Top-end tenants still favour the high-quality residential area of Hong Kong Island but Kowloon West is gaining ground
HONG KONG ISLAND, specifically Mid-Levels, with its easy access to the central business district, has long been seen as the prime area for expatriate business executives looking to lease property, but one player in the market has recently been experiencing an interesting trend that is seeing some tenants crossing the harbour and moving to Kowloon West.
Estate agent Luxury Rental concentrates on the leasing of top-quality units in prestigious properties.
'We focus mainly on Mid-Levels, where we are the sole marketing agent for Fairlane Tower at 2B Bowen Road, for example. However, we also lease properties in areas such as Pok Fu Lam, and have recently seen an increase in interest at The Arch in Kowloon,' director Michael Fung said.
About 40 per cent of Luxury Rental's clients are from North America and 30 per cent from Europe.
'We are seeing increasing numbers of Asian expatriates, especially from South Korea and Singapore, and they are almost up to 30 per cent of our client base now.'