Two Mainland Male Students Rent Gold Lion Garden Unit, Pay Full Year Rent Over 162K
SingTao · 2 SOURCESabout 3 hours ago2 MIN
Summary
Two mainland male students have rented a unit in Gold Lion Garden Phase 2 in Tai Wai, paying a full year of rent upfront to secure the property. The transaction, valued at over 162,000 HKD annually, reflects the growing trend of mainland students choosing to pay rent in a single lump sum. A similar case was recorded in City One Sha Tin, highlighting the robust demand from mainland students entering Hong Kong universities this academic year.
Key Points
- A 282-sq-ft two-bedroom unit in Gold Lion Garden Phase 2, Block C, low floor, Unit 02 in Tai Wai was leased for 13,500 HKD monthly
- The two mainland male students opted to pay one full year of rent totaling 162,000 HKD to facilitate their commute to university
- The unit's usable-area rent equates to approximately 50 HKD per sq ft; the owner purchased it for 4.6 million HKD in 2019, yielding 3.5 percent
- A 284-sq-ft two-bedroom unit in City One Sha Tin, Block 41, mid floor, Unit A was rented for 14,800 HKD monthly with one-year prepayment
- The City One unit's usable-area rent is approximately 52 HKD per sq ft, yielding 4.1 percent for the owner who acquired it for 4.37 million HKD
- Both rental transactions were brokered by Midland Realty agents Poon Yuen-yee and Yiu Chi-wing
Why It Matters
The preference for lump-sum rent payments among mainland students highlights their strong purchasing power and the competitive rental market in Hong Kong's New Territories. This trend benefits property owners with reliable rental income but may further tighten housing availability for local renters during peak seasons.
The preference for lump-sum rent payments among mainland students highlights their strong purchasing power and the competitive rental market in Hong Kong's New Territories. This trend benefits property owners with reliable rental income but may further tighten housing availability for local renters during peak seasons.