Hong Kong singer Keung To’s two-bedroom apartment in Sai Wan district has experienced a 13% increase in rental income, standing in stark contrast to the local property market’s downturn.
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Hong Kong singer Keung To. Photo from Keung’s Instagram |
According to Dimsum Daily, the property now generates an annual rental income of HK$406,800 (US$52,438), reflecting a rise from last year’s HK$360,000 and a 17.5% increase compared to the 2023/24 rental value of HK$346,200. Keung purchased the apartment in early 2023 for HK$18 million.
This increase is particularly notable given the ongoing downturn in Hong Kong’s property market, as reported by the South China Morning Post. Many celebrities have had to reduce their asking prices for real estate. For instance, actor Nicholas Tse lowered the rental price of his retail space by 40%, while businessman Julian Hui, husband of Miss Hong Kong 1998 Michelle Reis, listed a penthouse for HK$22.07 million below its original purchase price.
At 26, Keung is a member of the popular boy band Mirror, formed through ViuTV’s reality talent show “Good Night Show – King Maker” in 2018. He has also made waves as a solo artist, debuting in June 2019 with the single “No. 1 Seed.”
