Hong Kong’s Population Decline Could Weigh on Rent Prices

Hong Kong’s residential rental market could face continued pressure this year as it confronts the prospects of a shrinking population. Data from the city’s Census and Statistics Department show the number of deaths topped births for the first time in 2020 and nearly 40,000 residents exited. “Hong Kong’s housing rents may fall another 5-10% in 2021 as a shrinking population threatens to stifle residential leasing,” according to Bloomberg Intelligence’s Patrick Wong. “Pandemic-related travel restrictions could continue to hamper demand for leases from mainland Chinese students and workers until later this year,” he added.