In the fourth quarter of 2024, the average monthly rent of private apartments in the Hong Kong Island region, the heart of Hong Kong, was between *** and *** Hong Kong dollars per square meter. Meanwhile, the median income for an individual was ** thousand Hong Kong dollars per month.

As of March 2024, the average monthly rent for public rental housing in Hong Kong's New Territories was ** Hong Kong dollars per square meters. These type of apartments were rent-controlled and therefore were significantly cheaper than their private counterparts. For instance, whereas public housing in the New Territories costs ** Hong Kong dollars per square meter per month on average, a private apartment in the same districts costs *** Hong Kong dollar per month.

In the fourth quarter of 2024, the average monthly rent for grade A office space in Hong Kong's Central district amounted to *** Hong Kong dollars per square meter. Central had the most expensive office real estate among all districts in the city. Compared to other major cities in the Asia-Pacific region, Hong Kong had the highest average rent for grade A office real estate.

In 2019, the average monthly rent of a private retail space in Hong Kong Island, traditional financial and business hub of Hong Kong, amounted to ***** Hong Kong dollars per square meter. The average rentals of private retail venues in Hong Kong Island are the highest in the city, which is largely affected by the incoming tourist destination spots.

In 2019, the average monthly rent of a private retail space in Kowloon, a shopping, arts, and entertainment district of Hong Kong, amounted to 1,399 Hong Kong dollars per square meter. The average rentals of private retail venues in Kowloon were only surpassed by the ones in Hong Kong Island.

In 2019, the average monthly rent of a warehouse space in Hong Kong amounted to almost ***** Hong Kong dollars per square meter. The demand of warehouses has been increasing in Hong Kong, consistently driving the rental prices up.

In the first half of 2020, the rental price of retail colocation space in Hong Kong was between *** and *** U.S. dollars per month. Pricing in hyperscale cloud and wholesale colocation was less expensive, with monthly rent between *** and *** U.S. dollars for hyperscale, and *** and *** U.S. dollars for wholesale colocation. Hyperscale data centers have the largest power requirements and customers are usually a cloud or large tech company. Wholesale and retail colocation, on the other hand, have smaller power requirements.

Housing Index in Hong Kong increased to 136.68 points in July 6 from 136.56 points in the previous week. This dataset provides - Hong Kong House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Hong Kong HK: (DC)Natural Gas Rents: % of GDP data was reported at 0.000 % in 2016. This stayed constant from the previous number of 0.000 % for 2015. Hong Kong HK: (DC)Natural Gas Rents: % of GDP data is updated yearly, averaging 0.000 % from Dec 1971 (Median) to 2016, with 46 observations. Hong Kong HK: (DC)Natural Gas Rents: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Hong Kong SAR – Table HK.World Bank.WDI: Land Use, Protected Areas and National Wealth. Natural gas rents are the difference between the value of natural gas production at regional prices and total costs of production.; ; World Bank staff estimates based on sources and methods described in 'The Changing Wealth of Nations 2018: Building a Sustainable Future' (Lange et al 2018).; Weighted average;

HK: Forest Rents: % of GDP data was reported at 0.001 % in 2016. This records an increase from the previous number of 0.001 % for 2015. HK: Forest Rents: % of GDP data is updated yearly, averaging 0.001 % from Dec 1970 (Median) to 2016, with 47 observations. The data reached an all-time high of 0.007 % in 1973 and a record low of 0.001 % in 2000. HK: Forest Rents: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Hong Kong SAR – Table HK.World Bank.WDI: Land Use, Protected Areas and National Wealth. Forest rents are roundwood harvest times the product of regional prices and a regional rental rate.; ; World Bank staff estimates based on sources and methods described in 'The Changing Wealth of Nations 2018: Building a Sustainable Future' (Lange et al 2018).; Weighted average;

In 2019, the average monthly rent of a private retail space in New Territories, one of the three main regions of Hong Kong, amounted to ***** Hong Kong dollars per square meter. The average rentals of private retail venues in New Territories were the lowest in the city.

Hong Kong HK: Total Natural Resources Rents: % of GDP data was reported at 0.001 % in 2016. This records an increase from the previous number of 0.001 % for 2015. Hong Kong HK: Total Natural Resources Rents: % of GDP data is updated yearly, averaging 0.001 % from Dec 1970 (Median) to 2016, with 47 observations. The data reached an all-time high of 0.010 % in 1970 and a record low of 0.001 % in 2000. Hong Kong HK: Total Natural Resources Rents: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Hong Kong SAR – Table HK.World Bank.WDI: Land Use, Protected Areas and National Wealth. Total natural resources rents are the sum of oil rents, natural gas rents, coal rents (hard and soft), mineral rents, and forest rents.; ; World Bank staff estimates based on sources and methods described in 'The Changing Wealth of Nations 2018: Building a Sustainable Future' (Lange et al 2018).; Weighted average;

As of March 2024, the average living space of public rental housing tenants in Hong Kong was 13.9 square meters per person. In the same year, the proportion of households with living space per person below 5.5 square meters was 0.4 percent.

In 2020, the average monthly residential rent in New York was 2,870 U.S. dollars. Abu Dhabi and Hong Kong had the next highest average rental rates at 2,838 and 2,682 U.S. dollars respectively.

The statistic shows the cost comparison between flexible and conventional office renting in the Asia Pacific region in 2018, broken down by city. In that year, the average annual rent rate for flexible workspaces in Hong Kong amounted to around **** thousand U.S. dollars per desk while the annual rent rate for conventional workstations was at approximately ***** thousand U.S. dollars, indicating a price difference of about ** percent.

In 2019, the grade A office rent in Hong Kong amounted to 110 U.S. dollars per square foot per annum. Comparatively, the average grade A office rent in Chengdu was approximately 16 U.S. dollars per square foot per annum in 2019.

In the third quarter of 2024, London (West End) was the market with the most expensive prime office space worldwide. The net effective cost for a prime office in London cost close to *** U.S. dollars annually. In second and third market in the ranking, Hong Kong and Midtown New York, prices also exceeded *** U.S. dollars per square foot. The global office real estate sector was severely affected by the coronavirus pandemic and the political and economic uncertainty that followed. With many companies placing expansion plans on hold and transitioning to hybrid working models, vacancies across many markets spiked and leasing activity slowed down.

As of the second quarter of 2019, the average monthly rent in Shenzhen's Houhai business center was ** Hong Kong dollars per square foot gross floor space. As an essential city in the China's Greater Bay Area, Shenzhen is home of many of China's high-tech companies, attracting lots of start-ups there.

Portugal, Canada, and the United States were the countries with the highest house price to income ratio in 2024. In all three countries, the index exceeded 130 index points, while the average for all OECD countries stood at 116.2 index points. The index measures the development of housing affordability and is calculated by dividing nominal house price by nominal disposable income per head, with 2015 set as a base year when the index amounted to 100. An index value of 120, for example, would mean that house price growth has outpaced income growth by 20 percent since 2015. How have house prices worldwide changed since the COVID-19 pandemic? House prices started to rise gradually after the global financial crisis (2007–2008), but this trend accelerated with the pandemic. The countries with advanced economies, which usually have mature housing markets, experienced stronger growth than countries with emerging economies. Real house price growth (accounting for inflation) peaked in 2022 and has since lost some of the gain. Although, many countries experienced a decline in house prices, the global house price index shows that property prices in 2023 were still substantially higher than before COVID-19. Renting vs. buying In the past, house prices have grown faster than rents. However, the home affordability has been declining notably, with a direct impact on rental prices. As people struggle to buy a property of their own, they often turn to rental accommodation. This has resulted in a growing demand for rental apartments and soaring rental prices.

San Francisco's office rental market showcases significant variation across its submarkets, with Mission Bay commanding the highest rates at *** U.S. dollars per square foot in the third quarter of 2024. This premium location demanded nearly double the city's average rate, highlighting the stark differences in desirability and demand within the city's commercial real estate landscape. Economic powerhouse The San Francisco Bay Area's economic prowess is evident in its impressive economic growth over the past 20 years. The city's strength is fueled by the presence of major technology companies and a thriving startup ecosystem. The region's economic significance extends beyond local boundaries, contributing substantially to California's position as the state with the highest GDP in the country. This economic vitality helps explain the sustained demand for office space across various San Francisco submarkets. Offices: global context and market trends In a global context, San Francisco's office rental rates are relatively high but not the most expensive worldwide. In 2024, London, Hong Kong, and New York emerged as the top three most expensive office rental markets globally. Over the past five years, San Francisco has experienced a decline in office rents. This trend aligns with broader shifts in the office real estate sector, influenced by the COVID-19 pandemic and the rise of hybrid work. Despite these challenges, certain San Francisco submarkets like Mission Bay and The Presidio continue to command premium rates, reflecting their enduring appeal to commercial tenants.