Hong Kong Residential rental momentum slows but prices remain resilient Property Trends Good to Know Popular Locations Sirva Tips Monthly rental rate thrived with a minor increment of On December 1, 2023, China implemented a unilateral Sai Ying Pun Ensure that assignees have suf昀椀cient funds on hand 0.3% month-on-month. visa-free policy for ordinary passport holders from Wan Chai to compete in the bidding process for popular France, Germany, Italy, the Netherlands, Spain, and properties. Rental rates remain resilient, especially for luxury Malaysia. This brings added convenience for look-see Tseung Kwan O properties in the Southern District. Timing is of the essence. If an assignee is really keen trip arrangements. A 4,759 square feet house in Shouson Hill in Island Lohas Park on an apartment, presenting a deposit is a good way Metro Line 5 east extension and Metro Line 7 Phase II to show sincerity and interest. South was leased out for HK$600,000 per month and have been in operation since December 28, bringing the a 4,190 square feet house in Residence Bel-Air Assignees are recommended to start searching for total mileage of Guangzhou Metro to 653 kilometers. Phase 5, Pokfulam, was leased out for HK$308,000 accommodations up to four weeks prior to their per month. Tenants are required to pay 50% of a month’s rental as desired move-in date. Volume of available properties is expected to rise a real estate agency commission fee. Landlords of the lower budget range of properties are steadily due to the government’s relaxation of Tenants are required to pay 1 month’s advance rental less open to negotiations. “cooling measures” and the in昀氀ux of Chinese and 2 months’ security deposit to secure their choice Landlords are more inclined to lease a unit to tenants mainland talent. property. who have an early start date. Tenants are placing more importance on the condition Common rental period term is a 2-year lease with a and renovation of apartment interiors. break clause. 1-to-2-bedroom units of 400 to 700 square feet are the most highly sought after apartment types.