Benefiting from the traditional peak rental season in summer, many mainland and overseas students come to Hong Kong for further study, along with foreign talents coming to Hong Kong, bringing additional housing rental demand to Hong Kong, leading to a continuous rise in residential rental prices. Lau Ka Fai, Chief Analyst of Midland Realty, pointed out that Midland's "Rental Trend Chart" in August reported an average rent per square foot of approximately HKD 37.88, a monthly increase of approximately 1.26%, marking the sixth consecutive monthly increase and reaching a new high in the past 59 months (almost five years) since September 2019. It is worth noting that with the continuous rise in rental prices, the latest rent is only about 1.17% lower than the historical high of approximately HKD 38.33 in July 2019.

It is rare to see a situation where rental prices and property prices are moving in opposite directions. For the first time in history, there have been two consecutive years of "rental increase, property price decrease". From 2023 to the present, the "Midland Property Price Index" has fallen by approximately 12%, while the "Rental Trend Chart" has increased by approximately 13%, intensifying the divergence between the two.

Looking back at the monthly performance of rents in August, the rents of six out of the top ten housing estates increased. Among them, Mei Foo Sun Chuen had the largest monthly increase, rising by approximately 4.3%; Whampoa Gardens and Yung Shue Wanrose Garden increased by approximately 2.2% and approximately 1.9% respectively; Tai Koo Shing and Kadoorie Hill both increased by approximately 1.7%; Shatin Park One also recorded a monthly increase of 1.6%, with the average rent per square foot approaching HKD 45. On the other hand, the average rents of the remaining four housing estates decreased, with Hong Yee Gardens having the largest decrease of approximately 2.8%; Laguna City, Sun Tuen Mun and Ap Lei Chau Peninsula decreased slightly by approximately 0.9%, approximately 0.5% and approximately 0.3% respectively.

In terms of railway developments, some housing estates along the railway lines had more significant monthly rent increases in August compared to the top ten housing estates. Among them, Sheung Wan Station's Queen's Terrace reported a monthly increase of approximately 7.4%; Jordan Station's Harbour Green and Mong Kok Station's SKYPARK had rent increases of approximately 6.9% and approximately 6.8% respectively; Long Ping Station's Long Ping 8 and Wong Tai Sin Station's Hin Chong Shan recorded rent increases of approximately 6.1% and approximately 5.4% respectively.