A high‑rise unit in the newly launched YOHO West development in Tianshui was leased within a week of being listed. The 437‑square‑foot, two‑room apartment (Unit A10, Phase 1, Tower 3A) faces north and was offered at a monthly rent of HK$16,000, equivalent to HK$36.6 per usable square foot. The property was purchased by the owner in December 2023 for HK$5.2249 million. Based on the current rent, the annual yield is approximately 3.7 percent. “The unit was taken up within a week of being on the market,” said Wu Yaozu, vice‑regional director of Central Real Estate. In a separate transaction, a three‑room, two‑living‑room apartment in the Zhile Garden complex in Tuen Mun was leased under a two‑year fixed lease. The 511‑square‑foot unit (Unit C, Tower 8) was bought by the owner earlier this year for about HK$3.36 million, a price close to the free‑market value. After completion of the handover and refurbishment, the owner listed the unit at HK$12,500 per month, a reduction of HK$1,000 from the initial asking price. This rent translates to HK$24.5 per usable square foot. “The tenant was attracted by the spacious layout and the convenience of direct transport links to their workplace,” said Pan Jiayin, executive director of Xiangyi Real Estate. “The owner valued the security of a two‑year fixed lease and therefore offered a slightly lower rent.” The rental yield based on the purchase price is roughly 4.5 percent.
Article source: Sing Tao Electronic Daily | Image credit: Sing Tao Electronic Daily