Foreign aircrew finds advantages in leasing a property at Tung Wo Bay. A two-bedroom unit at the lower G apartment of Tung Wo Bay 8 has been rented for HKD 26,000 per month. This unit has a practical area of 75.6 square meters and a sea view. The rental agent, Paul Tsou, says the needs of expatriates continue to drive rental demand in Hong Kong, with the eastern district seeing around 35 rental transactions this month, expected to exceed 100 for the entire month. Tung Wo Bay 8 apartment at the lower G, with a practical floor area of 75.6 square meters, was leased for HKD 26,000 per month after negotiation. The new tenant is a foreign aircrew who is impressed by the location's proximity to the MTR station, bus stop, and large shopping center, and the entire house is fully furnished, making it ready for immediate occupation. The property was purchased for HKD 10.5 million in November 2021, yielding an approximate rental return of 3%.
Luxury rental unit in Po Leung Kow Baja Wan secures a high monthly rent of HKD 70,000. Alex Chau, assistant managing director of Pacific Alliance Real Estate, reports that apartment 3 of block A in Po Leung Kow Baja Wan Phase 2, with a practical floor area of approximately 126 square meters, boasts a panoramic sea view and is fully furnished. The unit was rented out for HKD 70,000 per month, marking a practical spatial rental rate of approximately 51 Hong Kong dollars per square meter. The buyer acquired the property in September 2003 for around HKD 8.4 million, offering a high rental return of about 10%.
These rental market trends highlight the growing demand for both affordable housing options and premium properties in prime locations in Hong Kong. As expatriates and luxury homeowners seek accommodations that combine convenience with excellent amenities, rental prices remain strong, reflecting the robust local and international market for rental properties.