Yuen Long 2-Bed Rental Sets Estate Record at HK$16,200 Monthly
SingTao · 1 SOURCES1 day ago2 MIN
Summary
A 509-sq-ft two-bedroom flat at Yuen Long's Choy Yip Court has set a new rental record for the estate, commanding HK$16,200 per month. The landlord acquired the property in 2021 for HK$6.76 million, translating to a rental yield of roughly 2.9% . Separately, a sea-view unit at Cheung Sha Wan's Uptown Residences was leased at HK$22,800 per month, delivering a yield of approximately 6.9% for its owner who bought in 2010 .
Key Points
- The record-breaking unit at Choy Yip Court's Block 16, Middle Floor Flat F, achieved a saleable-area rent of approximately HK$32 per sq ft, the highest ever for a two-bedroom in the estate .
- Rental transactions at Uptown Residences in Cheung Sha Wan remain brisk, with four deals already recorded this month as quality units are quickly absorbed by tenants .
- The Uptown Residences deal involved Block 2, High Floor Flat A (517 sq ft), originally listed at HK$23,500 per month but settled at HK$22,800, or about HK$45 per sq ft on saleable area .
- New tenants at the Uptown Residences were a couple seeking an unfurnished unit they could personalize and make their own home .
- The Choy Yip Court owner enjoys a 2.9% rental return, while the Uptown Residences landlord benefits from a substantially higher 6.9% yield given the 2010 purchase price of approximately HK$3.98 million .
Why It Matters
These transactions illustrate how rental yields vary dramatically across Hong Kong depending on acquisition timing and location, with older developments in established districts offering significantly better returns than newer estates on the periphery. For prospective landlords and tenants alike, the data underscores the importance of location and market timing in Hong Kong's fragmented property landscape .
These transactions illustrate how rental yields vary dramatically across Hong Kong depending on acquisition timing and location, with older developments in established districts offering significantly better returns than newer estates on the periphery. For prospective landlords and tenants alike, the data underscores the importance of location and market timing in Hong Kong's fragmented property landscape .