Rental demand in Hong Kong remains strong, with some newly completed private apartments seeing record-high rents. In Tin Shui Wai, a studio unit at the new development Yoho West was recently rented out for HK$12,500 per month, achieving a record-breaking HK$47 per square foot – the highest in the district.
According to market sources, the unit in question is located in Block 3B, Flat B11 of Yoho West Phase 1. The flat has a usable area of 266 square feet and features an open-plan layout. The owner, who purchased the unit for HK$3.6319 million earlier this year (February 2024), is now enjoying a rental yield of over 4.1%.
Rental demand in Hong Kong remains strong, with some newly completed private apartments seeing record-high rents. In Tin Shui Wai, a studio unit at the new development Yoho West was recently rented out for HK$12,500 per month, achieving a record-breaking HK$47 per square foot – the highest in the district.
According to market sources, the unit in question is located in Block 3B, Flat B11 of Yoho West Phase 1. The flat has a usable area of 266 square feet and features an open-plan layout. The owner, who purchased the unit for HK$3.6319 million earlier this year (February 2024), is now enjoying a rental yield of over 4.1%.
This is not the first time Yoho West has set new rent records. Earlier this month, a one-bedroom unit in the same development was rented out for HK$12,800, equating to HK$44.8 per square foot, breaking the previous record of HK$43.7 per square foot achieved in late November. Yet, in just two weeks, the studio unit has now surpassed these figures, further setting a new high for Tin Shui Wai.
Meanwhile, in Tsuen Wan, another apartment has also broken rental records. A mid-level unit in The Aurora’s Block 3, with a usable area of 216 square feet, was recently rented out for HK$15,300 per month, achieving a staggering HK$70.8 per square foot. This marks the first time a unit in the four-year-old development has surpassed HK$70 per square foot, setting a new record for the Tsuen Wan area.
The owner of the Tsuen Wan unit purchased it in August 2024 for HK$4 million and is now earning a rental yield of around 4.6%.
These recent transactions highlight the ongoing demand for rental properties in Hong Kong, with both Tin Shui Wai and Tsuen Wan developments achieving record-breaking rents.
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