Hong Kong Property Market and Real Estate Guide

(Hong Kong, China)

A bustling metropolis, Hong Kong was once part of the British Commonwealth and features a strong British influence. Tourists travel here to soak up the atmosphere, indulge in a spot of shopping and visit Hong Kong's numerous exciting attractions.

Hong Kong is a city with limited land and the cost of real estate ranks as one of the highest in the world for both buying and renting. However, property prices vary significantly depending on size, amenities and location.

Some of the most desirable property is located in areas such as the Peak, Central, the Southside and Mid-levels. However, property located in the Outlying Islands and the New Territories tends to be plentiful, as well as significantly more affordable.

Renting Serviced Apartments

Modern fully serviced apartments are available to rent in and around Hong Kong for both short and long term residents. The first word in luxury and style, these apartments are highly sought after and often require a large bank balance.

However, those who can afford to secure a serviced apartment in Hong Kong will be treated to the very best in life, including en-suite bathrooms, spacious balconies and shared facilities, such as swimming pools and gyms.

Buying Apartments and Houses

There are no restrictions on the types of properties that are available to foreigners in Hong Kong, and it is possible to purchase either through an agent or directly from the owner. However, the purchaser should bear in mind that in addition to the property cost they need to pay an additional 1.5 percent in taxes. An application to purchase property needs to be submitted beforehand, and the main advantage with going through an agent is that they take care of all the paperwork for a small fee.

Real Estate Agents

There are a large number of real estate agents to choose from in Hong Kong and it is essential to pick an agent who you can work with well and will keep your needs firmly in mind. While it is tempting to opt for the agent with the largest portfolio, smaller agents often have more time to devote to individual clients. Reading reviews from previous clients can help to narrow the selection process and most of the best agents offer comprehensive websites to browse through.

Hong Kong Homes
Address: 1304 Admiralty Centre Tower 1, 18 Harcourt Road, Hong Kong, China, CN
Tel: +852 2866 0130
Email: info@hongkonghomes.com
Website: www.hongkonghomes.com
Renowned for their knowledge of the local property market, Hong Kong Homes is one of the leading estate agents in the area.

Metro City
Address: Mid-Levels G / F, 31 - 37 Mosque Street, Hong Kong, China, CN
Tel: +852 2869 6321
Email: info@metrocity.hk
Website: www.metrocity.hk
Offering two branches in Hong Kong, this leading real estate agency offers a fresh approach to the local property market.

Savills
Address: 23 / F, Two Exchange Square, Hong Kong, China, CN
Tel: +852 2868 4386
Email: rlee@savills.com.hk
Website: www.savills.com.hk
Established in 1855, Savills has four branches and specialises in tracking down quality properties for purchase or rent.