450sq.ft Flat + 1000sq.ft Patio

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  1. #1

    Join Date
    Mar 2009
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    Hong Kong
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    3

    Wink 450sq.ft Flat + 1000sq.ft Patio

    Hi Guys,


    What will you do if you were me!!!!!!!!

    I just got an apartment in Mcgregor Street,Wanchai, (450sq.ft Flat + 1000sq.ft Patio) I am ready to put HK$250K to turn it up-side-down for rental.

    Question as following.
    1/ Return have to be above HK$23K/Month.
    2/ This question has to do with 1.
    a) Will any expat want to rent a flat with big patio for HK$23K/M with fully furnish(only bring your own toothpaste) located in the heart of Wanchai? Obv. its gonna be a lovely patio with garden deco., planty of green.
    b) Shareflat.
    Turn flat into 3 small cozy studio. Patio is gonna be common area. (Prices still reach HK$23K)

    Your revise ideas will be helpful to make my move.


  2. #2

    Join Date
    Aug 2005
    Location
    Clear Water Bay (In Da Jungle)
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    I would go with option 1, if you choose to make it 3 small rooms instead, who would pay 7K for a 150 sq/ft small room, also 1 tenent is better than dealing with 3 tenents.

    23K still seems steep but you have a massive patio which could be a good selling point.


  3. #3

    Join Date
    Jun 2008
    Posts
    24

    I think one falt with large Patio is better than small studios with a common area


  4. #4

    Join Date
    May 2003
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    2,207

    I think 23K is very steep. I lived in Central in a 500sf 1 bedroom serviced apartment with a 500sf patio a few years back - the rent was 16K.


  5. #5

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    Mar 2009
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    Talking

    Hi ! Wtbhotia and Dodino,
    Thanks for the quick responses and do make the points. appreciate it...

    Hi ! Elle,
    Perherp I'm a bit greedy...hee~~hee~~


  6. #6

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    Dec 2002
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    There is only so much use for a patio .. given the weather in this town.


  7. #7

    Join Date
    Dec 2002
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    >> Perherp I'm a bit greedy...hee~~hee~~

    Lots of threads here about greedy landlords who think they can take expats for a ride ....

    You're not the first one ...


  8. #8

    Join Date
    Apr 2005
    Location
    Sai Kung
    Posts
    8,561

    personally, i cannot imagine paying that much for your flat! wow! $23k for 450'???

    wow!
    i'd much rather live WAYYYYYYY out where i do, have 4.5X the space (2100'), 700' rooftop & 1000' garden for 1/3 of what you are asking! yikes!
    i can pay my rent AND run a second hand car for what you are asking in rent!


  9. #9

    Join Date
    Aug 2008
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    HIGH UP IN THE SKY
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    i don't care what color i am or expat or not. at the current market, you can easily get a nice 1000 sq ft apartment with facilities for $23k in a decent area.

    just ask yourself the same question, would you pay $23k to live there?


  10. #10

    Join Date
    Mar 2009
    Location
    Hong Kong
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    3

    Thumbs up

    Wow...good to know more about my greedy side from someone else, I love to hear more in order to improve myself, as I know money isn't anything...

    Of-course, I can promise you guys the effort that I gonna to put on this flat will make tenant feels money worth spend. Don't want to take anyone for ride.


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