Residential rents in Hong Kong have rebounded to levels last seen before the onset of the global financial crisis in 2008. A survey by estate agency Midland Realty shows the average rent in Hong Kong's 100 major housing estates was HK$18.20 per sq ft at the end of March, up 5.1% in the first quarter and back at the level last reached in July 2008.

The Midland data shows that average rent dropped 22.5% to a low of HK$14.10 per sq ft in November 2008.

Chief analyst Buggle Lau Ka-fai said residential rents had now surged 29.1% in the past 15 months while prices jumped 34.8%.

South China Morning Post