THE demand for serviced apartments has dramatically increased during the past year as more and more expatriates arrive in Hongkong on extended business ventures.
Richard Ellis residential manager Ms Jan McNally said the trend towards serviced flats continued to rise.
''There is a big demand at the moment because it gives people an option to move into an apartment straight away, rather than having to stay in a hotel. If you have a family this is certainly the best way to do it,'' Ms McNally said.
''We have some clients who are put on waiting lists for serviced flats.
''This would have been quite unusual about a year ago but now it's quite common for people to go into a fully furnished flat for a few months after initially arriving in Hongkong. Now people are taking the flats for up to two years.
''We mainly deal with expats but we have a lot of overseas Chinese coming back to Hongkong who would prefer to go into a small, fully furnished apartment.'' Ms McNally said the cost of a serviced apartment depended on the location, size and facilities provided.