Savills

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Hong Kong Residential Leasing - September 2024

Article

Contacts & Related Research

 

 Surge in Relocations Amid Shifting Market Dynamics

  • Significant relocations within Southside driven by extensive renovations at Pacific View.
  • The luxury apartments index in Kowloon experienced a notable increase of 2.7%.
  • Long-term tenants from Mid-Levels are relocating to Southside for larger apartments and better views within similar budgets.
  • Expatriate professionals in the banking sector are returning with reduced budgets.
  • Mainland talents are increasingly favouring new developments on Kowloon side due to budget constraints.

Some intra and inter-district relocations are noted in Q2 with traditional leasing stock being either renovated or stratified, while newcomers favouring emerging districts across the harbour with newer developments.

Jack Tong, Director of Savills Research & Consultancy
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