The high-end residential leasing market will become active again in coming months when foreign businessmen who left Hong Kong because of Sars begin to return, a developer says.
Karen Li, director of corporate development of WingTai Asia, said 165 of its serviced apartments at Lanson Place The Waterfront Residences in Kowloon Station had been leased.
'The 100 units in block five have been leased at an average of $27 per square foot. Among them, demand for the 20 duplex apartments has been encouraging and the monthly rents are between $65,000 and $72,000,' she said.
Ms Li said the market did not have enough supply of apartments of more than 2,000 sq ft.
'Since mid-May, we have had more inquiries from multinational companies. The residential leasing market will pick up quickly, especially in September,' she said.
WingTai Asia also said three units at Lanson Place, ranging from 1,480 to 2,500 sqft, were sold recently at an average of more than $4,500 per square foot.
