Artists swept 14 properties last year
Property prices in Hong Kong continued to rise, but part of the luxury rateable rental values (hereinafter referred to as rental values) did not keep pace with the situation. According to the newspaper’s statistics on 14 luxury residential units purchased by celebrities or showbizists last year, it was found that only 4 units had a 2018/19 rental increase compared to 2017/18, and the proportion was less than 30%, of which Yu Renlang was held by artist Fang Lishen [pictured]. The First House and the Parc Bay unit in Sai Kung, which was purchased by Lin Baoyi, had the most impressive gains. The latest rental values both rose by about 5%.
Fang Lishen Holds First-Fold Rent 5%
The 14 luxury units listed above were distributed on Hong Kong Island, Kowloon and the New Territories. Only four of the properties recorded an increase in rental values in 2018/19, ranging from 3% to 5%. They were purchased by Fang Lishen in May last year at a cost of $44.5 million. Although the most honorable house of the Blessed House No. B, the unit’s latest rental value rose by 1 million yuan to 1,027,500 yuan, an increase of approximately 5% compared to the current year’s rental value of 978,600 yuan. The increase in rental value and Lin Baoyi’s purchase of 15.3 million yuan. Sai Kung Diqin Bay Kayinju 8 Middle Level A room with juxtaposition. The rental value of this unit rose from 281,400 yuan this year to 295,500 yuan in the next year.
The remaining two units recorded the most recent rental increase, which was purchased by the singer Xue Kaiqi with a price of $36.3 million for the purchase of 7 high-rise office buildings in Phase 1 of Ho Man Tin. The rental value of the property rose from 477,300 yuan to 498,600 yuan in the next year. The rate of increase was approximately 4.5%. Immediately after the “big beauty” Guan Zhilin took a $54 million investment in the high-rise complex of Xingyuanxuan, Wanchai, in May last year, the unit rental value was increased from 890,800 yuan this year to 9,228 yuan in the next year. Yuan, an increase of about 3%.
However, there are no changes in the rental values of many Mid-Levels luxury properties listed in the statistics, including the high-level Room J of Jiahui Park in Mid-Levels Central, which was purchased by the Emperor Zhang Jiahui for RMB 131 million in May last year. The latest rental value is maintained at RMB 1.513 million.