Quarry Bay Flat Rents at HK$24,800 Monthly with 11.6% Yield; Three Other Cases Reported
SingTao · 1 SOURCESabout 3 hours ago5 MIN
Summary
A three-bedroom unit at Kornville (康景花園) in Quarry Bay has been leased for HK$24,800 per month, offering an 11.6% rental yield to the landlord who acquired the property in 1992. Three other residential leasing deals were reported on the same day, spanning Kowloon Tong and Tuen Mun districts, with tenants including cross-district renters, Mainland families seeking school proximity, and talent visa holders.
Key Points
- The unit at Block A, High Floor, Flat 5 of Kornville spans approximately 699 sq ft with a three-bedroom en-suite layout, leased at HK$35 per sq ft monthly
- Cross-district tenant valued the unit's practical layout, open views, and the tranquil, livable neighborhood surrounding the development
- Landlord purchased the Kornville unit in 1992 for approximately HK$2.56 million, now generating an 11.6% rental yield
- A 587-sq-ft two-bedroom en-suite flat at Hyson Court (賢苑) on Ko Fuk Road in Kowloon Tong leased for HK$31,000 monthly (HK$53 per sq ft) to a Mainland family prioritizing school access for their children
- Novo Land Phase 2B Tower 1A High Floor Flat D in Tuen Mun (453 sq ft, two-bedroom) was immediately leased for HK$16,000 monthly (HK$35.3 per sq ft) by a Mainland talent visa holder who appreciated the move-in ready condition and appliances
- The Tuen Mun landlord acquired the Novo Land unit in 2023 for approximately HK$6.26 million, yielding 3.1% annually
- Siu Hong Court (兆康苑) in Tuen Mun (414 sq ft, two-bedroom) was leased for HK$10,800 monthly (HK$26.1 per sq ft) after the landlord offered a HK$700 reduction in exchange for full-year rent prepayment
Why It Matters
The rental market continues to show divergent yields across Hong Kong, with older Quarry Bay properties delivering returns far exceeding current mortgage rates, while newer Tuen Mun developments command lower yields despite recent price adjustments. The range of tenant profiles—from cross-district families to Mainland talent visa holders—underscores how housing demand in Hong Kong remains broad-based across income levels and tenure preferences .
The rental market continues to show divergent yields across Hong Kong, with older Quarry Bay properties delivering returns far exceeding current mortgage rates, while newer Tuen Mun developments command lower yields despite recent price adjustments. The range of tenant profiles—from cross-district families to Mainland talent visa holders—underscores how housing demand in Hong Kong remains broad-based across income levels and tenure preferences .