Am currently renegotiating my HK$15,500 lease on a nicely furnished 670 sq.ft. flat in Tower 25 and wondering if should brace myself for an increase or try and negotiate a drop. Any thoughts gratefully received
Please support our advertisers:
When does the new MTR line open?
That might trigger at least a 10% rise in rents, and maybe less than that in property prices
> http://hongkong.asiaxpat.com/forums/hong-kong-property/threads/a36912bc-de8b-4693-bc44-97f4f342615b/mtr+extensions+3a+investment+implications/
Please support our advertisers:
I thought that the increase had already been factored in a year or two back
Please support our advertisers:
The Centaline CCI, an index of property prices, rose from 120 or so last June to 141 at present (with the last few weeks more or less stable), a rise of around 16%overall in Hong Kong. Rental costs generally follow purchase costs although they do not usually match exactly.
Centaline CCI link below:
http://www1.centadata.com/cci/cci_e.htm
If I were you I'd go in to an estate agent and ask what the going rental rate is ahead of your negotiation.
Please support our advertisers:
"I thought that the increase had already been factored in a year or two back "
Certainly not into RENTS. How could it be???
Do you think people would pay a higher rent, for transportation they cannot yet use??
Rents will certainly jump, when the MTR trains start running, and maybe start moving higher a few months earlier, since the rental period might extend into the period when trains are running
Please support our advertisers:
I meant into the property value
Please support our advertisers:
From my experience in Sai Ying Pun - the MTR price increase crept in ~3 years prior to opening followed by another ~10% jump after the MTR doors opened
Please support our advertisers:
rents have already jumped at this locale.......
Lots of mainlanders moving in/buying in, for the last several years really.
Please support our advertisers:
according to latest transaction, the rent is about 16.5k for 669 sq ft.
Please support our advertisers:
Please support our advertisers:
You must be logged in to be able to reply.
Login now
Copy Link
Facebook
Gmail
Mail