Luxury residential leasing market records solid growth in 2Q15

Which market is active among core districts?

The luxury residential leasing market has seen strong growth in the second quarter.

According to a research note from Savills, central Midlevels is proving to be the most active market among all the core districts.

Budgets of around HK$100,000 per month saw the fastest pick up (Queen’s Garden and Dynasty Court), mostly from fi nancial services firms such as insurers, hedge funds and asset managers.

Here's more from Savills:

The recent Stock Connect scheme as well as the IPO pipeline are likely to be behind the turnaround in sentiment.

Savills second quarter luxury residential indices have revealed that rental growth across all districts and sectors was in positive territory.

Leading the growth was Midlevels at 6.6% Q-o-Q, followed by Kowloon at 5.1%. Overall luxury apartment rents rose by 3.6%, ahead of townhouse rents which recorded a rise of 1.8%, and well in front of serviced apartment rents which grew by a marginal 0.7% over the quarter.