Airbnb flats on Hong Kong’s Peak cheaper than on Lamma and Lantau islands, data shows
As Airbnb listings in the city shoot up despite stiff penalties, two-bedroom flats on outlying islands are being let out for nearly HK$13,000 more a month on average than in the city’s most exclusive residential area
Hong Kong homeowners are increasingly brushing off the threat of stiff legal penalties for operating “unlicensed guest houses” by letting flats or rooms on short-term rentals website Airbnb, a data map shows.
The biggest surprise is that two-bedroom properties accommodating four people in rural southern Lantau and on Lamma Island command much higher rentals than comparable properties in luxury residential areas including The Peak and Mid-Levels on Hong Kong Island.
GuestReady’s map shows that two-bedroom properties on the two outlying islands are let for an average of HK$42,692 a month. On The Peak, home to celebrities and tycoons, landlords are asking for an average of about HK$29,867 a month for a flat of similar size, the map shows. The Peak is also the second most popular area among Airbnb users searching for accommodation in Hong Kong.
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The main reason for the high rents in Lamma and southern Lantau seems to be the relative scarcity of available flats, says Lou Chan, co-founder and managing director for Hong Kong at GuestReady. There are about 300 listings for the outlying islands as a whole.