Hong Kong's Wen Wei Po (Reporter Ngan Lun Lok)The property market continued the situation of 'the prices rose and the transaction volume fell', especially 'Units involved in small amount of price' showed the largest increase in property prices which have hit a new high record.Rent level is another important reference index,the recent prices surge at the same time.Centaline research statistics in May this year,Hong Kong 85 private residential housing estates with largw-scale with an average rent per sq ft of HKD $22.9,compared with April's HKD $22.6 rose by 1.3%,recorded the largest increase after 10 months since last July,ended three consecutive months of decline,recorded a four-month high.Since going into the summer rental season,it is believe that the rents continue upward,it is expected that in June,the rental sq.ft prices can hit a more historical high of HKD $23.1.
Centaline Senior Research Associate Director Wong Leung Shing pointed out that a significant rebound in private housing rentals,reflecting the buoyant property market sentiment,the better the job market and rising wages,improve the ability to pay the rent.Besides a strong desire to improve the living conditions of citizens,a steady increase in demand for rented stimulate, promote residential leasing market activities,the average rent rebound.
Properties involved in small amount of prices have the largest increases
As for Top-Ten blue-chip housing estates,there are 9 housing estates in May have recorded increases on rents.Of which,'Units involved in small amount of price' City One in Sha Tin have the largest increase on sq.ft rents,the construction area average rent recorded HKD $25.5 per sq.ft,with an increase of 3.2% on a monthly basis; followed Heng Fa Chuen,recorded a HKD $26.7, monthly increased by 2.7%;rents dropped is the only recorded in Whampoa Garden,with a monthly decrease of 3.4%.
Except Centaline,according to the Midland Realty 'Rent Chart' data, in May of this year in terms of GFA average rent of private buildings recorded approximately HKD $23.78,with a monthly rise of about 0.8%.Midland Realty chief analyst Lau Ka Fai said the property rents rose last month,it is believed that it is because of the upcoming summer rental season,major institutions and students seeking for rent properties,in this demand,so the trend has shown a decline of rent to rebound.
It is expected that the prices will be softened after the summer holiday
In fact, the data is similar to last year.Statistics show that the rent after the highs of last March to May,but benefited from the upcoming summer rental season to support recovery and post to the end of August after the summer once again softened.Lau Ka Fai means that although the rent increases were recorded, but it is believed to be caused due to the summer season,to be absorbed by the market demand after this batch is expected rents will again softened.He believes that the next two years is always significant increase in completions of private housings, will eventually cause stress on the future rent.
Ricacorp Properties Research Department data also show that the weighted average rent levels in the 50 indicators housing estates in May rose 1% when compared to the record in April,recorded the highest increases in nearly 10 months;as for the rental transactions of 50 index housing estates over the same period have recorded 992 cases,representing a slight decrease of 3% compared to April of 1,019 cases.
Ricacorp Properties head of research Chou Moon Kit pointed out that the recent recovery in the property market,the property prices decline gasping for breath. Benefiting from frequent occupation properties put up for leasing, stabilize rents decline,coupled with the district courts of the original rent index was missing the pull,the residential rents have rebounded.By region, the New Territories indicators estate rents rose significantly last month,the overall monthly rents rose 1.3%.Benefited from two-bedrooms rental units favorable and the mainland students pre-leasing the unit with high prices,led City One in Shatin and Tai Po Centre monthly rents soaring more than 3%, led the market.
Chou Moon Kit pointed out over the next couple of months will be a new properties occupation "window period",coupled with the rent Stoppage release, when "public charter" proposed rent material can prevail without a rent reduction remainder of visitors even rent soliciting passengers,pushing rents continue to rise.Summer season factors,coupled with an estimated overall demand compared to 3,4 months rent even more 10-20%,the overall rents are expected to rise before the end of the summer season of 2-3%.
