{"id":28313,"date":"2016-10-03T11:19:18","date_gmt":"2016-10-03T04:19:18","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/luxury-rents-in-these-4-asian-cities-are-rapidly-rising\/"},"modified":"2016-10-03T11:21:45","modified_gmt":"2016-10-03T04:21:45","slug":"luxury-rents-in-these-4-asian-cities-are-rapidly-rising","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/luxury-rents-in-these-4-asian-cities-are-rapidly-rising\/","title":{"rendered":"Luxury rents in these 4 Asian cities are rapidly rising"},"content":{"rendered":"


\nWhile Hong Kong and Singapore come crashing down
\nTokyo Skytree Tower in Japan. ZeroSystem \/ Shutterstock
\nPrime rents in Tokyo are growing the fastest in Asia, Knight Frank revealed in its latest Prime Global Rental Index.
\nPosting a 9 percent year-on-year growth in 12 months to June, the Japanese capital trails only Moscow as the world\u2019s fastest-growing place for luxury rentals. This contrasts with a recent report by the central government\u2019s Statistics Bureau that residential rents in Tokyo\u2019s 23 special wards dropped 0.4 percent in the year to August.
\nGuangzhou was ranked third worldwide in prime rents, with a 4.8 percent growth in the year to June, leading other mainland Chinese cities in the top 10, which registered a 1.6 percent and 0.7 percent rise, respectively.
\n\u201cIncreased demand from China for commodities suggest a positive outlook for the remainder of 2016,\u201d according to Knight Frank.
\nTaipei posted zero growth in all the periods tracked by the index, which charts the rise and fall of rents in 17 cities worldwide. Luxury rental growth in Hong Kong suffered a major setback, falling 7.3 percent year-on-year. At the same time, Singapore rents sank 2.3 percent.
\nMore: Not even the 2020 Olympics is helping Tokyo condo prices
\nCities fared better in general in the year to June, with ten of the 17 locations seeing positive growth, compared with only seven in the previous quarterly report. The strong showing of cities boosted the index to a growth of 0.5 percent.
\nSizable infrastructure investments in Moscow, coupled with a marked slowdown in the contraction of the national economy and substantial gains in Russian oil price, ensured the Russian city\u2019s number-one ranking, Knight Frank explained in its report.
\n\u201cWhilst uncertainty caused by Brexit and the US presidential election still lingers, we are starting to see a more positive global economic landscape develop,\u201d Knight Franks stated in its report. Rental markets will continue to forge into positive territory with \u201csustained and positive economic data from the US as well as growth in emerging markets led by easier access to credit markets.
\nRead next: Tokyo Rising
\n
\nSource : property-report.com
\nRead more…Luxury rents in these 4 Asian cities are rapidly rising<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

While Hong Kong and Singapore come crashing down Tokyo Skytree Tower in Japan. ZeroSystem \/...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-28313","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-7mF","jetpack-related-posts":[{"id":2784,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/london-prime-shop-rents-leap-9-in-last-quarter-of-2015\/","url_meta":{"origin":28313,"position":0},"title":"London prime shop rents leap 9% in last quarter of 2015","date":"January 27, 2016","format":false,"excerpt":"\r Luxury retailers battle for prime central sites in trend towards operating fewer but more high-profile storesRents for prime central London shops soared 9% in the final quarter of 2015, the fastest growth since 1988, as luxury retailers battled over a limited number of sites in the capital\u2019s hottest locations.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":30849,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-cdl-to-invest-in-luxury-tokyo-condo\/","url_meta":{"origin":28313,"position":1},"title":"Singapore\u2019s CDL to invest in luxury Tokyo condo","date":"October 20, 2016","format":false,"excerpt":"\r Taking a slice of land-scarce Japan Aoyama, Tokyo. hedgehog111 \/ Shutterstock.com Singaporean property behemoth City Developments (CDL) revealed Tuesday plans to buy a 20 percent stake in a 163-unit condominium project in Tokyo. 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The index\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2015\/12\/knight-frank-global-prime-rents-1024x681.jpg?fit=1024%2C681&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":38622,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-prime-home-rents-down-3-3-in-q3\/","url_meta":{"origin":28313,"position":3},"title":"Singapore prime home rents down 3.3% in Q3","date":"December 20, 2016","format":false,"excerpt":"\r Prime residential rents continue to weaken in Singapore. 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