Demand for hong kong rentals rises

Demand is rising for rental property in Hong Kong, according to Knight Frank.

The agency's latest report shows that in July, sales of new-build residential homes jumped 95.5 per cent year-on-year. Nonetheless, resale activity remained slow, keeping overall activity low.

Rental demand for luxury homes "slightly improved" towards the end of the second quarter, meanwhile, as expat families sought homes ahead of the start of a new school year. Tighter budgets and a shift towards personal leases meant that rental values remained steady.