The Year Of The Landlord In Hong KongPete Engardio
A roomy apartment. Tennis courts and a playground for the kids. Nice views. For years, this has been standard quarters for stressed-out expatriate managers in congested Hong Kong. But perhaps not for much longer. A wave of astronomical rent hikes is forcing expats to scramble for cheaper digs because their corporations won't match the increases. "This is outrageous," fumes a U.S. banking executive whose family gave up a four-room apartment in Parkview, a popular high-rise on Hong Kong Island, when the monthly rent soared from $7,100 to $10,980 in two years. "If this is the path rents are headed, what will happen to Hong Kong's business climate?"
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