Coronavirus Latest News

Hong Kong expats get windfall amid coronavirus gloom: rents likely to fall 10 to 15 per cent in world’s costliest place for foreigners to live

New Zealander Darryl Parrant was pleased when he renewed the lease on his 800 sq ft flat in Hong Kong’s affluent Mid-Levels area.He received a 20 per cent discount and will pay HK$40,000 (US$5,128) a month for the next two years, which means saving HK$120,000 a year.“It is a pretty good deal,” said Parrant, a country business leader at human resources consultancy Mercer. “When I came to Hong Kong two years ago, the rental market was at the peak.”He moved to Hong Kong from Singapore, and shares…

Read the original article at South China Morning Post

Related Articles