Hong Kong Home Rents Hit Record High on Strong Chinese Demand

Hong Kong residential rents hit a record high as demand from new arrivals to the city offsets a wider real estate downturn.

The rental price index rose slightly in September from a month earlier, to the highest since records began in 1993, and held that level in October, government data showed on Wednesday. The growth comes amid a sustained influx of mainland Chinese immigrants on new visa programs to Hong Kong in recent years.