©
reiner.kraftAdrian Cheng is a young real estate tycoon in Hong Kong who is planning to turn his vision of "art malls" into reality. He already has a so-called K11 mall up and running in Hong Kong, where it is anchored to a bigger venture, the 64-story Masterpiece luxury hotel and apartment tower in the Tsim Sha Shui district.
This property tops the Hong Kong apartment rental market with some of the highest rates in the city for both renting and buying flats. The property breaks city convention in many ways, pulling in passers-by, including many tourists from Mainland China, with curving structural lines that open into a bright piazza. Its six floors are lit more like an art gallery, and large showcases for rotating art exhibits feature prominently between trendy shops.
May 7th,2011
News |
No Comments
©
kodiax2According to a global survey of expatriate housing costs, residential apartment rentals in Hong Kong jumped 22% year-on-year, making the Chinese territory the third most expensive rental market in the world. Hong Kong had been ranked ninth in price previously by ECA International, a consulting firm. The average rent per month for a two-bedroom Hong Kong apartment is equivalent to $2830/mo. Only Tokyo and Moscow are more expensive, with Tokyo topping the list at an average monthly rent of $4,352.
ECA compiled the rankings by surveying real-estate agents in 120 cities. When focusing in on high-end real estate, then Hong Kong rents jump even more to second place on the list behind Moscow for luxury two-bedroom homes. For luxury three-bedroom apartments, Hong Kong is most expensive in the world, at an average rent of $16,700/mo.
©
pnoericThe Japanese earthquake and Tsunami have put further upward pressure on Hong Kong apartment rental prices, as more foreign employees in the financial sector are relocating to Hong Kong from Tokyo.
The occupancy rate of rental homes has increased markedly since the quake struck Honshu Island, and property managers in the city say they have been receiving more phone inquiries from those in the financial sector who are in a hurry to relocate and willing to pay high prices. In one of the most popular residential areas among expatriates in Hong Kong, called the Mid-Levels, furnished new apartments sized under 1,000 square feet are easily rented out at prices from $2,566 per month. Furnished apartments in secondary areas like Causeway Bay and Fortress Hill are priced similarly and are already full.
April 2nd,2011
News |
No Comments
