Mainland Tenant Rents Tai Po Flat for HK$17,000 Monthly Near Science Park
SingTao · 2 SOURCESabout 3 hours ago2 MIN
Summary
A Mainland tenant has signed a lease for a one-bedroom unit at Wing Yuen in Tai Po's Pak Shek Kok district for HK$17,000 per month, primarily to reduce commuting time to the Hong Kong Science Park. The 381-sq-ft unit located on the middle floor of Block 2 was leased after price negotiations, reflecting approximately HK$45 per sq ft. The landlord, who acquired the property in 2020 for HK$6.02 million, is generating a rental yield of about 3.4 percent annually. Separately, a 282-sq-ft unit at The Richmond in Mid-Levels was leased for HK$20,800 per month, with a Mainland professional tenant citing proximity to the Mid-Levels Escalator as a key factor. Wing Yuen, situated at 12 Science Road in Pak Shek Kok, was completed in 2019 and comprises 10 towers offering 1,444 units across two phases .
Key Points
- Wing Yuen Block 2 Middle Floor Unit A3: 381 sq ft, 1-bedroom, leased at HK$17,000/month after negotiation, approximately HK$45 per sq ft
- Tenant is a Mainland visitor who chose the property for its comfortable environment, practical layout, and proximity to the Science Park
- Landlord purchased the unit in 2020 for HK$6.02 million, currently achieving 3.4% gross rental yield
- Wing Yuen is located at 12 Science Road, Pak Shek Kok, completed in 2019, offering 1,444 units in 10 towers across two phases
- The Richmond in Mid-Levels: 282 sq ft, 1-bedroom with city and pool views, leased at HK$20,800/month to a professional tenant
Why It Matters
The concentration of Mainland professionals renting near the Science Park underscores how employment hubs are reshaping residential patterns in the New Territories. This trend highlights the growing demand for quality housing with convenient commutes, while the 3.4% rental yield demonstrates that residential property in emerging technology corridors continues to offer attractive investment returns in Hong Kong's property market .
The concentration of Mainland professionals renting near the Science Park underscores how employment hubs are reshaping residential patterns in the New Territories. This trend highlights the growing demand for quality housing with convenient commutes, while the 3.4% rental yield demonstrates that residential property in emerging technology corridors continues to offer attractive investment returns in Hong Kong's property market .