The real estate market in Hong Kong is experiencing a peak season in June, with residential rents picking up momentum and several areas witnessing high-priced lease transactions. Among them, a duplex unit in Tung Chung's Caribbean Coast was successfully leased at a rate of HKD 50 per square foot, setting a new record for per square foot rent in the area.

According to market sources, Unit A in Block 1 of Caribbean Coast in Tung Chung, located on a high floor with a practical area of 1,396 square feet and a duplex layout comprising three rooms, was recently leased for HKD 70,000 per month, achieving a per square foot rent of HKD 50. This price sets a new record for per square foot rent in the Tung Chung area. The higher rent for this unit is attributed to recent renovation works. Additionally, there were 13 lease transactions in Caribbean Coast last month, with per square foot rents ranging from HKD 27.4 to HKD 38.7 for other units.

Data shows that the unit's owner acquired it for approximately HKD 5.688 million in 2003. Based on the new rental calculation, the owner, who has held the property for 21 years, can enjoy a high rental yield of approximately 14.8%. However, the owner transferred the unit internally for approximately HKD 17.88 million in 2021, resulting in a market value rental yield of approximately 4.7% based on this value.

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In addition, there have been cases of high per square foot rents in Quarry Bay and Sai Ying Pun. Unit A8 on a high floor of Block A at THE HOLBORN in Quarry Bay, with a practical area of 220 square feet and an open layout, was recently leased for HKD 17,500 per month, achieving a per square foot rent of HKD 79.5, setting a new record for per square foot rent in the building. Additionally, Unit K on a high floor at Artisan House 2 in Sai Ying Pun, with a practical area of 196 square feet, was leased for HKD 16,000 all-inclusive per month, resulting in a per square foot rent of HKD 82.

The luxury residential market is also thriving, driven by talent influx. It is reported that there were 51 lease transactions in May in the Southern District's luxury residential market, with a total amount of approximately HKD 6.8255 million, representing a monthly increase of 7.3%, indicating a stable growth trend in overall lease transactions. Among them, there were 25 transactions with monthly rents exceeding HKD 100,000.

One notable case is a single-numbered house at 38 Deep Water Bay Road, with a practical area of 4,419 square feet, which was successfully leased for approximately HKD 700,000 per month, resulting in a per square foot rent of HKD 158, making it one of the high-value cases in recent lease transactions. Additionally, there were 36 lease transactions in Bel-Air Bay last month, with an average per square foot rent of HKD 49. Unit A in Block 1 of Phase 2 of Bel-Air Bay, with a practical area of 1,921 square feet, was leased for HKD 100,000 all-inclusive per month, resulting in a per square foot rent of approximately HKD 52.

A research report by Midland Realty shows that there were a total of 355 lease transactions in the top 10 estates in May, an increase of approximately 17.5% compared to April, setting a new high in nearly 8 months. Although the lease-to-sale ratio in May increased by approximately 6 percentage points compared to April, reaching approximately 59%, it is still lower by approximately 14 percentage points compared to February, indicating that real estate market trading activities remain active.