Thanks to Chinese Students, Shatin’s Rental Surges by 30%

mtr

It has happened all the MTR rail line from Lo Wu to Sha Tin and into the heart of the city.  Living in Tai Po we see a drastic increase of mainland Chinese students and family newly residing here.  This has forced some families with lower incomes into substandard housing such as illegal and subdivided flats.

The Real Hong Kong News

Apple Daily

18th July 2013

Thanks to Chinese Students, Shatin’s Rental Surges by 30%

<多謝強國生 沙田租金升三成>

Summer holiday has just begun, more students from mainland China are competing to rent properties in Hong Kong. A two bedrooms unit (gross area: 314 sq. ft.) at Grandeur Garden in Tai Wai was leased to a student from mainland China for US$1,800 a month, an average of US$6 per sq. ft., which is 30% more than market rate. The per sq. ft. rental price is the highest ever in Tai Wai. In order to secure the problem, this mainland China student paid a year’s rent up front, amounting to US$22,100.

The Riverpark, a newly completed development in Shatin, has been receiving keen rental interested. However, given the limited supply of units, the rental also rocketed. A high floor F unit at block 1 of The Riverpark which overlooks Che Kung Temple was leased at US$2,500…

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