Mainland Chinese underpin HK luxury rents: Savills

Hong Kong

CHINESE mainlanders are underpinning high-end residential apartment rents in Hong Kong as expatriate housing budgets in the financial industry are being slashed, according to Savills plc.

Vacancies for luxury apartments remain low and budgets of HK$40,000 (S$7,000) to HK$100,000 per month are the most popular, according to a note from the London-based real estate services company.