Hong Kong's Wen Wei Po News (Reporter Leung Yuk Cum) Government repeated moves,some owners changed sold into rent,also July is the traditional leasing season,close to the University and large estates which along the railway were welcomed by the mainland students,the leasing significantly raise in July,Shatin City One's leasing rose 60 percent to 120 cases,rent per real ft rose 10 % to $31 HKD,of which 80% of visitors were mainland students,Olympic Station monthly rentals of over 160 cases,rose 6.6%,properties in other districts begun lack of supply,so the rent increased slightly.However, the industry estimates,due to policy of the city,the amount of the rent will increase continuously,with an estimated property prices,the trend of rents were expected weakening,the annual rent increases or narrowed to 5%.
Annual rent increases may narrowed
AP Residential Group Executive Director and Group Chief Executive Officer of Chan Kwan Hing said that in 2012/13 the number of mainland students studying in Hong Kong more than 10,000,becoming the force of our residential tenancy,tenancy significantly driven by demand.But due to policy of the city,the amount of rent will increase continuously,resulting in only the past six months,the cumulative gain of approximately 1.2% rental growth,compared with 8.4% in the second half of last year,an increase significantly eased,although the third season is a rental season,but it is expected the trend of rent increases were limited this year,the annual rent increases may narrowed to 5% level,among of all,Shatin City One small residential properties rental growth were expected outperform.
Confidence in the market outlook weak,expected the rental will appear fluctuations
Centaline Senior Associate Director of the Research Department of Urban transportation Wong leung Shing pointed out that although the summer is a rental season,but dragged down by the U.S. stance delisting,the local property market waiting to see atmosphere,weakened the public's confidence in the market,it's believed that the third season of rents will fluctuate followed by the prices continuously.
Review the rental market in July,Shatin City One become quite active,recorded a nearly 120 leasing transactions in July,the average utility foot lease $37 HKD,rose 10%.Centaline Lai Chun Yu said,of which 80% of mainland students rent properties, since Shatin Town have a serious shortage on rental in July,encourage students to go to Shatin City One for Rent.The transactions located in Flat F,9/F,Upper Floor,usable area 451 feet to $17,000 Hkd leased,practical ft $37.7 HKD,compared with the local prices of about 5-6% high,the new tenant is four mainland students which will study at city university.
Olympic leasing transactions rose 6.6% monthly
Olympic Station which is welcomed by mainland visitors settlements similarly,recorded a total of about 160 leasing transactions in July,
rise 6.6% monthly,real foot lease $ 40 HKD,comparable with the previous month.Hong Kong Property Man Ai Ling said One Silversea,Flat B,Tower 7,Upper Floor,utility area 959 feet to $39,000 HKD monthly,leased real sq.ft Rent $40.7 HKD,the tenant see the unit have affordable rental,rental yield nearly 3.5% per annum.
Tsim Sha Tsui Sorrento,there are owners rent reduction of 5.7% in order to attract customers.Midland Realty Peng Wen Hao noted that the unit is located in Flat G,Tower 2,Upper Floor,salable area of approximately 893 feet,the owners initially bid $35,000 HKD the company tenant bargaining,so the price discounted $2,000 HKD to $33,000 HKD leased the units,a decline of approximately 5.7 %,utility area sf lease $37 HKD.
Supply in TKO decreased,the turnovers fell 15%
The trading volume and rental in large estates of the other districts remained stable in July,the Centraline Tan Gui Ching pointed out that since Lohas Park in Tseung Kwan O Kai-collar occupation in June,there are hundreds of leasing units put on the market,making Tseung Kwan O leasing rose in June,so it cause the supply of units begun to decrease in July,the leasing transactions in TKO in July are about 423 cases,fall 15% on a monthly basis,real ft Rent $19 monthly,edged 1-2% monthly,as LOHAS City real ft Rent ranging from $13-19 HKD,also edge up 1-2%.
