Slowdown in the rise of rents of private housing

Inflation stimulates 14.8% increase in 7 consecutive months 　 Article from (Reporter: Chow Wing) Since global capital flooded and raised the commodity prices, the latest inflation rate in September is 3.8%, which further expands from the figure in August. Inflation raises the property price and so records have been braokem in properties. According to statistics of Centaline, the average rent price of 85 private housing estates is HKD 21.7 per square feet, which is an increase of 1.9% when compared to August. This is a high record in 3 consecutive months. Centaline expects that the rent will further increase to around HKD 22.8 per square feet. 　 In fact, affected by the traditional seasonal trend, the raise of rent decreases since March. Centaline Research department co-director Wong LeungSing points out that the demand of user increases and so as the rents. Since the ability of paying the rent is getting higher, it stimulates the market to raise the rent. Moreover, inflation has a positive effect on raising the rent. Average rent price: HKD21.7 per square feet 　 The rent in private housing has been raised in 7 consecutive months. The average price has already been raised from HKD 18.9 per square feet to HKD21.7 per square feet. The rate exceeds 14.8%. On ther other hand, the average rent price in the first 9 months has been raised 11.3%. Wong LeungSing expects that the rent will raise according to the property price and is expected that it will arrive HKD 22.8 per square feet. 　 Counting in seasons, the third quarter private housing estate average rent price is HKD21.7 per square feet, when compared to last quarter HKD20.3 per square feet, it raises 6.9%. Rents are increasing consecutively in 2 quarters and so reflect the good effect on property market under the support of the users. Sceneway Garden raises 13.6% 　 In the top 10 housing estates, there are half of them raise more than 10%. In particular for Lam Tin Sceneway Garden, the average rent price has raised the most. The 3rd quarter has raised 13.6%. City One Shatin ranked the second and increases 11.7%. And the third position is Tin Shui Wai Kingswood Villa 11.1%. The other 5 housing estate, Whompoa Garden raises 8.9%, Laguna City 4.6%, Taikoo Shing 4.5%, MeiFoo Estate 3.1% and Heng Fa Cheun 2.8%.

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