Date
22 January 2017
An apartment at Grand Promenade (L) could cost less to rent in terms of price per square foot than some sub-divided units in nearby areas, according to a survey. Photos: HKEJ
An apartment at Grand Promenade (L) could cost less to rent in terms of price per square foot than some sub-divided units in nearby areas, according to a survey. Photos: HKEJ

Sub-divided units can cost more in rent/sq ft than regular flats

Renting a sub-divided unit (SDU) in Hong Kong could now cost more than renting a small apartment in terms of per-square-foot price, according to a survey.

The median per-square-foot (psf) rent of SDUs in the Eastern District of Hong Kong Island has reached HK$40.6, according to a study by Caritas Community Development Service. 

In comparison, a 490 sq. ft. flat in Grand Promenade residential estate in the same area would cost only HK$37.8 psf to rent, Caritas said.

A similar situation can also be found in Sham Shui Po, where the median per-square-foot rents of SDUs stands at HK$34, higher than the HK$32 psf rent at a unit at the luxury Heya Green estate, according to the survey.

The Caritas report, which was unveiled Thursday, was based on a survey conducted between December and January, the Hong Kong Economic Journal reported.

More than 430 people were interviewed for the survey.

Meanwhile, the results of a government survey show that there were some 25,200 quarters with SDUs in private buildings, accounting for 3.8 percent of all quarters in those buildings.

That survey was carried out between May and September last year. 

The total number of SDUs in those quarters was estimated to be some 88,800.

The “Thematic Household Survey on Housing Conditions in 2015″ was conducted by the Census and Statistics Department with an aim to estimate the total number of SDUs in private buildings that were at least 25 years old, and the total number of households living in these SDUs.

It found that some 87,600 households, or 199,900 people, were living in SDUs.

On average, each unit of quarters with SDUs was sub-divided into 3.5 SDUs, with average area of SDU per capita being 5.8 square meters.

For households living in SDUs, their median monthly rental payment was HK$4,200, up more than 10 percent from a year earlier, while their median rent to income ratio rose to 32.3 percent from 30.8 percent.

Lai Kin-kei, director of housing concern group Alliance for Defending Grassroots Housing Rights, urged authorities to utilize idle land resources and boost public housing supply to meet the needs of locals.

- Contact us at [email protected]

TL/AC/RC

EJI Weekly Newsletter