Hong Kong’s luxury rental market is showing early signs of a rebound after languishing behind other major cities during the pandemic.
Prime residential rents, defined as the top 5% of the market, rose 1.9% in the first quarter, according to a report from real estate consultancy Knight Frank. More expats are returning to the city after strict pandemic rules fully lifted early this year, and a new talent visa is attracting high-earners and foreign graduates.
Knight Frank expects Hong Kong rents to rise 5% in 2023, a notable turnaround from a 3.6% decline in the 12-month period through March.
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