TTPS holders to drive 12,000 units of annual leasing demand by 2027

70% of these holders are renting private residential units.

An additional annual leasing demand of 12,000 units is expected between 2023 and 2027, amidst the growing number of Top Talent Pass Scheme (TTPS) holders, according to a JLL report.

A recent government survey found that 70% of TTPS holders in Hong Kong are renting private residential units, said Norry Lee, Senior Director of Projects Strategy and Consultancy Department at JLL in Hong Kong.

The average annual net take-up for Class A and B units between 2022 and 2024 was around 13,800 units.

“This indicates that TTPS holders and their dependents will remain a significant driver of leasing demand, particularly for smaller units in the Class A and Class B categories,” Lee added.

However, home ownership amongst these holders remains limited, with only 13% having purchased property in Hong Kong.