Moving home can be exciting but can also be a little overwhelming. Even more so if you are relocating to a country you’ve never lived in before. So why not turn to an expert to do the groundwork for you and help take the stress out of your property search? Jones Lang LaSalle(JLL)’s team of residential specialists in Hong Kong are on hand to help you make the right decision for your move.
Here, Laurie Lankester, Head of Residential at JLL gives us the lowdown on the Hong Kong property market and shares details of five hot new properties on the market.
As is common during the festive holiday season, Hong Kong’s residential leasing market saw a slight slowdown as the number of new arrivals to the city stayed flat. However, activity across the rental range between $30,000 to $80,000 remained relatively stable despite the off-peak season. Overall, market sentiment appears to indicate that the sales volume will decrease by up to 25% in early 2019. However, the picture should be clearer by the end of the second quarter of 2019.
With various factors such as Brexit, the US-China trade war, uncertainty in the sales market and the vacancy tax still looming, some units which had originally been built by large developers for sale have now been released to the leasing market — either for fully furnished, short-term or unfurnished long-term leases.
There are mixed views about how the slower sales market will affect the leasing market. It is possible that this change will see more rental demand and transactions across Hong Kong, so much so that the overall residential leasing market may not experience a downturn. We don’t expect a surge of newly available stock for lease to flood the market but rental levels and negotiability may be more subject to budgets and locations. It will also be easier to negotiate more competitive rentals in areas where there is higher availability of stock.
Properties for rent
Area: Siu Lam
Rent: $150,000- $170,000 incl.
Size: 4,868-4,908 sq. ft
Bedrooms: 5 (including 4 ensuites)
Property reference number: 54968
Updated date: 21-Dec-18
An embodiment of contemporary design, the spacious house is an ideal home for peaceful living in Siu Lam in Yuen Long. Each house has a private garden, swimming pool, rooftop, internal elevator and covered car parking spaces. Provides exceptional privacy with clubhouse facilities including a gym room, children’s den and function room.
Modern and bright
Size: 2,185 sq. ft
Property reference number: 9124
Updated date: 8-Feb-19
Prestigious apartment with excellent property management and facilities. Features floor-to-ceiling windows across the length of the living and dining room to allow for maximum daylight. Convenient powder room in close proximity to the dining area. Bright interior with floor-to-ceiling windows across the front. Furnishing and fittings are meticulously chosen and finished to ensure a high standard of living.
Rent: $110,000 incl.
Size: 1,826 sq. ft
Property reference number: 21262
Updated date: 22-Jan-19
Duplex penthouse with floor-to-ceiling windows offering amazing views of Central. Master bedroom includes a wall of built-in wardrobes, and the en-suite bathroom includes a bathtub, walk-in shower and dual wash basins. Rare rooftop included in the apartment located in Mid-Levels.
Spacious and contemporary
Area: The Peak
Rent: $135,000 per month
Size: 2,715 sq. ft
Property reference number: 19350
Updated date: 15-Jan-19
Apartment on the Peak with an exceptionally high ceiling, and the perfect pairing of cream-coloured walls and dark wooden flooring. Huge terrace with glamorous view is connected to the living area through full-height windows that can fold away to merge the living area with the outdoors. This spacious area combines contemporary luxury living with the charms of the Peak.
Stylish beachside apartment
Area: Repulse Bay
Size: 1,437 sq. ft
Property reference number: 24726
Updated date: 8-Feb-19
A stylish duplex apartment in Repulse Bay with light wooden floors and large windows. Renovated beachside apartment with spacious bedrooms. Clubhouse facilities and shuttle bus services are available to residents. Features stunning sea views from every corner of the apartment.
See more in our Living in Hong Kong section
This article first appeared in the February/March 2019 issue of Expat Living magazine. Subscribe now so you never miss an issue.