Bucking the trend

There may be a few jitters in Hong Kong about the possible fallout from international trade tensions, but one generally reliable measure of economic health – the serviced apartment market – suggests no cause for undue concern.

The signs all point to rising demand, with developers continuing to invest in mid-range and high-end suites, and operators taking steps to upgrade existing facilities and add new amenities.

“We have seen more mainland-based companies expanding their operations in Hong Kong, bringing in senior professionals, but wanting the flexible arrangements that serviced apartments offer,” says Belinda Kuan, general manager of Signature Homes, a division of Sun Hung Kai Properties. “Also, the generally positive economic environment has led more international businesses, particularly in Europe and the US, to ask executives to take up roles here.”

For clients, Kuan notes, location and convenience will always be key considerations. In most cases, proximity to the business districts of Central and West Kowloon, or other hubs such as Quarry Bay and Kowloon East, is important. They also want easy access to the airport, and now, to the high-speed rail link terminus for travel to the mainland.

Beyond the nuts and bolts, they also expect something extra, so that, no matter how long their stay, they have the feeling of being in a “home away from home” and the chance to experience the wealth of attractions Hong Kong offers.

“With that in mind, our properties are within integrated complexes that offer a wide range of high-end restaurants, shops and other entertainment options,” Kuan says. “And we are constantly refreshing the selection of amenities and appliances to keep up with evolving technology and cater to the needs of a contemporary city lifestyle.”