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Jones Lang LaSalle: Hong Kong residential rent continues to rise, with the residential rent index only 3% away from its historical high in 2019.
The average rental return on Class A residences (units with an area of 431 square feet or less) reached a new high in June, the highest since 2012.
Jones Lang Lasalle: Residential rents are only 3% away from historical highs.
According to the "Hong Kong Residential Sales Market Overview" released by Jones Lang Lasalle today (5th), while residential rents continue to rise, the private residential rent index is only 3% lower than the historical high in 2019. The average rental return rate for Class A residences (units below 431 square feet) has reached a new high since 2012 in June. According to the Rating and Valuation Department's private residential property rent index, Class A, B, and C units have risen 6.9% year-on-year in July 2024, reaching the highest level since 2019. The current private residential rent index is only 3.0% lower than the historical high in 2019.