Expatriates relocating to Hong Kong are fueling demand in the city’s luxury residential market, with rents expected to climb 5 percent in 2026, according to JLL.

“A lot of hedge funds, wealth management companies and investment banks are expanding in Hong Kong, and they are relocating, bringing international talents into the city,” Cathie Chung, senior research director at JLL Hong Kong, said in a Bloomberg TV interview with David Ingles and Yvonne Man.

ALSO READ: Hong Kong public housing rents to rise by 2.04% from Oct 1

Expats are returning to the city following years of pandemic-era outflows.

“Residential rents have been breaking records for a continuous 19 months already, and we expect rents to move further,” Chung said.