Fewer Bankers in Hong Kong Getting Expat Packages
In the first quarter of this year, only 7 percent of Jones Lang LaSalle Inc.’s expat real estate clients in Hong Kong were given monthly rental budgets of more than HK$100,000, down from 31 percent in 2012. Now, 54 percent of clients make do with less than HK$30,000 a month―enough for about two small bedrooms squished into 550 square feet in Central district―compared with 11 percent four years ago.
“The number of finance clients with corporate packages moving to Hong Kong through Jones Lang LaSelle has halved.”
~ Stella Abraham, Head of Jones Lang LaSelle Hong Kong residential leasing and relocation services
The number of finance clients with corporate packages moving to Hong Kong through Jones Lang LaSelle has halved, said Stella Abraham, head of the firm’s Hong Kong residential leasing and relocation services for companies including Citigroup Inc. and JPMorgan Chase & Co.
About Jones Lang LaSelle
JLL is a financial and professional services firm specializing in commercial real estate services and investment management. We create value for companies and institutions that invest in and use real estate. With 58,000 employees across 230 corporate offices worldwide, we serve the local, regional and global real estate needs of corporates and investors in more than 80 countries. Our integrated services offering is grounded in expertise in all property types, a deep understanding of real estate markets and capital markets, and is coordinated and consistent across geographies.
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