Ho Man Tin and Shouson Hill tipped for Hong Kong’s highest residential rent increases in 2018
Convenience and accessibility seem to be the main drivers: areas affected by new MTR line and stations predicted to have the highest increases. Meanwhile Sham Shui Po, Prince Edward and Braemar Hill are expected to have the steepest drops
It’s a question constantly in the minds of many Hongkongers: which districts offer the best value for money when it comes to renting? As areas become gentrified, more accessible or fall out of favour, rents are subject to fluctuations over time.
New research based on algorithms taking into account past movements in Hong Kong’s residential property market indicates which neighbourhoods will see the greatest rises and falls in rent in 2018.
The area predicted to see the biggest increase in rentals in 2018 on Hong Kong Island is Shouson Hill, with a 16 per cent rise. Other areas expected to become more expensive to rent a home include Ap Lei Chau (12 per cent), Deep Water Bay (10 per cent), Sheung Wan and Tai Hang (both eight per cent).
In Kowloon, the figures predict the biggest increase in home rentals in Ho Man Tin (18 per cent), with the next highest areas being Mong Kok (13 per cent), Jordan (nine per cent), Tsim Sha Tsui (seven per cent), and Hung Hom (six per cent).