Leasing in As an international financial centre, Hong Kong’s residential market offers Hong Kong attracts a large number of a variety of lifestyle options ranging Hong Kong expatriates to live and work here every from city living to suburban living; and year. However, limited land supply and a selection of housing types from large housing demand have resulted high-rise apartments to townhouses in high rents and prices of residential to village homes. properties. A standard lease in Hong Kong is Traditional luxury residential districts usually for two years, although often a are concentrated on Hong Kong Island, break clause gives the landlord and/ in neighbourhoods such as the Peak, or tenant the right to terminate after Island South and Mid-Levels. Most 12 months with a 2-3 months’ written residential properties in Hong Kong notice period. In today’s market, are supported by shops and amenities. tenants tend to ask for an inclusive With a comprehensive transportation package which means the monthly network, these neighbourhoods are rental is inclusive of management fees conveniently connected to central and Government Rates. business districts and shopping areas in the city. GUIDE FOR LEASING A PROPERTY IN HONG KONG 3