liu Jiahui mentioned specific cases facilitated by Midland Realty, such as a unit in Block R of The Capitol in Park Island, where the monthly rent increased from 19,000 Hong Kong dollars at the beginning of last year to 21,200 Hong Kong dollars in April this year, a 11.6% increase; a unit in Block 9 of Seaview Crescent Phase 1 in Tsuen Wan, where the monthly rent increased from 19,500 Hong Kong dollars in March last year to 21,500 Hong Kong dollars in May this year, an increase of approximately 10.3%; and a unit in Block 6B of Belair Monte II in Tai Wai, where the monthly rent increased from 19,000 Hong Kong dollars in April last year to 20,800 Hong Kong dollars in June this year, an increase of approximately 9.5%.