Hong Kong Residential Rental Index Surges 70% Over the Past Five Years

Hong Kong residential rental index surges 70% over the past five years. Find the best immigration information on the Worldway official investment immigration website.

世贸通
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       Immigrate to Hong Kong and settle in Hong Kong: Hong Kong is the preferred immigration destination for mainland investment immigration families. Although the Hong Kong Immigration Department adjusted the Capital Investment Entrant Scheme on October 14, 2010, and applicants for Hong Kong investment immigration can no longer invest in real estate, the development of the Hong Kong property market remains one of the areas of greatest concern.
Hong Kong Residential Rental Index Surges 70% Over the Past Five Years

According to experts, data from the Rating and Valuation Department of Hong Kong shows that from 2009 to the present, Hong Kong's residential rental index has risen from 96.1 in 2009 to 160.7, a surge of nearly 70%. 70% is the average across Hong Kong. In specific areas such as City One Shatin, where middle-class families reside, a small unit with a saleable area of only 284 square feet has seen its monthly rent soar from approximately HK$6,000 in 2009 to between HK$11,000 and HK$12,000 recently, an increase of nearly 100%.

In contrast to the growth in housing prices, Hong Kong's wage levels have only increased by 25% during the same period. According to statistics, the median monthly household income in Hong Kong has risen from HK$17,500 in 2009 to HK$21,900 this year.

Today, young families in Hong Kong cannot afford to buy homes, and even renting is no longer easy.

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