HONG KONG SERVICED APARTMENT GUIDE 2019 Sino Suites Ad_Eng_215x275_SquareFoot_20190328-OP.pdf 1 28/3/2019 4:00 PM C M Y CM MY CY CMY K CONTENTS 1 HONG KONG SERVICED APARTMENT GUIDE 2019 TABLE OF CONTENTS 6 20 32 38 40 52 OVERVIEW 4 Serviced Apartment Market Outlook 6 BUSTLING CITY The serviced apartment sector once 9 D’HOME again proves resilient, but for how 11 The Bauhinia long? 13 The Grand Blossom 15 Kornhill Apartments 17 The Luna 19 Harbour Plaza North Point 20 DESIGN GALORE 32 LUXE LIVING 21 V Residences & Serviced Apartments 34 Rosewood Residences Hong Kong 25 The Mercury 36 Four Seasons Place 27 Waterfront Suites Gateway Apartments 28 Little Tai Hang 37 Pacific Place Apartments Madera Residences Victoria Harbour Residence 30 Eight Kwai Fong Yin Serviced Apartments CONTENTS 2 HONG KONG SERVICED APARTMENT GUIDE 2019 Publisher TABLE OF CONTENTS REA Hong Kong Management Co. Limited. Website www.squarefoot.com.hk Country Manager, Hong Kong Kenneth Kent RELOCATION TIPS General Manager, Marketing & Brand 38 Finding Your Way Home Amanda Chase Sales Director Where exactly does one begin when relocating to Rebecca Tjouw Hong Kong? We sought expert advice for you. Group Editor Kenneth Chan Editor Annie Wong 40 URBAN NATURE Kenny Tong Assistant Editor 43 Harbour Plaza Resort City Catharina Cheung 45 Royal View Hotel Art Director 47 Eaton Residences Cato Sze 49 Regal Riverside Hotel Multimedia Designer Abby Tang 50 Hong Kong Gold Coast Residences Felder Chan Gary Chan The Ventris Distribution Operations Rita Lam Telephone Enquiries (852) 3198 1818 52 FEATURED SERVICES Advertising Enquiries 55 Patina Wellness [email protected] 56 The Unit General Enquiries [email protected] The Nate Facsimile 57 T Residence (852) 3198 1838 CHI 120 Produced by 58 Oootopia Paramount Printing Company Limited [email protected] 59 SERVICED APARTMENTS DIRECTORY FIND US ON 60 Hong Kong Island 63 Kowloon Disclaimer: Published by REA Hong Kong Management Co. Limited. This magazine is published on the understanding that the publishers, advertisers, 64 New Territories contributors and their employees are not responsible for the results of any actions, errors or omissions taken on the basis of information contained in this publication. The publisher, advertisers, contributors and their employees expressly disclaim all and any liability to any person, whether a reader of the publication or not, in respect of any action or omission or the consequences of any action or omission by any such person, whether whole or in part, upon the whole or in part of the contents of this publication. squarefoot cannot be held responsible for any errors or inaccuracies provided by advertisers or contributors. No part of this magazine may be reproduced in any form without written permission from the publisher. © 2019 REA Hong Kong Management Co. Limited. All rights reserved. A subsidiary of REA Group Ltd. Consider the environment and think green: share this magazine with friends or recycle it when you’re finished. OVERVIEW 4 Serviced Apartment Market Outlook SERVICED APARTMENT MARKET OUTLOOK The serviced apartment sector once again proves resilient, but for how long? OVERVIEW 5 Serviced Apartment Market Outlook here was a time in the 1980s and ’90s when the serviced and monthly guests) for their homier environments and designs, apartment industry was dominated by institutional increased convenience for leisure travellers with children and hotel investors and hotel operators that understood how to style amenities at (in some cases) decidedly un-hotel style prices, Tcater to 200, 300 or 400 residents. But time has passed and next on the horizon could be co-living providers. tastes have changed, and the serviced suite sector continues to grow—just in a different direction. The phenomenal growth of co-working operators (though still representing far below 10% of all office leasing globally) has proved According to Savills Hong Kong, small- to mid-sized properties that younger consumers and even established professionals are accounted for the majority of new serviced suite openings in 2018, for a total of 516 apartments: the South Tower of CM+ in Sheung willing to abandon the overhead and hassle of office space for Wan; Victoria Harbour Residence and Shama Island North, both the more nimble shared experience. Alexander Bent, managing in North Point; The Mercury in Tin Hau; and 1 Oi Tak Street in the partner of District15, the developer and operator of Tsim Sha Tsui emerging Shau Kei Wan. co-living space The Nate, is betting that will continue. Not long ago, when the first round of industrial building “It is an alternative for single executives, depending on the quality revitalisations launched, it seemed there was a boutique hotel or of the co-living operators provide. The Nate provides quality serviced apartment planned for every block. Though the market accommodation for all young and single executives.” In locations for serviced suites is stable—rents have gone up incrementally such as San Francisco, London and, naturally, Hong Kong, where since 2015—investor demand is still strong, making it one of the premium rental rates can be outside the range of fresh graduates, more popular real estate assets. “Investors are still keen to acquire young professionals and self-employed budding entrepreneurs, serviced apartments and boutique [hotels] because we are still and where bigger flats—serviced or otherwise—demand time and living in a low interest environment,” theorises Alfred Wong, senior associate director of capital markets and investment services at upkeep individual executives may not have or simply choose not Colliers International in Hong Kong. “Investors are particularly to put into vacuuming, co-living is on the rise. Shanghai-based interested in buildings with value-add potential, such as adding Harbour Apartments (partnered with Hong Kong’s Gaw Capital) is the number of rooms or renovating the existing property to planning to have one million co-living rooms in 15 countries open enhance the rental [values] … The rental and capital value remain within five years. New York-based co-living operator Common steady. We have not seen any serviced apartment buildings being and Los Angeles developer Proper Development are pushing transacted at a discounted price.” ahead with a US$100 million expansion in California. Co-living could potentially eclipse co-working for demand—and change the Some of that may stem from the high cost of office assets and a landscape for serviced apartment providers. Co-living pivots on soft retail market. Colliers’ head of research for Hong Kong and cost as well as the sharing economy and that most fundamental Southern China, Rosanna Tang, notes that interest in serviced of lifestyle elements: dinner. apartments started to tick up when the retail market ticked down. More crucially, the clientele for serviced apartments is changing. “Nowadays, multinational companies prefer to send young expats “Co-living has become an alternative because young, busy, single and executives for shorter-term stays in Hong Kong, and coupled executives usually have one thing in common: no time to cook,” with the growing number of start-up entrepreneurs coming from adds Bent. “The reason why The Nate centralises the kitchen other countries, this has been supporting the fundamental demand on the communal floor is because we would like our tenants to and occupancy of the serviced apartment sector,” she says. have the chance to interact with each other. It’s also a great spot for people who come to city for the first time. They have an That’s the case at least for now. Currently, serviced suites can be opportunity to interact and communicate with other professionals found for as little as $14,000 per month and as much as $300,000. every day.” No doubt the service sector will respond, but ‘how’ But in the way serviced apartments have been leaching nightly will be the question going down the road. guests from traditional hotels (serviced apartment providers that also carry hotel licences can toggle back and forth between nightly BUSTLING CITY 6 BUSTLING CITY BUSTLING CITY 7 SL17_DHome_215x275.pdf 1 6/4/2018 10:24 AM 8 C M Y CM MY CY CMY K SL17_DHome_215x275.pdf 1 6/4/2018 10:24 AM BUSTLING CITY 9 D’HOME D’HOME MULTIPLE LOCATIONS C Developed by Nan Fung Group, D’HOME apartments are designed From home entertainment systems to fully equipped kitchens and M with users in mind to promise versatility, a sense of comfort, a wealth of impressive in-room facilities, all spacious homes come Y warmth and tranquility in a home that is your own. with quality fittings and finishes to cater to your every comfort. CM Selected apartments come with surround-sound entertainment unit MY From short-term leasing to furnished homes and optional amenities, and iPod docking to keep guests entertained while staying in. D’HOME allows you to customise your living experience. All D’HOME CY apartments are located in prestigious districts on Hong Kong Island, The health-conscious will delight in an indoor thermostatic pool with CMY offering a wide array of furnished homes with optional amenities. Jacuzzi and sauna, world-class gym, bowling alleys, squash court and K billiard room. Leisurely moments are best spent in the reading room D’HOME in Wan Chai stands in a vibrant neighbourhood where and landscaped garden or the playroom in the children’s case. ample dining, entertainment, and cultural spots are within the immediate surroundings. Coupled with MTR stations and the city’s For a bit of luxury and pampering, extensive transportation network right on the doorstep, the furnished let the concierge arrange a limousine suites come with high accessibility best suited for modern city dwellers’ or a rental yacht for your enjoyment.