The number of luxury flat rental deals in Hong Kong continued to rise this year, buoyed by demand from wealthy mainland Chinese and Western expatriates, amid the city’s stock market rally and the government’s efforts to attract more affluent investors, according to agents.
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In the first nine months of the year, there were 168 deals for rentals that cost HK$100,000 (US$12,870) a month – a 10 per cent increase over the same period in 2024 – at The Peak and the Southern district, two of the city’s most exclusive enclaves, according to data compiled by Centaline Property Agency.
The total value of those rental transactions reached HK$44 million, up 5 per cent from a year earlier, Centaline data showed.
For Habitat Property, which specialises in luxury properties, its rental business has surged 30 per cent so far this year.
“We have had continued increases in mainland Chinese expats coming to Hong Kong, as it becomes easier to move for jobs,” said Victoria Allan, founder and CEO of Habitat Property.
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On the huge resurgence in expat leasing, Allan pointed out that “those who previously lived in the city and left during the Covid-19 pandemic are returning”.