Real Estate Development

Hong Kong remains most expensive market for prime rentals

Hong Kong has tens of thousands of UHNW residents. Graphic credit rating: Knight Frank

Even as a result of the midst of the COVID-19 pandemic and political division, Hong Kong remains the most pricey city to hire a luxury condominium, according to new results from Knight Frank.

At the finish of 2020, primary rents in Hong Kong averaged $six.70 per sq. foot, indicating an affluent tenant with a price range of $10,000 per thirty day period would be in a position to hire a lot less than 1,five hundred sq. toes there. Though primary hire charges in some cities did dip at the start off of the pandemic as residents left for more spacious lodging, urban markets are viewing recoveries.

“As before long as the passenger figures return by using the main transport hubs, we will see a rather speedy correction of the recent hire reductions,” stated David Mumby, head

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