Opus retains allure as demand cools
Swire signs up new tenant at the project despite downward trend in luxury residential rents
Despite the downward trend in luxury residential rents, Swire Properties has secured a new tenant at Opus Hong Kong, Asia's most expensive apartment block, people familiar with the deal said.
This is the second flat to be rented out at the 12-storey development on Stubbs Road near the Peak, after Britain's new consul general leased a unit of more than 6,000 square feet on the third floor in April.
A flat on the ninth floor was sold in October last year for HK$455 million, or HK$68,083 per square foot, an Asian record.
"As of July 17, two units have been sold and two units have been leased out at Opus," Swire told the South China Morning Post.
"Due to confidentiality agreements, we are unable to disclose information of neither the tenants nor the rents."
In December, a tenant who had agreed to pay monthly rent of HK$850,000 for a 6,000 sqft duplex unit at Opus cancelled the deal after government measures cooled demand for property.
Sources said Swire had not lowered its asking rents despite the aborted deal.