COVID-19 and the Rental Market: A Global and Hong Kong Perspect

This study aims to provide an in-depth analysis of the challenges faced by the global rental market during the COVID-19 outbreak, with a particular focus on the rental market in Hong Kong, an Asian financial center. By comparing market data before and after the outbreak, this study reveals the impact of rising rents and housing affordability shortages on renters globally, particularly the disproportionate impact on Black and Hispanic communities. The outbreak not only exacerbated these problems but also led to mass unemployment, particularly among households of color, further revealing the instability and vulnerability of the wage structure. This study employs both quantitative and qualitative research methods to analyze the rental market in Hong Kong thoroughly. The findings suggest that the rental market in Hong Kong faces multiple challenges, such as rising rents, unstable tenancy contracts, and inadequate housing supply. These challenges were exacerbated during the COVID-19 outbreak, posing a severe threat to the livelihood security of low-income households. This paper proposes a series of policy recommendations to address the specific conditions of Hong Kong's rental market.