Our latest edition of China Hong Kong Market Watch is now available! If you are relocating to China Hong Kong, get updates on the current trends in the residential rental market, typical school and transportation costs. The Market Watch also includes updated immigration rules and travel protocols for assignees preparing to relocate to Hong Kong.
China Hong Kong Market Watch – Download Now
The ongoing COVID-19 pandemic has resulted in lower activity in the Hong Kong leasing market. Not much has changed in the leasing market since Q3 2022, except that landlords have been more flexible during negotiations towards the year’s end as they are keen to lease their vacant units before the low season starts from December till February.
Luxury residential rental rates are expected to increase progressively in 2023 as restrictions lift and the mainland China border reopens. Experts expect luxury apartment rentals to remain stable in the first half of 2023 and increase slightly in the second half.
Hong Kong has announced the removal of mandatory quarantine for all inbound travellers. However, travellers in Hong Kong are still required to take a Rapid Antigen Test (RAT) within 24 hours of arrival, or a PCR-based nucleic acid test within 48 hours prior to departure (for arrivals via the airport) or before arrival at Hong Kong (for arrivals via other boundary control points). A negative result is required for entry. Additionally, daily RATs for a period of six days from arrival is required.
Hong Kong announced a new scheme called New Top Talent Pass Scheme (TTPS) in October 2022, issuing two-year visasto top talent, with a rich work experience and good academic qualifications from all over the world. These top talents include high-income candidates and graduates from the world’s top universities.
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