Typical tenant profile in Hong Kong's residential leasing market starts to shift

There are less "traditional" western expats.

It has been noted that in Hong Kong's residential leasing sector, the typical tenant profile has shifted.

According to a research note from Savills, it is seeing fewer ‘traditional’ western expatriates and more Asians.

This includes Indians as well as Mainland and Hong Kong returnees.

Here's more from Savills:

Below HK$100,000 per month, budgets of HK$50,000 to HK$80,000 per month remain popular while the bigger HK$300,000 to HK$500,000 per month band is still very quiet.

In Southside, developments such as The Repulse Bay, Repulse Bay Apartments and The Lily continue to attract tenants while over in Kowloon, The Austin and The Coronation are both leasing well.

Kowloon’s attraction lies in the new stock alongside its relative convenience. Getting in to Central from the area is now arguably easier than commuting from Mid-levels where Conduit, Robinson and Caine Roads are all increasingly prone to congestion.

Sai Kung is seeing steady demand and rental rises there, previously so rapid, have slowed. A decent village
house with a pool and garden (and possibly an illegal structure or two) will now cost around HK$150,000 per month.

Although much improved with good supermarkets in Tseung Kwan O and Choi Hung, shopping is far from convenient and the area tends to attract people more driven by the local ambience and outdoor lifestyle than anything else.