Suburban residents reap the benefits

Prospective tenants are enjoying a greater choice of serviced apartments because of a growing supply of accommodation in decentralised districts.

These units rent for relatively low rates compared with serviced apartments in traditional locations such as the Mid-Levels and Admiralty.

According to property consultants Chesterton Petty, monthly rents for luxury apartments range between $80,000 and $120,000. Rents for second-tier units - mainly in decentralised areas - range from $20,000 to $30,000 a month and some are even below $10,000.

Joseph Ho of the Gold Coast Hotel in Tuen Mun said it was a natural trend for more developers to build hotels in decentralised areas because of the Government's development strategy for the city as well as the improved infrastructure.

Some of the new hotels include serviced suites.

Cheung Kong (Holdings) and its associate, Hutchison Whampoa, are launching hotels in decentralised areas. They include the 566-room hotel Harbour Plaza North Point. The hotel, which is expected to be completed early next year, is targeted at expatriates working in Taikoo Shing and Quarry Bay.

Through its hotel management unit, Harbour Plaza Hotel Management (International), the Cheung Kong group has just opened the 1,102-room Harbour Plaza Resort City in Tin Shui Wai.