Harbour View Horizon Extortionate rent inceases

[Shaunyr]

Hi All

Has anyone else been shocked by the greedy bastards who own Harbour View and their extortionate tactics to get more rent. My "license" isnt due to finish till jan 24th but they called me to tell me that if I wanted to re-assign the lease, it would be going up by a staggering 30% (almost) from $10,500 to $13,500!!!

I couldn't believe what I was hearing, and when questioned, the chap simply said well that's the new price, take it or leave it. Has anyone else had the same issue and were you able to negotiate a better rate?

Do tell. By the way -am in tower 2 and 6th floor.

Cheers
Shaun.

[all2009]

Property price (and rent) has increased quite a lot over the past year. I think $13500 is still not a bad deal.

[Shaunyr]

Yes - thanks for your opinion. Property was still at an all time low in July only, and now things are picking up I agree but at 30%...

[geo-seb]

From what I heard massive increases after the first year are common practice at Harbor View Horizon and other serviced apartments, no matter how the property market performs.

[skylark]

I'm in the same situation. My lease is due in January too.

When I came here in June, I stupidly signed for 6 months only. Not expecting rents to increase so much so rapidly, I thought signing for 6 months initially was a wise move because I wasn't allowed to inspect the unit before moving in. Thought I could always simply renew if I liked the place.

Of course, time flies and my 6 months in paradise are nearly all gone. Now I am faced with a massive rent hike. I haven't talked to them formally but casually on the phone they told me expect around 13k-14k, up from 10k I am paying now.

Actually rents have increased everywhere to very high levels. I was talking to a real estate agent recently and he said many people have taken advantage of the high property prices to sell their flats. Now they are sitting on their cash and renting for the time being and waiting for prices to drop. Because of this new demand for rental units from traditional flat owners, rents have gone up massively.

Maybe you have also noticed, many families with children have moved in recently into HarbourView. They have always been flat buyers, not renters. That's why HV/HF dare to increase rents so much with absolutely impunity. Probably there must be waiting lists now.

I can only pray that the property market crash and burn very soon (preferably this month), otherwise I have no choice but to move out.

[Kat32]

Thanks for the post, Skylark. So that also explains why prices have soared recently. I was staying in H/F in an apartment with an amazing full harbour view. My flatmate decided to stay and got the same unit for 13.5k (1 year contract). A couple weeks later, I enquired and the same units had gone up to 16.5k. So my flatmate signed at just the right time. Couldn't believe it!!

[mindeye]

Yes, these guys are crazy. Don't pay such increase, my advice. They know there will be a rush down again so they want to make sure they get a good rate.

HK property market is like a stock market ... lots of bubbles and shit for sale.

[Shaunyr]

Looks like th places next door are up for rent too. Lots of coice and for less than what HVH and HFH are asking. Been looking and I guess could be here I'll be moving to. Of course, it may mean kitting it all out but at least its cheaper.

[Kat32]

hi Shaunyr, what are the places next door? What kind of prices are they asking?

thanks.

[Shaunyr]

Hi Kat...

Its the newish buildings to the left of HV... Its called Harbour PLace. went to have a look yesterday =- very nice and a range of prices.

well worth a look.

also try [url=http://www.gohome.com.hk]ݯ