RENTS HEAD DOWN

A regional report by Savills has found rents for high-end apartments in Hong Kong, Singapore and Seoul have entered an 'early downswing' stage. At US$100 per square metre, Hong Kong's luxury apartments are the second most expensive in Asia after Tokyo, which is at a 'late downswing' stage. Rents for prime villas and town houses in Hong Kong are at a 'late upswing' stage, at US$129 per square foot, which is more expensive than Beijing, Shanghai and Singapore.