MIXED RENTAL SIGNALS
The luxury leasing market is sending mixed signals with more rentals but falling rents. Figures from Ricacorp show transactions in June were the highest in 11 months, at 232. New Territories performed the strongest with Palazzo in Fo Tan recording 55 per cent more deals than May. Transactions in Kowloon, however, fell. Jones Lang LaSalle says rents dropped 7.5 per cent in the first half of the year.