Expensive in the world! Hong Kong rents fall by 5%, and it remains the most expensive city for expatriate managers in the world

Social News

Author: Zheng Qiuling

2021-04-14 14:39

Last update date: 2021-04-14 14:39

Hong Kong property prices and rents are high.

ECA International, a human resources consulting firm, announced a survey of international executive-level managers. Hong Kong’s rent level has dropped by 5% this year, but it still ranks among the most expensive cities in the world for expatriate housing rents, ranking first for the fourth consecutive year, expatriate management The rental expenses of personnel in Hong Kong are higher than in New York and Tokyo.

The investigation pointed out that the average monthly rent for an unfurnished mid-range three-bedroom unit in an area where international administrative-level managers currently stationed in Hong Kong resides in the usual residence of the relevant class is about US$10,769 (equivalent to HK$83,466).

However, the survey did not specifically indicate which subregion of Hong Kong the relevant "usual residential area" belongs to.

ECA International released a report that surveys and compares the rental costs of expatriate employees in more than 360 regions around the world. The average rent will be calculated based on expatriate managers who are mid-range and unfurnished three-bedroom units in the market.

The survey results show that the average monthly rent for international executive-level managers stationed in Hong Kong is approximately US$10,769, which is a decrease of nearly 5% from last year’s RMB 11,318. However, it is still the most expensive city for expatriates in the world.

New York and Tokyo still rank second and third respectively.

According to analysis by Guan Lilian, Asia Regional Director of ECA International, affected by the epidemic, the number of employees stationed in Hong Kong is limited. In addition, socio-political pressures continue to affect the economy, and the unemployment rate hits high levels. All of these have significantly reduced the market demand for high-end housing, but the rental level in Hong Kong is still far Higher than other cities in Asia and New York.

▼Chief Executive Carrie Lam Cheng Yuet-ngor announced on April 12 new anti-epidemic measures▼

+11

+11

+11

▼“New Way to Fight the Epidemic” Maintain social distancing measures for two weeks▼

+11

+11

+11

Vaccine Bubble | The Hong Kong Government pushes for injections to relax restrictions on restaurant business to vaccinate citizens: it is difficult to implement

New crown pneumonia | He Boliang worries that the mutant virus invades communities and bans flights from four places including the Philippines

Vaccine Bubble｜Huang Jielong: Employers should not pressure employees to maintain the current situation in the industry

Closed area detection | About 780 people in Lido Garden, Sham Tseng submitted samples, no confirmed cases were found

The government announced the extension of social distancing measures on the 14th from 4.29 on the basis of the "vaccine bubble" adjustment

Coronavirus disease.

Latest｜Today 5 new confirmed cases and 1 local case Sumitomo Ai Village Ai Fai Building

01News

COVID-19 rent