The new series of custom built ensuite rooms cater to the increasing demand for community living amidst a challenging rental market
HONG KONG, Nov. 25, 2020 /PRNewswire/ — Hmlet, Asia-Pacific’s fastest-growing property and lifestyle platform has launched an innovative community living facility in the heart of Tin Hau, an upcoming area within walking distance of the Causeway Bay business district.
The property is the first such residential-hotel hybrid of its kind, and will expand the brand’s ecosystem of flexible living spaces in Hong Kong where there has been a sustained demand for communal living options, particularly from young professionals.
"Despite the weakening rental market environment in Hong Kong, Hmlet has seen healthy occupancy rates of more than 92% in Q4 with more than 200 units under our management. The new Tin Hau property further caters to the increasing demand for affordable housing amidst challenging market conditions," said Yoan Kamalski, CEO of Hmlet.
Located on Tsing Fung Street, within walking distance to Victoria Park, Causeway Bay shopping area and the Tai Hang enclave, the retro 6,000 square feet tenement building has been transformed by Hmlet’s in-house interior design team into 27 renovated ensuite master bedrooms spread across nine apartment units.
The units are managed by Hmlet on behalf of the building’s landlord and include common living spaces that are only shared among a small group of individuals for privacy. Residents also have access to hotel-like services like housekeeping and laundry services via the Hmlet app.
"The Hmlet in-house interior design team took care of the entire rejuvenation process of the aging tenement building and have created a truly unique layout and design that perfectly matches the vibe of the quickly gentrifying district surrounding the building," said Law Chun Ming, Landlord for Tsing Fung Street Building.
The new facility is now available on Hmlet’s digital platform, where consumers can choose to virtually tour the property before renting. Depending on room size, monthly stays range between HK$11,000 to HK$14,000 a month for a fully-furnished room, inclusive of all bills, WiFi and weekly cleaning. Members who book a longer stay of at least 12 months will also enjoy preferential rates.
Through its transparent online processes, 3D video tours and accompanying ecosystem of on-demand services, Hmlet aims to eradicate guesswork from property searches and provide a seamless and hassle-free rental process. The new property is also the newest in the company’s long list of efforts to help landlords create value by embracing technology, partnering with related businesses and bringing services like interior design and furniture rental into traditional forms of housing to create viable long- or short-stay offers.
"Hmlet is a seasoned mid-to-long stay operator and building manager with an international footprint. They have proven to be of outstanding help throughout the process of changing our hotel to create a long-stay product that is in high demand. We would not have been able to unlock the potential of the long-stay market without them," said landlord of 90-room hotel on Nathan Road.
In 2019, Hmlet raised US$40 Million in a Series B round led by Burda Principal Investments that will allow the company to continue bridging the gaps in demand for flexible, secure and lifestyle-oriented housing in gateway cities that are seeing increasing demand for a higher degree of housing services.
Since its launch in 2016, Hmlet has become the leading and fastest growing property and lifestyle platform in Asia-Pacific with more than 100 locations in Singapore, Hong Kong, Australia, Japan, Malaysia and Thailand with plans to operate 5,000 rooms by the end of 2020. Responding to the changing industry dynamics and a deeper understanding of customers, Hmlet operates an ecosystem of real-estate related offerings including property listings, furniture rental and interior design services to provide people with a hassle-free living experience.
Visit www.hmlet.com to find out more.
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