Kornhill Garden Two-Bedroom Leased for HK$22,500 Monthly with 11% Rental Yield
AM730 · 2 SOURCES1 day ago5 MIN
Summary
A 526-sq-ft two-bedroom unit at Kornhill Garden (康怡花園) in Quarry Bay has been leased for HK$22,500 per month, delivering an approximately 11% rental yield to the landlord. The tenant, a local area resident relocating from Upper Kornhill, selected the flat through the Ricacorp True Source platform after viewing the property. The unit on Low Floor, Flat 2 of Block C features an open pool view and a practical two-bedroom layout. The landlord purchased this unit in 2004 for about HK$2.45 million, making the current rental income particularly lucrative.
Key Points
- Unit at Low Floor, Flat 2, Block C, Kornhill Garden, 526 sq ft with two bedrooms and pool view leased for HK$22,500/month, equating to HK$42.8 per sq ft
- Tenant previously lived in Upper Kornhill and chose the unit for its larger bedroom areas, open views, and desirable neighbourhood environment
- Landlord acquired the unit in 2004 for approximately HK$2.45 million, generating an 11% annual rental yield on the original purchase price
- Kornhill Garden comprises 32 blocks with 6,648 units total, located at 31-45 Kornhill Road and completed in 1985
- The estate currently has approximately 36 units available for rent, with asking prices starting from around HK$19,800 per month
Why It Matters
The near 11% rental yield from this transaction highlights the strong rental demand and investment appeal in Hong Kong's mid-tier residential market, particularly in established Blue Chip estates like Kornhill Garden . With approximately 36 rental listings currently available and a range of options starting from HK$19,800, the market continues to offer diverse choices for tenants while providing landlords with stable rental income in a competitive market environment .
The near 11% rental yield from this transaction highlights the strong rental demand and investment appeal in Hong Kong's mid-tier residential market, particularly in established Blue Chip estates like Kornhill Garden . With approximately 36 rental listings currently available and a range of options starting from HK$19,800, the market continues to offer diverse choices for tenants while providing landlords with stable rental income in a competitive market environment .