Savills sees strengthening demand from Western expatriates and mainland talent tightening supply in prime rental market
Leasing activity in Hong Kong’s luxury residential sector is showing signs of renewed strength, with a property consultancy estimating rents may climb between three and five per cent next year.
The uptick is attributed chiefly to a surge of returning Western expatriates and local professionals, arriving as the city’s wider business environment recovers.
The research firm noted that leasing transactions are expected to exceed the 660 recorded last year, indicating a sustained rebound in high-end rental demand.
Analysts also pointed to a tightening in prime-unit supply as major projects undergo renovations, further bolstering upward pressure on rents.
Tenant profiles are evolving: European expatriates working in finance are now paying HK$70,000 to HK$80,000 per month for larger units in Mid-Levels, while Indian technology professionals are seeking homes in Western Mid-Levels at budgets of HK$50,000 to HK$60,000.
Meanwhile, mainland-Chinese professionals benefitting from talent-recruitment schemes are active in emerging areas such as Nam Cheong and Olympic Station, often with budgets around HK$30,000 to HK$40,000.
The resurgence in luxury leasing is supported by broader corporate momentum.
Official data show the number of local companies registered in Hong Kong reached 1.5 million by July, while overseas enterprises, including those from the US and Europe, are establishing new regional bases in the city.
This revitalised corporate presence is translating into housing demand in the upper segment.
Despite the positive signals, analysts stress that rent growth will remain “stable to gently rising” and largely dependent on how supply dynamics evolve.
With prime stock limited and tenant relocation still rising, Hong Kong’s luxury rental market appears well-positioned to make a sustained recovery in 2025.
The uptick is attributed chiefly to a surge of returning Western expatriates and local professionals, arriving as the city’s wider business environment recovers.
The research firm noted that leasing transactions are expected to exceed the 660 recorded last year, indicating a sustained rebound in high-end rental demand.
Analysts also pointed to a tightening in prime-unit supply as major projects undergo renovations, further bolstering upward pressure on rents.
Tenant profiles are evolving: European expatriates working in finance are now paying HK$70,000 to HK$80,000 per month for larger units in Mid-Levels, while Indian technology professionals are seeking homes in Western Mid-Levels at budgets of HK$50,000 to HK$60,000.
Meanwhile, mainland-Chinese professionals benefitting from talent-recruitment schemes are active in emerging areas such as Nam Cheong and Olympic Station, often with budgets around HK$30,000 to HK$40,000.
The resurgence in luxury leasing is supported by broader corporate momentum.
Official data show the number of local companies registered in Hong Kong reached 1.5 million by July, while overseas enterprises, including those from the US and Europe, are establishing new regional bases in the city.
This revitalised corporate presence is translating into housing demand in the upper segment.
Despite the positive signals, analysts stress that rent growth will remain “stable to gently rising” and largely dependent on how supply dynamics evolve.
With prime stock limited and tenant relocation still rising, Hong Kong’s luxury rental market appears well-positioned to make a sustained recovery in 2025.







































