(By Huang Jiaming)
The Fed may rise interest next year, leading some potential buyers turn to renting to wait and see the property market development. A unit in usable area of 667 sq ft in Mei Foo Sun Chuen phase 4 which is a blue-chip project in Kowloon West was rented out at about monthly HKD 16,500, at rate of renting rental of more than 4.7%. One middle floor unit of Lions Rise in Wong Tai Sin, of which the area is 827 sq ft, was rented out at monthly HKD 28,000, in monthly usable area sq ft rent of about HKD 33.9. Nerine Cove Block in Tuen Mun even had two cases of renting in succession.
The rate of rental return in Mei Foo Sun Chuen is more than 4.7%.
High floor room B in 113 Broadway Street of Mei Foo Sun Chuen phase 4 which is a blue-chip project in Kowloon West in usable area of 667 sq ft was rented to a potential buyer who want to wait and see the market trend, Gu Xuezu from Hong Kong Property ecpressed. The monthly usable area sq ft rent is HKD 24.7 base on monthly rent of about HKD 16,500. The owner bought the above unit at about HKD 4.2 million in February 2011, with rate of rental return in more than 4.7%.
Middle floor room D of building 6A from Lions Rise in Wong Tai Sin, of which the usable area is 827 sq ft, was rented at monthly HKD 28,000, at monthly usable area sq ft rent of about HKD 33.9, Luo Qisheng from Hong Kong Property expressed. The owner bought the above unit at about HKD 12.474 million in January 2013, earning rate of rental return in about 2.7%.
Nerine Cove Block registered 2 cases of renting.
Their branch just promoted two cases of renting in Nerine Cove Block days before, Wu Jialu from Manywells expressed. One is in high floor room D of building 5 in usable area of 522 sq ft, and it is rented at monthly HKD 10,500, with monthly usable area sq ft rent at HKD 20.1. Base on such unit's valuation is about HKD 4.015 million, the rate of rental return of this unit is 3.1%, and it still can up to 2.7% after management fee and other incidental expenses at about HKD 1,500.
Another is in middle floor room B of building 2, of which the usable area is 547 sq ft, and the tenant rented it immediately at HKD 10,300, with monthly usable area sq ft rent at HKD 18.8. Since owner bought this unit at about HKD 2.468 million in October 2010, so the rate of rental return is up to 5%, and it still can up to 4.3% after management fee and other incidental expenses at about HKD 1,500.
Medium-high floor room F of building 7 of Ocean Shores in Tsueng Kwan, of which the usable area is 646 sq ft, was rented out at monthly HKD 20,000, with monthly usable area sq ft rent at HKD 31, expressed by Ke Yong from Centaline Property. The original price was monthly HKD 21,000, while it was cut by HKD 1,000 after negotiation. The owner bought this unit at HKD 5.28 million in May 2010, earning rate of rental return at about 4.5%.
