Mainland Students Renting Ho Man Tin Flats at Record High Rates
On.cc · 2 SOURCESabout 1 hour ago2 MIN
Summary
Two mainland students have rented one-bedroom units at VAU Residence in Ho Man Tin, with the deals setting new benchmarks for the development. The first unit, a 278 sq ft middle-floor one-bedroom with an open kitchen, fetched HK$18,800 per month (HK$67.6 per sq ft), while the second, a 211 sq ft lower-mid-floor unit, rented for HK$17,000 per month (HK$80.6 per sq ft). Both tenants, who are preparing to study in Hong Kong, chose to pay their full annual rent upfront, a preferred payment method among mainland students entering the local rental market. The property owners, who acquired the units in 2021, are now enjoying rental yields of approximately 3.1% to 3.4%.
Key Points
- The middle-floor B unit at VAU Residence, spanning 278 sq ft, was rented to a mainland student for HK$18,800 monthly at HK$67.6 per sq ft
- A lower-mid-floor G unit of 211 sq ft was leased for HK$17,000 per month, translating to approximately HK$80.6 per sq ft, one of the highest rates in the development
- Both tenants paid their rent annually in advance, with the B unit generating HK$225,600 and the G unit HK$204,000 for the first year
- The owner of the B unit purchased the property in 2021 for HK$7.346 million, now achieving a rental yield of about 3.1%
- The G unit's owner bought the property for HK$5.918 million in 2021, securing a rental yield of approximately 3.4%
Why It Matters
The surge in mainland student rentals in Ho Man Tin reflects the ongoing demand for quality housing near the area's prestigious schools and universities. Investors holding properties in this district continue to benefit from stable rental income as the academic calendar drives consistent demand from students arriving from across the border.
The surge in mainland student rentals in Ho Man Tin reflects the ongoing demand for quality housing near the area's prestigious schools and universities. Investors holding properties in this district continue to benefit from stable rental income as the academic calendar drives consistent demand from students arriving from across the border.