Hong Kong has long been a financial hub and a city of prosperity, but the global economic crisis has led to plunging prices and the devaluation of property. Al Jazeera’s Aela Callan reports on the city’s once-booming property sector.
Welcome to the Internet, the online resource that allows you to search for Hong Kong real estate market properties in an instant. You are offered a wealth of resources, specialized search engines and detailed property listings for your very own convenience. It will only take a few moments before you come across something that you like and contacting the Hong Kong real estate agent will be quite a pleasure.
Whether you are interested in apartments, penthouses or simple studios, the Hong Kong real estate market is filled with attractive offers. Properties are presented online and can be easily discovered through professional listings. All one has to do is contact the Hong Kong real estate agent working on the property and find out more details. Each property is presented in detail, the size being mentioned in square feet and the location conveniently displayed. One can find out about the number of bedrooms, bathrooms, the existence of dining and living rooms. Some properties have studies, balconies and terraces. Other features may include: parquet floors, maid’s room and sea view.
When searching for a property, the Internet can be one of the most advantageous resources. It can show the best properties on the Hong Kong real estate market, with living spaces suitable to one’s personal needs and available budget. Once one finds a property to suit his/her interest, the Hong Kong real estate agent can be contacted and a meeting to view the property in question can be scheduled. With live property viewing, the prospective owner has the opportunity to check out the internal living space, the bedroom arrangement and the kitchen area, just to give out a few examples.
It’s no wonder that the Hong Kong real estate market has diversified so much, given the increased demand for high-end apartments and other luxurious accommodations.
However, there are many people out there who are also interested in affordable places to live, such as studio apartments or similar properties. For them, just like for the high-end buyers, there are numerous opportunities presented online through professional listings. Contacting a specialized Hong Kong real estate agent will help you understand the features of these properties better, and thus, you will be able to take a more informed decision.
Checking out the current property offers and the on-going trends, we can see that the most popular choice is represented by Hong Kong apartments. These are commonly located in stylish residential areas and they attract a lot of buyers, having a rather affordable price for the amenities offered. One can even find an apartment that has already been decorated, not to mention equipped with everything that is necessary for comfortable living.
Don’t think of Hong Kong real estate market as one of the most expensive in the world. Go online and look for affordable properties, apartments that are situated in nice neighborhoods and fully-equipped. Talk to a Hong Kong real estate agent about your needs and discuss the most recent trends. Use all the information you have to select the best residential area to live in and make a home!
Our website is open to anyone who desires to check out the latest properties on the Hong Kong real estate market. You can find many exciting offers and talk to a Hong Kong real estate agent about the best ones out there!
With more than 250 islands, Hong Kong is an incredible destination, located at the south eastern tip of China. Covering an area of 1104 square kilometers, it is a special administrative region of the People’s Republic of China.
Once described as a ‘desolate rock’ area, the city has now been transformed into a great financial, trading and business centre. Indeed, it is an international city, with an amazing mix of the cultures and sophistication from both east and west. Many reputable international companies functions with Hong Kong as the base for carrying out their core business activities.
In recent years, the city has also gained much popularity as an educational center, the evidence for which is hundreds of foreigners including Europeans and Canadians studying in many of the reputable educational institutions here. In addition, the place is a hot tourist destination with an incomparable array of attractions such as soaring towers, artistic edifices, interesting museums, beautiful parks and gardens, ancient shrines, and much more. Above all, the destination enjoys a great deal of autonomy except in the case of defense and foreign affairs.
Probably for these causes, many people from across the globe are now getting attracted to invest in real estate here. Real estate in Hong Kong is regarded as one of the priciest in the world. For instance, the Peak – a much favored residential area in the city, located between Victoria Peak and Mount Gough – is one of the most expensive areas in the world.
Likewise, many of the posh destinations in the area claim to have record prices. According to some recent publications, the property price in the city has rose to more than $ 3500 per sq ft or more than $ 300 per sq mt. It is estimated that even a small house or apartment in the dull areas of the city costs more than two million Hong Kong dollars.
Nowadays, people prefer to invest here due to a myriad of reasons. Some people may invest in residential real estate including house, condo, penthouse, and villa, in order rent it out. By way of renting out the property, it can fetch you a minimum of at least HK$ 100,000 per year.
However, when you consider Hong Kong real estate for renting purpose and that too to the region’s expatriate community, it is important that you invest in some of the most exclusive areas of the city. On contrary, if you are planning to invest in property here in order to sell it out after some times, then you should go for such a real estate within the area that has strong potential for developments. There are some people who consider real estate investment as a means to enhance their business activities.
One of the obvious benefits of investing in property here is accessibility to one of the world’s leading trade market. Since no specific restrictions are imposed to buy a property in the Hong Kong, it benefits many foreigners to invest here. Further, the laws and regulation involved in the purchase of real estate here is quite liberal. Above all, investing in real estate can undoubtedly fetch you huge profits.
Since the city is a former British colony, its property law is structured on the basis of English law. Every process in connection with acquiring of a property in the place is governed by Conveyancing and Ordinance. This in turn has attracted many European real estate investors. A specialty of Hong Kong Property Law is that all of the property found here belongs to government, ie, all real estate in Hong Kong is held under leasehold title. Hence, those who are interested in property investment buy an agreement or a lease for a period ranging from 50 to 999 years.
A real estate or property in the city can be either solely owned by one person or through jointly by several investors. However, joint investment may be usually in the form of tenant or a joint tenancy. Further, a property can also be owned through a company structure. But, in case, if a company would like to conduct its business through the purchase of a property on lease, then it should be registered with the Hong Kong Companies Registry. In addition, every type of lease should be listed at the Hong Kong’ Land Registry.
A plethora of real estate firms have now come forward to find and acquire your dream property in the city. Some of them even provide the services of professional lawyers to help you in carrying out buying procedures, including listing on the Hong Kong Companies Registry and negotiation of purchase. Additionally, there are also real estate firms providing steps to arrange mortgages for the purchase of property.
The financial crisis from which the entire world has to suffer, didn’t give the Hong Kong real estate market a break. At the real estate agencies around the city, prices have dropped 20 percent in November 2008 and this will continue in 2009 furthermore. Growing public expectations of a repeat of a 2003 slump, when the outbreak of severe acute respiratory syndrome (also known as SARS), ravaged the entire Hong Kong economy, prompted Sun Hung Kai Properties to predict last week that prices would rebound 5 percent in 2009. Lee Shau-kee, the chairman of the Henderson Land has a different opinion as he stated that the bad times have past for the Hong Kong real estate market and he also added that the worst of the world economic slowdown was yet to come. On the contrary, Stephen Riady who is the president of Lippo Group stated: “I think Hong Kong will probably go down much more. It’s a very volatile market. It’ll go down more than Singapore”.
At the end of November 2008, a Reuter’s poll of analysts showed that the apartment prices in Hong Kong will go down 20% by the beginning of 2010 just like the prices from Singapore will go down by 21%. Even worse than that, a brokerage house specializing in derivatives called GFI Colliers stated the Hong Kong real estate prices will hit rock bottom in December 2009 when the prices will be -25% in comparison with the present prices. The vice-president stated that many landlords (starting from small to big ones) wanted to switch to cash but the prices continued to go down because they couldn’t find any buyers for their homes and banks were requesting down payments between 30%-40% compared to only 10% which was in the prior crisis period.
Beek said that: “Some are off-loading at 30 percent discounts, but struggling to sell” and “Many buyers think they might as well wait another four or five months for prices to come down more”. The Hong Kong real estate transactions reached a 17-year low in November 2008 – down almost 87% in value from 2007. The entire territory is in recession, not just only the real estate domain; exports reached unprecedented minimums due to the continuous weakening global demand. Fully dependent on the financial industry, many people are facing large-scale job cuts at hedge funds and investment banks.
Another punch taken by the real estate market was when the mortgage rates were increased by the Bank of China Hong Kong and HSBC. An analyst at CLSA by the name of Nicole Wong affirmed that she expects that the residential prices will go down by 15% in 2009. She also stated that real estate outperformed the Hang Seng index when home prices slid in 1998 and 2001, and said that Sun Hung Kai, Henderson and Sino Land had value.
All things considered, the situation isn’t very good for the Hong Kong real estate market but hopefully in 2010 the situation will get back on a normal track not only for Hong Kong but for the entire world because the crisis affects each and everyone.
Spread across an area of 1,092 square kilometers, Hong Kong is the Special Administrative Region of China. Apart from being a hot tourist destination, Hong Kong is also an economic as well as trade center.
Due to its excellent legal and banking systems, many overseas business firms have made Hong Kong as their regional headquarters. This in turn has tremendously increased the demand for Hong Kong’s commercial real estate, including office spaces, shopping malls, and retail stores.
The worldwide demand for commercial spaces also comes from arenas including law firms, financial institutions, and accountants. In addition to overseas investors, a growing number of mainland companies are also taking up office spaces in Hong Kong. In short, commercial real estate in Hong Kong has now turned out to be a demand-driven scenario. As a result, in recent years, the sale price of commercial property has been pushed up. Further, the rents charged on commercial real estate are exceptionally high, ranging from HK$22 to HK$105 per square foot per month.
Investing in commercial real estate in Hong Kong provides great benefits to investors. One of the prime benefits of investing in a Hong Kong commercial property is that it provides you access to one of the world’s established markets. Another great benefit of investing in a commercial property is that not any kind of restrictions have been imposed on international investors to buy a property or asset. Further, purchasing a commercial real estate in Hong Kong is considered one of the best options for long term investment, as it can undoubtedly fetch you huge profits by way of renting and leasing.
Above all, the laws and regulations in connection with the process of buying commercial real estate are quite simple and liberal. Once you have found an appropriate property, an Agreement of Sale and Purchase would be signed between the property owner and investor, and this completes the sale procedure.
The buying processes related to the purchase of commercial property in Hong Kong are administered by the Conveyancing and Ordinance, which is structured in the form of English Law. In other words, the real estate law of Hong Kong is akin to one found in the UK, which in turn has attracted many American and British commercial real estate investors.
One of the unique things regarding the Hong Kong Property Law is that all of the land found here belongs to government, ie, each of the real estate in Hong Kong is held under leasehold title. Hence, those who are interested in property investment buy an agreement or a lease for a period ranging from 50 to 999 years.
A real estate or property in Hong Kong can be either solely owned by one person or through jointly by several investors. However, joint investment may be usually in the form of tenant or a joint tenancy. Further, a property can also be owned through a company structure. But, in case, if a company would like to conduct its business through the purchase of a property on lease, then it should be registered with the Hong Kong Companies Registry. In addition, every type of lease should be listed at the Hong Kong’ Land Registry.
A plethora of real estate firms now operate in Hong Kong in order to help you find your dream commercial property. In other words, commercial real estate is one of core businesses of many real estate companies in Hong Kong. They offer a continuum of services in connection with the commercial real estate, such as, sale of commercial as well as retail property, office leasing, retail leasing, leasing and sales of industrial property, sale and acquisition of development sites, leasing and management of shopping centers, and asset management with regard to commercial, retail, and industrial.
Additionally, majority of them provide the services of professional lawyers to help you in effectively carrying out buying procedures, such as tax matters, Hong Kong Companies Registry, and negotiation of purchase. In addition, there are also real estate firms providing steps to arrange mortgages for the purchase of commercial property. But, prior to approaching a service provider, it is important to undertake an investigation with regard to their reputation and the quality as well as efficiency of service rendered.
A part of the Guangdong province as well as the Special Administrative Region of China – Hong Kong is one of the most vibrant and intriguing destinations in the world. Hong Kong is also among the world’ most busiest and fast-paced cities.
Hence, no wonder why real estate in Hong Kong is so much sought after. Real estate in Hong Kong is regarded as one of the costliest as well as the lucrative in the world. In other words, buildings and land in Hong Kong form a significant portion of the nation’s wealth and economy. Further, due to its attractive tax system, many international business firms and corporations find their way to Hong Kong for the establishment of their innovative projects. This in turn has led to great demand for high grade industrial and residential real estate in the city.
According to certain records, the cost of residential real estate in the city has gone up to US$ 585 per sq ft. The price is even higher in such posh areas as the Peak – the area between Victoria Peak and Mount Gough, covering spots such as Peak, Victoria Gap, Mount Kellet, Jardine’s Corner, Mount Gough, and Plantation Road.
Nowadays, great choices as well as potential are made available for those who are interested in real estate investment in Hong Kong. Additionally, real estate in Hong Kong provides great benefits to investors. The main advantage is that investing in a property in the city allows you to have access to world’s one of the established markets.
Another worth mentioning benefit of investing in a real estate here is that not any kind of restrictions have been imposed on international investors to buy a property or asset. Further, buying a real estate in Hong Kong is considered one of the best options for long term investment, as it can undoubtedly fetch you huge profits.
Above all, the laws and procedures involved in the process of real estate buying are liberal as well as simple. Once you have found an appropriate property, an Agreement of Sale and Purchase would be signed between the property owner and investor, and this completes the sale procedure.
Hong Kong’s property buying processes are administered by the Conveyancing and Ordinance, which is modeled in the form of English Law. In other words, the real estate law of this Special Administrative Region is quite similar to the one found in the UK, which in turn has attracted many American and British real estate investors.
One of the unique things regarding the Hong Kong Property Law is that all of the land found here belongs to government, ie, each of the real estate in Hong Kong is held under leasehold title. Hence, those who are interested in property investment buy an agreement or a lease for a period ranging from 50 to 999 years.
A real estate or property in Hong Kong can be either solely owned by one person or through jointly by several investors. However, joint investment may be usually in the form of tenant or a joint tenancy. Further, a property can also be owned through a company structure. But, in case, if a company would like to conduct its business through the purchase of a property on lease, then it should be registered with the Hong Kong Companies Registry. In addition, every type of lease should be listed at the Hong Kong’ Land Registry.
Nowadays, a large number of real estate firms and realtors are now there in order to help you find and buy your dream property in Hong Kong, no matter it is single detached home, villa, apartment, office, or industrial space. Many of them render the services of professional lawyers to help you in effectively carrying out buying procedures, such as agreement process, listing on the Hong Kong Land Registry or Hong Kong Companies Registry, tax matters, and negotiation of purchase.
In addition, there are also real estate firms providing steps to arrange mortgages for the purchase of property. But, prior to approaching a service provider, it is important to undertake an investigation with regard to their reputation and the quality of service rendered. Some firms may charge huge fee. Hence, it must be checked for. Apart from other sources such as yellow pages, magazines, and newspapers, the internet also serves as an excellent source to find the most competent service provider in Hong Kong.
Hong Kong is the Special Administrative region of the People’s Republic of China, located on the east part of the Pearl River Delta, with Guangdong Province to the south. Once a typical trading port and later a crown colony of the UK till 1997, Hong Kong has now become one of the leading financial centers in the world.
Al though, a part of China under the policy, ‘one country, two systems,’ Hong Kong enjoys its own legal system, monetary system, and immigration policies. However, the defense and foreign affairs of Hong Kong are administered by the Central People’s Government. When comes to attractions, Hong Kong presents a diverse range of sights, all of which are unique and refreshing. Above all, living in Hong Kong is absolutely safe in contrast to living in other Asian cities.
Nowadays, many large corporations have chosen this former British colony as their headquarters to carry out business activities. Despite its soaring buildings and hi-fi business set ups, Hong Kong offers residents as well as vacationers an unmatched serene tranquility. Probably, for these causes, both commercial and residential real estate in Hong Kong are of equal importance.
Hong Kong residential real estate is regarded as the most lucrative as well as the priciest in the world. The most prominent of Hong Kong’s landmarks, the Peak – officially known as Victoria Peak – boasts of the most expensive residential real estate in the world. With its stunning views, Lilliputian pines, eye catching bamboo and fern plantations, and vines of exceptional beauty, this posh area’s many of the houses, flats, and villas are occupied by top executives of banks as well as corporate giants. A residential property in the Peak costs almost $5,500 per square foot. Further, residential properties in many of the regions in Hong Kong have record prices. As per certain records, a small house in one of the dull areas of the city is more than two million Hong Kong dollars.
Depending upon the requirements of people, a variety of residential real estate properties are available, such as, single detached homes, penthouses, villas, apartments, and flats. There are also special types of residential properties, especially designed for senior citizens, such as Housing for Senior Citizens and self-contained flats developed by Hong Kong Housing Authority – the main developer of public housing in Hong Kong.
Today, people invest in residential real estate due to a myriad of reasons. Mostly, residential properties are chosen for renting out. It is estimated that a residential property in Hong Kong can get you a minimum of HK$ 100,000 annually.
Since many westerners prefer this destination for long stay or to spend a relaxed retirement life, the demand for residential real property has tremendously increased than ever before. However, a residential property can fetch you profits only if your property is located in the city’s posh areas with easy accessibility to almost all facilities and attractions in the area. If a residential property is acquired to sell it after some times, then go for a property located in such areas that have strong potential for growth.
A great benefit of investing in residential real estate it serves as an excellent long term investments, yielding handsome profits. Since Hong Kong’s property value is constantly increasing, you can sell it at a price 20-50% higher than the amount for which you purchased. Likewise, investing in residential property is a great way to earn safe income by renting out. Above all, foreigners can easily invest in residential real estate, as law and regulations in connection to them are quite liberal.
The procedures in connection with the purchase of real estate in Hong Kong are administered by the Conveyancing and Ordinance, which is structured on the basis of English law. One of the features of Hong Kong Property Law is that each of the real estate property found here belongs to government, ie, all property here is acquired under leasehold title. Hence, those who are interested in property investment buy an agreement or a lease for a period ranging from 50 to 999 years.
With a myriad of real estate firms and property builders in the firm, you could easily find your dream residential property in Hong Kong. Majority of them even render the services professional attorneys to perform procedures related to buying of residential real estate. In addition, some of them even arrange mortgages for the purchase of real estate property.
The Hong Kong real estate market has practically exploded in the past few years, with more and more types of properties being presented to prospective buyers. They’ve all learned to rely on the Internet in order to find the Hong Kong property they are interested in, welcoming the avalanche of specialized resources and the wide availability of information. Today, it only takes a couple of minutes to find the home of your dreams in Hong Kong!
If you are a home seeker looking for the best deal, then you should not hesitate to use the Internet. Go online and start searching for Hong Kong real estate. Not only will you find the Hong Kong property you were looking for but it is guaranteed that you are going to love the prices presented as well. Just browse through the many properties offered by specialized companies and take a look at the amenities offered, the location and things like that. You do not want to jump at the first offer as there may be many other interesting ones to check out.
Once you found yourself online in search of a Hong Kong property, all you have to do is select a resource that you consider to be trustworthy. Then, use the search engine they put to your disposal to discover the greatest offers for Hong Kong real estate. Be careful to mention whether you want to look at properties that are for sale or for rent; don’t hesitate to enter as many keywords as possible to be given more options. You will also have to select a price range (consider your budget) and the number of sq ft for the property.
The best thing about the Internet is that hundreds of results are generated in an instant. Using the right resource to look at Hong Kong real estate, you will find properties that are available both for sale and rent. You will have the opportunity to check all of them out, benefiting from a simple search for a Hong Kong property. These websites often extract the information presented from various websites, thus offering you complete results for your search. You just have to take your time and browse through their listings, looking at the properties that interest you the most and taking a final decision.
Why spend your time looking at various websites that present listings for Hong Kong real estate? You will end up being confused at property prices and things like that. Go online and look for one that provides all the listings through a real estate search engine. Use all the information to get a better idea of the things you should look for in a Hong Kong property; be careful to check out if any of the property listings have been up-dated and settle for the best possible deal.
No matter what people say, the Internet remains one of the best resources to be used when it comes to finding a Hong Kong property. There are many specialized companies that put to the disposal of their clients real estate search engines and present them with all the information they need to know. If you are prepared to see what the Hong Kong real estate market has to offer, then there is no better place to star than the World Wide Web!
