When choosing suitable locations for new serviced apartments, operators are increasingly looking for sites beyond Hong Kong's traditional core areas.
In part, this reflects the shift of large corporate employers from offices in Central or Tsim Sha Tsui to less pricey districts across town. It also signals the general buoyancy of the sector, with demand sufficient to spur new investment in properties that have all the expected facilities, yet offer something a little different from the standard city lifestyle.
'We start by looking at areas from a general demographic point of view,' says Daniel Kerr, director of operations for Ovolo Group, which has six developments in Hong Kong and is keen to keep expanding. 'Our brand is about effortless living, so we look for convenience, good local amenities, and the chance to work with residents who represent different markets.'
As an example, the company's apartments in Sham Shui Po are popular with people who work in the textile trade and for design colleges. The block at Shek Pai Wan in Aberdeen deliberately has a more 'out-of-town' feel and attracts quite a few university staff, IT and digital media types.
In adding to the portfolio, it is particularly important to track changes and anticipate needs. These relate to the broader corporate requirements and the way people want to live. It also means giving value for money, especially at a time when employer budgets and personal allowances are likely to remain under pressure.
'At the moment, Kowloon offers a lot of opportunity for us,' Kerr says. 'With the decentralisation of office space and so many companies moving to areas like Kwun Tong, it is a great market to come into. Also, the expansion of the MTR to the west and south of Hong Kong Island will give us the chance to expand our presence there.'