25 March 2015 - Homeseekers used to compromise on accessibility for cheaper rent when looking for properties in the Western District. Yet the district’s rental price has recorded a significant double-digit increase since the opening of the West Island Line three months ago.
According to On.cc, the average rent per square foot for The Merton and Queen’s Terrace, two residential developments near Kennedy Town Station and Sai Ying Pun Station, has risen by 14.5% and 13% respectively this year; while the price for The Zenith, a similar development in Wan Chai, dropped by $0.1 within the same period.
The average rent per square foot difference between Wan Chai and the Western District narrowed from $6 to $2 last year. While rental price of The Zenith remains at a stable level of $40/square foot, rents in The Merton and Queen’s Terrace are still on a rising tide, currently averaging $38.8 and $37.2/square foot respectively.
The West Island Line will be in full service when Sai Ying Pun Station opens this Sunday (March 29). MTR Corporation held an open day last week, where many Western District residents expressed their excitement of having an improved transportation network and their worries of a further price rise for properties within the community.
Properties for Rent in Western District Properties for Rent in Wan Chai
