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Can Hong Kong expats improve Singapore rental leasing

Can Hong Kong expats improve Singapore rental leasing?

Global economic problems and high rents aren’t the only things that can affect the way people rent homes and the grand dunman floor plan in Singapore.

Savills says that the success of the market also depends on whether or not there will be more people moving from Hong Kong to Singapore.

Savills said that some expats have started moving to Singapore since September 2022, when the required quarantine for new arrivals ended, and early January 2023, when the borders with China were opened.

Savills also said, “We have a feeling that a small but new wave of Hong Kong expatriates is moving or is about to move to Singapore.”

“We think that, if there isn’t a strong economic recovery around the world, Hong Kong will be the key to future rental performance,” Savills said.

In the absence of a significant global economic rebound, Hong Kong will determine future rental performance, Savills said.

The real estate expert suggested Hong Kong expats may affect Singapore rentals at Dunman Grand.

In some CCR (Core Central Region) non-landed developments, rental volatility may arise from Hong Kong expats holding jobs below the C-suite level. They have a large leasing budget.” Savills stated.

Native Hong Kongers are more cost-conscious and may tolerate smaller apartments grand dunman pricing and single-room rentals. The increased OCR and RCR supplies this year will match their demands, the expert said.

In general, Savills thinks Singapore rentals have peaked.

“The overall rental market will likely remain at this level with some negative bias until the end of the year. Savills estimated that the market would likely find inelasticity 5% below rents, hence the minor skew.

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