Hong Kong home rents fall as owners cancel sale plans amid falling prices

Rents in Lohas Park dropped by up to 20 per cent last month. Photo: Dickson Lee

In the Lohas Park development in Tseung Kwan O, rents dropped by up to 20 per cent last month, taking rates back to the same level as early last year, according to Alvin Ma, a senior district manager at Midland Realty's branch in Tseung Kwan O.

Wednesday, 15 May, 2013, 3:06am 3 comments

Central office rents to decline further over woes in banking sector

Financial services firms are increasingly moving away from Central.

Office rental in Central, the most expensive worldwide, is set to extend its biggest decline since the global credit crisis, the world's two biggest property agents say.

11 Jan 2013 - 3:56am


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.

15 Aug 2012 - 10:54pm

Mak 'allowed tenant to sell' controversial flat

Secretary for Development Mak Chai-kwong authorised a civil-servant tenant to sell a flat that is a cause of controversy because of a 'cross-leasing' scheme, Lands Registry documents reportedly show.

The other civil servant, Tsang King-man, meanwhile rented his own flat to Mak and later authorised Mak to sell it, Apple Daily reported.

8 Jul 2012 - 12:00am

Make the rich pay for their fun

No one likes to subsidise the expensive private clubs that are the exclusive haunts of powerful tycoons and rich tai-tais. Yet however you spin it, this is what the government has been doing by leasing land to these clubs free of charge or for a token annual sum.

16 Dec 2011 - 12:00am

A property manager is a jack of all trades

If you love helping others solve their problem, the job of a property manager might be right for you. 'It is a property manager's duty to help tenants solve all sorts of problem - it can be a hygiene or security issue, or as simple as helping shoppers find their way in the mall,' says Passy Wong Wai-chung (below right), senior manager for leasing and management at Hang Lung Properties.

18 Nov 2011 - 12:00am

Economy, rent surge slow shops market

Leasing and sales of retail properties have slowed in the past two months as market turmoil and steep rises in rents and prices bite, agents say.

5 Oct 2011 - 12:00am

Developers attracted by a sense of history

Property developers are showing an increased interest in buying old colonial-style historic buildings as long-term investments.

Once reluctant to buy such buildings in the absence of an unambiguous government policy on their status and uncertainty over their future potential, developers are now throwing those cautions to the winds.

22 Jun 2011 - 12:00am

Doctor is accused of HK$2.2m rent scam

A public doctor was accused of embezzling more than HK$2.2 million in housing allowances by claiming rent on a flat he owned and asking another doctor to say he was the owner.

1 Jun 2011 - 12:00am

Home sales slip after policy address rebound

Property sales ended lower last week after their initial rebound following last month's policy address.

About 750 flats were sold from October 25 to 31 in the 50 leading housing estates monitored by Ricacorp Properties, down 2 per cent on the 804 deals recorded the previous week.

3 Nov 2010 - 12:00am

Growing demand in luxury residential sector

Rising demand amid the economic recovery, and the scarce supply of luxury stock could boost luxury rents in Hong Kong by 15 per cent in the next 12 months, Colliers International says. Data from Ricacorp Properties confirms the active leasing in the luxury market, with 274 deals transacted last month, up 21 per cent from May. The leasing volume is also the highest in 11 months.

21 Jul 2010 - 12:00am

40 groups stake claim to run redeveloped police quarters

Some 40 organisations have shown interest in running a creative industry business at the Hollywood Road police quarters site.

The response to the heritage site was keener than expected, chief assistant secretary for works Robin Lee Kui-biu said during a site visit, and the organisations would attend a workshop on Monday next week.

13 Apr 2010 - 12:00am

Iconic landmark 'is a masterpiece'

The striking China World Tower has emerged to dominate Beijing's skyline and attract local and multinational companies looking for top-grade office premises.

Rising to 330 metres, the newly completed, 81-storey commercial tower provides office, shopping, dining, entertainment and world-class hotels in the central business district (CBD).

26 Mar 2010 - 12:00am

A change of art

Let the bad times roll' could well serve as a slogan for Belinda Kruger's business. While auction houses and galleries are taking a hit in the global downturn, art leasing companies such as Kruger's are benefiting from the overall belt-tightening as managers rent rather than buy sculptures and paintings to boost their corporate image.

8 Jul 2009 - 12:00am

Tenants cool on market rentals

The government has been urged to be more flexible to attract tenants to wet markets after its auction of long-vacant stalls drew a cool response.

The call came from legislator Fred Li Wah-ming, who said he had told the Food and Environmental Hygiene Department before the auction that it should be more creative in its lease conditions.

7 Apr 2009 - 12:00am