Family Tenant Leases Peakone 3-Bedroom for HK$28,000 Monthly as Rental Demand Surges
SingTao · 1 SOURCESabout 2 hours ago5 MIN
Summary
Hong Kong's residential rental market continues to demonstrate resilience amid broader economic uncertainty. Two recent transactions highlight sustained demand from both families and young professionals seeking quality rental accommodation. Hong Kong Property Agents (香港置業) reported a family tenant securing a 3-bedroom unit at Peakone in Ma Wan for HK$28,000 per month, while another rental deal at Cullinan West near Nam Cheong Station was concluded at HK$24,500 monthly .
Key Points
- Peakone Phase 3 Tower 19 Mid-floor Unit C, spanning 848 sq ft with airport sea views, fetched HK$28,000 monthly rent after negotiations from the initial HK$29,000 asking price, translating to HK$33 per sq ft .
- The landlord purchased the Peakone unit in September 2014 for HK$7.1 million, now generating a gross rental yield of 4.7% — a robust return in the current low-interest environment .
- Bear Hsiung (熊建明), District Director at Hong Kong Property Agents, noted that Ma Wan rental demand remains strong with limited available stock .
- At Cullinan West Phase 6 Tower 6 Unit J (371 sq ft), a mother-daughter pair leased the 1-bedroom flat for HK$24,500 monthly at HK$66 per sq ft, with the owner enjoying a 3.4% rental yield .
- Kevin Ma Hon-wai (馬漢偉), Chief Regional Director at Hong Kong Property Agents, handled the Cullinan West transaction; the owner acquired the unit in November 2019 for approximately HK$8.68 million .
Why It Matters
These transactions illustrate how rental properties continue to offer attractive returns compared to savings accounts, particularly for owners who purchased before recent price corrections. The contrasting yields between Ma Wan's 4.7% and urban station-side developments' 3.4% also reflect how transportation accessibility influences investment returns in Hong Kong's compact property market .
These transactions illustrate how rental properties continue to offer attractive returns compared to savings accounts, particularly for owners who purchased before recent price corrections. The contrasting yields between Ma Wan's 4.7% and urban station-side developments' 3.4% also reflect how transportation accessibility influences investment returns in Hong Kong's compact property market .