Rental price increases in 2025 to exceed 2024 levels

This is due to strong demand from new arrivals and potential homebuyers.

Rental price increases, which averaged 5.8% this year, are expected to surpass the 2024 baseline next year, according to Colife Hong Kong.

This is due to strong demand from new arrivals and potential homebuyers including foreign talent and international students, who are currently sidelined by high mortgage rates.

“In 2024, rental costs for our Colife apartments rose by 10%. In 2025, we forecast an increase of up to 20%. There is also a general rise in market prices and a lack of comfortable apartments and co-living options with included services. So, the demand exceeds the supply,” Ekaterina Lychak, general manager of Colife Hong Kong, said.

To save on rent, Colife said renters must consider longer-term contracts with a fixed monthly rate for the entire rental period.