Parents Drive Summer Rental Surge for Sea-View Apartments Near Schools
SingTao · 1 SOURCESabout 3 hours ago2 MIN
Summary
A spacious sea-view three-bedroom unit at Island Resort in Siu Sai Wan has been leased for HK$37,800 per month to a parent tenant, highlighting strong rental demand in Hong Kong's residential market during the back-to-school season. The 811 sq ft property was leased within days of viewing, reflecting parents' urgency to secure accommodation near quality schools. Meanwhile, another three-bedroom unit at Laguna City in Kwun Tong was leased for HK$24,500 per month, showing sustained rental activity across different districts.
Key Points
- A parent tenant leased a sea-view three-bedroom unit at Island Resort, Block 7, High Floor Unit C, spanning 811 sq ft with an en-suite and storage room .
- The unit was rented for HK$37,800 monthly after negotiation from an initial asking price of HK$38,000, translating to approximately HK$47 per sq ft .
- The tenant prioritized the unit for its proximity to schools in the district, and the spacious layout made it attractive as summer vacation neared its end .
- The landlord purchased the Island Resort unit in 2003 for approximately HK$3.92 million, currently yielding a rental return of about 11.6% .
- In Kwun Tong, a three-bedroom en-suite unit at Laguna City Block 31 Mid Floor Unit D, covering 687 sq ft overlooking green mountain views, was leased for HK$24,500 .
Why It Matters
The rental transactions underscore how school catchment areas continue to drive housing decisions for families in Hong Kong, with parents willing to pay premium rents for convenient access to quality education. For property investors, the 11.6% rental yield at Island Resort demonstrates the attractive returns available in well-located residential estates, particularly those near reputable schools.
The rental transactions underscore how school catchment areas continue to drive housing decisions for families in Hong Kong, with parents willing to pay premium rents for convenient access to quality education. For property investors, the 11.6% rental yield at Island Resort demonstrates the attractive returns available in well-located residential estates, particularly those near reputable schools.