Rental Prices on Centadata.com

[loun80]

On centadata.com, I see that there's a column called"Lastest Transacted Price".

Are the prices in this column the latest rental prices?

[MandM!]

I thought so but I do feel like the companies add a "price" to encourage more sellers/landlords. I am no professional tho.

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[John Doe Jr]

DeletedUser is right. Centadata is generally a reliable reference.

OP, can I ask what your interest is in this info? Are you negotiating a lease?

[dumbdonkey]

some landlords like to offer 1 or 2 months free rent in exchange for a higher monthly rental rate

[loun80]

DeletedUser is right. Centadata is generally a reliable reference.

OP, can I ask what your interest is in this info? Are you negotiating a lease?

I'm currently looking for a place to rent and I will use centadata.com as reference to how much I should pay. I'll also use that data for negotiating.

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[loun80]

some landlords like to offer 1 or 2 months free rent in exchange for a higher monthly rental rate

What's the best way to negotiate 1-2 month free rent? How long would my lease need to be before I have a good chance of negotiating 1-2 months free?

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[loun80]

I just looked a little more closely. The data under the column "Lastest Transacted Price" is not the rental price. The amount under this column looks like the purchase price divded by the square footage.

[John Doe Jr]

I just looked a little more closely. The data under the column "Lastest Transacted Price" is not the rental price. The amount under this column looks like the purchase price divded by the square footage.

They mix both rental and sale transactions on the one scrolling display (giving total and price per square foot - or unit price - figures in both contexts).

So for Taikoo Shing:

A Middle Floor (T-39) MARIGOLD MANSION HARBOUR VIEW GARDENS EAST TAIKOO SHING Centaline was transacted on 25/05/12 (Lease)$42000 1237s.f. Unit Price: $34

E Lower Floor (T-62) NAM TIEN MANSION HORIZON GARDENS TAIKOO SHING Centaline was transacted on 18/05/12 (Lease)$23000 831s.f. Unit Price: $28

A Middle Floor (T-22) MING KUNG MANSION KAM DIN TERRACE TAIKOO SHING Centaline was transacted on 16/05/12 $8.15M 800s.f. Unit Price: $10188

F Upper Floor (T-42) WISTERIA MANSION HARBOUR VIEW GARDENS EAST TAIKOO SHING Centaline was transacted on 10/05/12 (Lease)$28500 983s.f. Unit Price: $29

H Middle Floor (T-24) HAN KUNG MANSION KAM DIN TERRACE TAIKOO SHING Centaline was transacted on 10/05/12 (Lease)$25000 806s.f. Unit Price: $31

G Upper Floor (T-21) YUAN KUNG MANSION KAM DIN TERRACE TAIKOO SHING Centaline was transacted on 10/05/12 $7.07M 675s.f. Unit Price: $10474

D Middle Floor (T-39) MARIGOLD MANSION HARBOUR VIEW GARDENS EAST TAIKOO SHING Market was transacted on 10/05/12 (Lease)$30500 1029s.f. Unit Price: $30

H Lower Floor (T-38) JUNIPER MANSION HARBOUR VIEW GARDENS WEST TAIKOO SHING Centaline was transacted on 10/05/12 $13.20M 1237s.f. Unit Price: $10671

E Middle Floor (T-13) WAH SHAN MANSION KAO SHAN TERRACE TAIKOO SHING Centaline was transacted on 10/05/12 (Lease)$17000 691s.f. Unit Price: $25

E Upper Floor (T-44) PAK HOI MANSION KWUN HOI TERRACE TAIKOO SHING Centaline was transacted on 09/05/12 $8.45M 825s.f. Unit Price: $10242

E Lower Floor (T-42) WISTERIA MANSION HARBOUR VIEW GARDENS EAST TAIKOO SHING Market was transacted on 09/05/12 $10.34M 1029s.f. Unit Price: $10047

If you can only find sale prices for the apartments you're interested in, it might simply be because there have not been any recent rental agreements signed in those buildings. In which case, you might need to go back further in time, though those figures may not reflect current pricing.

No doubt you'll also be factoring in the possibility that the prices you find may reflect an unspecified rent-free period, differences between decorations in different flats, differences in views, whether high-floor or not etc.

And no-one can account for the ultimate dynamics that play out between a particular landlord and tenant, which is why every now and then you might come across a pricing anomaly.

In any event, these data are just a guide and, useful as they are, neither you nor a landlord is bound by them.

[shenwen]

some landlords like to offer 1 or 2 months free rent in exchange for a higher monthly rental rate

I have never heard of this. I have received two weeks rent free, but two months on a 12 month lease? Are you sure?

[Satay Sue]

Sounds like you'd have to be paying a massive mark-up to get that! You get so little "free" in HK!