Heiress Deborah Ho raises rent by HK$2,000, leases Western District four-bedroom luxury residence for HKD$72,000

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    Deborah Ho

    14th May 2024 – (Hong Kong) Island Crest in Sai Ying Pun’s Island Crest has recently achieved a leasing success, with a four-bedroom unit being rented out for HK$72,000 per month. The rental rate stands at HK$62.1 per square foot, marking an increase of HK$2,000 compared to two years ago, representing a nearly 3% surge. Reports indicate that the property is owned by Deborah Ho, the eldest daughter of the late gambling tycoon Stanley Ho.

    According to market sources, the unit in question is a high-rise Type B apartment with a practical area of 1,160 square feet, featuring a four-bedroom layout. Initially listed for rent at HK$75,000, the final agreement settled at HK$72,000 per month, translating to a rate of HK$62.1 per square foot. Data reveals that the previous rental transaction for this unit took place in 2022, with a monthly rent of around HK$70,000. Consequently, the latest rental price reflects an increase of HK$2,000, accounting for approximately 2.8% growth.

    Deborah Ho acquired the property in 2011 for HK$35 million and has maintained it for rental purposes ever since. The current leasing arrangement yields a rental return of approximately 2.5%.