Stressed-out executives home in on Parkview
Luxury serviced apartments at the Hong Kong Parkview in Tai Tam have achieved an occupancy rate of 75 per cent, an indication that demand for top quality development remains strong.
Linda Robinson, residential leasing and international properties executive director of Colliers Jardine, said the company had received numerous enquiries for serviced apartments between 2,000 sq ft and 3,000 sq ft.
Ms Robinson believed the demand was fuelled by multination al corporations who preferred to send their executives to Hong Kong on a short-term basis instead of setting up permanent offices here.
Despite the economic slowdown in the United States, she said the trend of expatriate arrivals has not changed. Many corporations are still keen to explore business opportunities from China's imminent entry into the World Trade Organisation.
Hong Kong Parkview, which comprises 200 serviced apartments, should be an ideal accommodation for them as the landlord offers flexible leasing terms.
Units measuring 770 sq ft to 1,320 sq ft rent for $45,000 to $82,000 a month, or $15,400 to $25,200 a week.
The rates include charges for club membership, parking space, government rates, management fees, utilities charge, and maid service.
Ms Robinson said supply of large-sized service apartments has remained tight.
Meanwhile, Hong Kong Parkview is providing tenants with broadband Internet access. Its European interior design also appeals to customers.
As most tenants are senior executives who generally live a stressful life, they certainly would like to stay in a peaceful place like Hong Kong Parkview which is near a country park.
Ms Robinson said Hong Kong Parkview has not lost out on other luxury serviced apartments as it only takes around 10 minutes by car to the Star Ferry.
She said most expatriates prefer to stay in serviced apartments rather than hotels because the former make them feel at home. Their families are probably averse to the idea of staying in hotels for long stretches of time.
Hong Kong Parkview's wide range of restaurants are also attractive to tenants. The development has a supermarket, florist and beauty salon. It is near a kindergarten and some international schools. It offers bus service, concierge, and babysitting.
Hong Kong Parkview is located in Wong Nei Chung Gap Road. Completed in 1989, it is high on the list of sought-after apartment complexes because of its facilities and high standard of finish.