2024-04-29 28Hse Editor
In the past two years, Hong Kong has been hit by the epidemic, and many assets have depreciated sharply, especially the ground floor properties that have been hit the most. However, the super mansion does not appear to be affected. The mansion at No. 35 Barker Road, owned by the founder of Henderson Land, Lee Shau Kee (the fourth uncle), was the most expensive mansion for the second year in a row. According to the latest information from the Valuation Department, the latest rental value of the mansion is as high as 26.4624 million yuan per year, the highest among all luxury houses in Hong Kong. However, it is worth noting that the latest rental values were calculated based on the market conditions in October last year, when property prices were still on an upward trajectory. In other words, the impact of the fifth wave of the epidemic had not been taken into account. ◆reporter Yan Lunle
The mansion at No. 35 Barker Road on the Peak, owned by Henderson Land founder Lee Shau Kee (the fourth uncle), was the most expensive mansion in Hong Kong by calculating the rental value for the first time last year. , equivalent to a monthly rent of 2.2052 million yuan.
The annual rent of the Barker Road mansion is 26.46 million
It is understood that the mansion on Barker Road was purchased by the fourth uncle in the middle of 2010 for 1.82 billion yuan, and then the land price was paid to build three houses. The project was approved for occupancy in 2018, but did not finally show its rental value until it was updated in March 2021.
The three bungalows at 35 Barker Road range from 8,124 square feet to 8,788 square feet, all with rooftops ranging from 1,660 square feet to 2,511 square feet. According to the information from the Valuation Department, the rateable values of the three houses ranged from HKD 8.16 million to HKD 9.24 million respectively. In terms of single-family houses, in fact, No. 13 Big Wave Bay Road, Shek O, owned by Tencent Chairman Ma Huateng, is the most expensive. The rental value rose 2.9% this year to 12.81 million yuan, surpassing No. 89 Repulse Bay Road as the single-family house with the highest rental value in Hong Kong.
In terms of other super luxury properties, most of the rental values remained unchanged from the previous year, and some even recorded an increase. Among them, the mansion of CKH Holdings founder Li Ka-shing at 79 Deep Water Bay Road rebounded 5.6% this year to 9.036 million yuan. 37 Deep Water Bay Road, owned by CKH Holdings Co-Managing Director Fok Jianning, also rose 6.7% this year to 7.656 million yuan, an increase that was more prominent among the super luxury properties. As for the top-floor unit of the Lee Shau Kee family's stratified luxury mansion Huiyuan on MacDonnell Road in Mid-Levels, the rental value has fallen for three consecutive years, and this year it has dropped by nearly 3% to 5.4594 million yuan.
In contrast, the rental value of shops is a different story. Although the rental value of most shops has fallen sharply compared to the previous year, the rental value of most shops has narrowed this year, but there are still some shops that have experienced a larger rental decline, such as G/F, 38 Russell Street, Causeway Bay. The latest rental value of Shops E and F and Room F on the 1st floor was 27.72 million yuan, down 29.8% year-on-year. A2, G/F, No. 2 Cannon Street, Causeway Bay, a mini shop with an area of about 50 square feet, the latest rental value is 600,000 yuan, down 39.7% year-on-year.
Amoy Garden's rental value rose 7% year-on-year
As for the general residential market, due to theThe city is on an upward trajectory, and the rental value of many housing estates has remained unchanged or recorded an increase. According to market statistics and data from the Valuation Department, the general increase was within 5%, with the most prominent increase being the 13th-floor room in the upper floors of Block A, Amoy Garden, Ngau Tau Kok. The latest rental value was 136,400 yuan, up 7% year-on-year. As for an open-plan apartment with a usable area of 128 sq. ft. in Tuen Mun's "Dragon Bed Plan", the rental value in the new year is 30,000 yuan, an increase of 7.2% year-on-year, outperforming many traditional large-scale housing estates.
In fact, despite the severe epidemic, rents have fallen less than property prices. Midland conducted an online rental intention survey earlier and successfully returned 548 questionnaires, of which 61% of the respondents believed that the rent would remain stable or increase in the next six months. Liu Jiahui, chief analyst of Midland Properties, said that under the influence of the epidemic, residential rents have fallen for five consecutive months, with a cumulative decline of about 2.6%. However, it is worth noting that although the leasing cases facilitated by the bank in the first two months of this year fell by about 9% year-on-year, it was still about 16% higher than the same period in 2020, reflecting that the demand for leasing is still strong.
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