In the first quarter of 2024, the average monthly rent of private apartments in the Hong Kong Island region, the heart of Hong Kong, was between 386 and 457 Hong Kong dollars per square meter. Meanwhile, the median income for an individual was 18 thousand Hong Kong dollars per month.
In the first quarter of 2024, the average monthly rent for grade A office space in Hong Kong's Central district amounted to 954 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.
As of March 2023, the average monthly rent for public rental housing in Hong Kong's New Territories was 67 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 67 Hong Kong dollars per square meter per month on average, a private apartment in the same districts costs 257 Hong Kong dollar per month.
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 1,553 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.
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Hong Kong HK: Property Rental Index: 1999=100: Office data was reported at 254.700 1999=100 in Oct 2018. This records an increase from the previous number of 254.400 1999=100 for Sep 2018. Hong Kong HK: Property Rental Index: 1999=100: Office data is updated monthly, averaging 152.000 1999=100 from Jan 1993 (Median) to Oct 2018, with 310 observations. The data reached an all-time high of 254.700 1999=100 in Oct 2018 and a record low of 71.600 1999=100 in Sep 2003. Hong Kong HK: Property Rental Index: 1999=100: Office data remains active status in CEIC and is reported by Rating and Valuation Department. The data is categorized under Global Database’s Hong Kong SAR – Table HK.EB052: Office: Rental Index.
In 2019, the average monthly rent of a warehouse space in Hong Kong amounted to almost 188.6 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 300 and 350 U.S. dollars per month. Pricing in hyperscale cloud and wholesale colocation was less expensive, with monthly rent between 170 and 200 U.S. dollars for hyperscale, and 230 and 270 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.
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 1,352 Hong Kong dollars per square meter. The average rentals of private retail venues in New Territories were the lowest in the city.
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Hong Kong SAR (China) CPI (B): Weight: Housing: Rent, Including Rates: Private Housing data was reported at 25.480 % in 2006. This stayed constant from the previous number of 25.480 % for 2005. Hong Kong SAR (China) CPI (B): Weight: Housing: Rent, Including Rates: Private Housing data is updated yearly, averaging 25.480 % from Dec 1980 (Median) to 2006, with 27 observations. The data reached an all-time high of 25.480 % in 2006 and a record low of 25.480 % in 2006. Hong Kong SAR (China) CPI (B): Weight: Housing: Rent, Including Rates: Private Housing data remains active status in CEIC and is reported by Census and Statistics Department. The data is categorized under Global Database’s Hong Kong SAR (China) – Table HK.I064: Consumer Price Index (B): 10/99-9/00=100: Weights: Annual.
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Hong Kong CPI (C): Weights: Housing: Rent incl Rates data was reported at 26.110 % in 2010. This stayed constant from the previous number of 26.110 % for 2009. Hong Kong CPI (C): Weights: Housing: Rent incl Rates data is updated yearly, averaging 26.110 % from Dec 2006 (Median) to 2010, with 5 observations. The data reached an all-time high of 26.110 % in 2010 and a record low of 26.110 % in 2010. Hong Kong CPI (C): Weights: Housing: Rent incl Rates data remains active status in CEIC and is reported by Census and Statistics Department. The data is categorized under Global Database’s Hong Kong – Table HK.I048: Consumer Price Index (C): 10/04-9/05=100: Weights: Annual.
As of March 2023, the average living space of public rental housing tenants in Hong Kong was 13.8 square meters per person. In the same year, the proportion of households with living space per person below 5.5 square meters was 0.5 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.
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 287 U.S. dollars annually. In second and third market in the ranking, Hong Kong and Midtown New York, prices also exceeded 200 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.
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 7.61 thousand U.S. dollars per desk while the annual rent rate for conventional workstations was at approximately 27.43 thousand U.S. dollars, indicating a price difference of about 72 percent.
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Hong Kong SAR (China) Composite Consumer Price Index (CPI): Weights: Housing: Rent, Including Rates data was reported at 26.660 % in 2006. This stayed constant from the previous number of 26.660 % for 2005. Hong Kong SAR (China) Composite Consumer Price Index (CPI): Weights: Housing: Rent, Including Rates data is updated yearly, averaging 26.660 % from Dec 1980 (Median) to 2006, with 27 observations. The data reached an all-time high of 26.660 % in 2006 and a record low of 26.660 % in 2006. Hong Kong SAR (China) Composite Consumer Price Index (CPI): Weights: Housing: Rent, Including Rates data remains active status in CEIC and is reported by Census and Statistics Department. The data is categorized under Global Database’s Hong Kong SAR (China) – Table HK.I018: Composite Consumer Price Index: 10/99-9/00=100: Weights: Annual.
In the first half of 2020, the monthly rental price of a square foot of data center space in the four leading markets in the Asia Pacific region was between 1.1 U.S. dollar per square foot in Tokyo and 3.2 U.S. dollars in Hong Kong.
In the fourth quarter of 2023, prime office annual rental rate was 160 U.S. dollars per square foot in Hong Kong, the highest in the Asia-Pacific region. In comparison, the annual occupancy cost of prime office real estate in Kuala Lumpur was 18.4 U.S. dollars per square foot as of the fourth quarter of 2023.
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.
As of the second quarter of 2019, the average monthly rent in Shenzhen's Houhai business center was 26 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.
In the first quarter of 2024, the average monthly rent of private apartments in the Hong Kong Island region, the heart of Hong Kong, was between 386 and 457 Hong Kong dollars per square meter. Meanwhile, the median income for an individual was 18 thousand Hong Kong dollars per month.