Quality Talent Couple Rents Cheung Sha Wan Flat at HK$22K Monthly; Owner Yields Nearly 9%
SingTao · 1 SOURCESabout 2 hours ago2 MIN
Summary
Hong Kong's residential rental market continues to attract professional talent from abroad. A couple admitted under the Quality Talent Admission Scheme have secured a 2-bedroom unit at Bihai Bluetian in Cheung Sha Wan, paying HK$22,000 per month. The unit, located on a low floor of Block 2, features 494 square feet of saleable area and enjoys an open city view. The landlord, who originally listed the property at HK$23,500, accepted the slightly lower offer, translating to a useful rate of approximately HK$45 per square foot. The tenants viewed the flat only once before committing, attracted by its view and furnished condition. Their purchase reflects the robust demand from skilled migrants for quality housing in the city.
Key Points
- The rented unit at Bihai Bluetian Block 2 low-floor F measures 494 sq ft with southeast orientation and city views
- Monthly rent agreed at HK$22,000, down from the asking price of HK$23,500; useful rate approx HK$45 per sq ft
- Original owner purchased the property in April 2007 for HK$2.95 million, now earning over 8.9% rental yield
- District rental demand remains stable, with 2-bedroom units popular among professionals and new immigrant families
- A separate Kingswood Glory 3-bedroom unit (546 sq ft) was rented for HK$12,500 monthly at 2.7% yield
Why It Matters
The near-9% rental yield from the Bihai Bluetian transaction significantly outpaces current bank deposit rates, making residential property an attractive income-generating asset for investors. The continued inflow of talent through schemes like Quality Talent Admission sustains demand in the mid-tier rental market, supporting both rental values and property prices across Hong Kong's suburban districts.
The near-9% rental yield from the Bihai Bluetian transaction significantly outpaces current bank deposit rates, making residential property an attractive income-generating asset for investors. The continued inflow of talent through schemes like Quality Talent Admission sustains demand in the mid-tier rental market, supporting both rental values and property prices across Hong Kong's suburban districts.