Mainland Students' Rental Rush Reaches Public Housing

In June, the rental rush among mainland students continued to expand, reaching public housing estates in Tai Po. At Wan Tau Tong Estate in Tai Po, a well-decorated unit was rented out at HK$39 per square foot, comparable to private housing rents in the area. According to market sources, over 40 rental cases involving mainland Chinese students have been recorded in Tai Po this month. One notable case is a low-floor unit at Wan Lam House (Block 2) in Wan Tau Tong Estate. This 445-square-foot unit, featuring three rooms, was initially listed by the owner for HK$16,000. However, after negotiations with three mainland students preparing to attend university in Hong Kong, the rent was raised to HK$17,500, equating to HK$39 per square foot. This rate surpasses many private housing rents in the area; for example, a high-floor unit (J) at Block 9 of The Regent, with a saleable area of 617 square feet, was rented for HK$22,500, or HK$36 per square foot.

Agents noted that although Wan Tau Tong Estate is a public housing estate, it is highly favoured by mainland students due to its direct access to the Uptown Plaza shopping mall and the train station via a pedestrian tunnel. This convenience leads students to prefer renting public housing units at higher prices. The mentioned public housing unit was originally purchased from the Housing Authority in 1998 for approximately HK$203,000 (before land premium payment) and completed the premium payment in 2013, allowing it to be rented out.

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