Estimated rents for Hong Kong luxury homes owned by Stephen Chow and Andy Lau increase

Quick Summary:

Rateable value is an estimate of the annual rental value of a property on the open market at a designated valuation reference date.

In January, an index tracking rents rose by 0.42 per cent month-on-month, while lived-in home prices fell to their lowest point in eight years, according to the government data.“[The rateable value] reflects that the overall residential leasing market remains upbeat,” said Lucia Leung, director of research and consultancy at Knight Frank.“In the luxury segment, we have observed that some foreign professionals from international firms are planning to relocate back to Hong Kong with their families, seeking well-decorated flats with monthly rents ranging from HK$70,000 to HK$120,000,” she said.“Meanwhile, some affluent individuals from the mainland are able to afford premium accommodations with monthly rents reaching up to HK$200,000.

The metric serves as a barometer of the city’s rental market as the segment has edged up while home prices remained in a slump.

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Article Details

Author / Journalist: Salina Li

Category: Business

Markets: Hong Kong

Topics: According Rateable Rental Value Stephen Rents Data Market Hong Kong Valuation

Source Website Secure: Yes (HTTPS)

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Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-18 @ 07:30:14 (15 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 291 words

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