For a two-bedroom apartment of less than 50 square meters, the monthly rent was as high as HK$34,000. This is not a fantasy, but a real case of renting a house in the heart of Hong Kong right now. This summer, the rental market in Hong Kong completely “went crazy”. The rent index not only recorded the biggest increase in the past 9 years, but also broke the traditional pattern of falling back in the off-season, showing a strong upward trend. What is behind this sharp rise in rents is a sharp collision between the huge demand of the three major groups and scarce supply. With the influx of mainland professionals brought about by the “Gao Caitong Program,” the number of non-local students surged, and the return of foreigners such as overseas executives accelerated, real demand for housing was transmitted to the private housing market, forming strong rent support. Meanwhile, the strong rise in rents also confirms the overall recovery of the fundamentals of the Hong Kong property market. With the support of the simultaneous rise in housing prices, the motivation and confidence of the owners continues to grow. Facing a gap of 100,000 grade residential units that will be difficult to fill in the short term, many major foreign investors have predicted that rents will continue to rise this year. Against the backdrop of structural imbalances between supply and demand, it may be difficult to “go back” in the short term for rents in the core area of Hong Kong.

For a two-bedroom apartment of less than 50 square meters, the monthly rent was as high as HK$34,000. This is not a fantasy, but a real case of renting a house in the heart of Hong Kong right now. This summer, the rental market in Hong Kong completely “went crazy”. The rent index not only recorded the biggest increase in the past 9 years, but also broke the traditional pattern of falling back in the off-season, showing a strong upward trend. What is behind this sharp rise in rents is a sharp collision between the huge demand of the three major groups and scarce supply. With the influx of mainland professionals brought about by the “Gao Caitong Program,” the number of non-local students surged, and the return of foreigners such as overseas executives accelerated, real demand for housing was transmitted to the private housing market, forming strong rent support. Meanwhile, the strong rise in rents also confirms the overall recovery of the fundamentals of the Hong Kong property market. With the support of the simultaneous rise in housing prices, the motivation and confidence of the owners continues to grow. Facing a gap of 100,000 grade residential units that will be difficult to fill in the short term, many major foreign investors have predicted that rents will continue to rise this year. Against the backdrop of structural imbalances between supply and demand, it may be difficult to “go back” in the short term for rents in the core area of Hong Kong.