Hong Kong luxury rentals decline, mass market rentals shine

Posted: Jun 7 2014Last Updated: Jan 8 2016

10 May 2014 - In line with the state of the global economy, it’s no secret that employee benefits for expatriates moving to or living in Hong Kong have been reduced in recent years. In Hong Kong, mid and top-level expats at multinational corporations have been some of the most affected and have seen their housing budgets cut. This has forced them to seek out cheaper homes in alternative districts, exerting downward pressure on asking rates of luxury rentals in traditional districts such as Mid-Levels, while simultaneously pulling up demand for mid-range rentals in districts such as Tin Hau, Tai Hang, Quarry Bay and Western. 

This trend was observed in 2011 and continues to affect the market. 

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