In a whiplash-inducing Hong Kong property market, tenants paying less are better than no tenants at all

In April, a flat in Taikoo Shing rented out for just around HK$25,000 (US$3,225). That would be unspectacular if not for the fact the previous lease agreement was for HK$32,000 – a roughly 20 per cent drop in rent.That is a reflection of the property climate in Hong Kong right now, a market that is going to move week to week rather than quarter to quarter for the foreseeable future. This is not to say the sky is falling and the rug is being pulled out from beneath us – it is just a matter of…

Read the original article at South China Morning Post