Hong Kong celebrity Jeffrey Ngai splashes out on US$16,000 rental home

Hong Kong celebrity Jeffrey Ngai recently moved into a luxurious Mid-Levels East residence, where he will be living next door to his close friend and fellow singer Ben Cheng, also known as Tyson Yoshi. The upscale property boasts a monthly rental cost of HK$130,000 (approximately US$16,581), showcasing the high demand for luxury rentals in the area, according to market sources.

Joseph Yan, a senior principal district sales director at Centaline Property, reported that the luxury residential rental market was thriving. In August, 141 rental transactions were recorded in The Peak and Southern districts, with flats priced between HK$80,000 and HK$150,000 being the most desired. The majority of these properties were situated in the Repulse Bay area.

Ngai, whose market value matches that of the popular Hong Kong boy band Mirror, commands impressive fees for endorsements and appearances. His standard fee for advertising endorsements begins at over HK$1 million, while appearance fees for brand events are at least HK$500,000. Entertainment industry insiders estimate that his annual earnings exceed HK$10 million.

Summers traditionally mark the peak season for Hong Kong's luxury property rental market, as families actively search for homes in neighborhoods equipped with excellent schools. Luxury property rentals are typically more active in the second half of the year compared to the first half. Last month, it was reported that Bonnie Wong, a popular local radio DJ and close friend of Ngai, had moved into the upscale Kadoorie Hill neighborhood.

This made her a neighbor to renowned Hong Kong celebrities Andy Lau and Kelly Chen. Although Wong later clarified that the reported rent was inaccurate.