OK, everybody ... here it is, from the horse's mouth ... http://www.iht.com/articles/2007/05/...ness/expat.php

This is an article from the Int'l. Herald Tribune titled "Hong Kong Apartments Most Expensive To Rent", 5/23/07. That means most expensive in the world. It will cost you a MINIMUM of US $5,000 to rent a modest apartment of 1,000 sq. ft. Please keep in mind, also, that what is called a "luxury apartment" in HKG means luxury by their standard - not by ours. We're not talking granite kitchens with a Sub-Zero fridge, folks. The So. China Morning Post has a similar article (no link; article below). Pass the word - DON'T BID HKG.
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"Expat Budgets Falling Behing Luxury Price Rise"
by Sandy Li
May 30, 2007 (South China Morning Post)

Expatriates with a monthly accomodation budget of HK$70,000 to HK$100,000 [US$8,975 to $12,820] - a common package for senior executives - would have less choice in their favorite area in Island South as luxury residential rents continue to rise.

Landscope Surveyors managing director Koh Keng-shing said most flats of more than 3,000 square feet in Island South would be charging more thatn HK$100,000 a month now. "This group of executives will have to lower their expectations by looking for flats in West and East Mid-Levels," he said.

Landscope's website lists a 3,330 square foot unit in Tregunter Towers at Mid-Levels offering to lease at HK$100,000. Owing to limited supply of luxury residential units, Mr. Koh expects rents to increase more that 20 percent this year. He said the period from May to July was the traditional high season for leasing, thus this would push up rents further.

An international survey last week ranked Hong Kong as having the world's highest rents for expatriates, with an average cost of US$8,592 a month to rent an unfurnished three-bedroom flat in areas such as Repulse Bay, the Peak, and Mid-Levels. Mr Koh said accommodations and staff cost only accounted for a tiny portion of a multinational corporation's operating cost.

"With a growing number of international corporations setting up offices in Hong Kong and the tight supply in the top-end residential sector, rents will continue to move up. We have seen one apartment attracting two to three bidders," he said. Mavis Kang, general manager of Signature Homes, the luxury residential leasing arm of Sun Hung Kai Properties, said rents for its luxury residential portfolio rose 5 to 8 percent in the first quarter of the year, compared with the previous quarter.

Signature Homes provides more than 600 homes in 14 prestigious locations in Hong Kong. These include Dynasty Court in Mid-Levels, 127 Repulse Bay Road, and Le Palais in Island South. "Occupancy rates at our portfolio reached 97 percent, reflecting strong demand for luxury residential homes," Ms. Kand said.

Lily Choi, senior marketing manager at Kerry Real Estate Agency, said most of their tenants were expatriates who worked in the financial sector. "Our tenants come from the United States and Europe," she said. Its super-deluxe portfolio includes Aigburth, Brandsome Crest, Tavistock and Branksome Grande. She said rents ranged from HK$40 [US$5.13] to almost HK$60 [US$7.69] per square foot, while units of 6,000 square feet exceed HK$60 per square foot [US$46,154 PER MONTH].
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