What you should know about Real Estate in Hong Kong

find and rent an apartment in hong kong

Hong Kong is the fourth most expensive city in the world in terms of real estate. Although prices are soaring in the residential areas of Hong Kong Island and Kowloon, the New Territories and surrounding communities are home to attractive accommodation that is offered at reasonable cost. Finding accommodation for rental, purchase or rental is possible in Hong Kong.

The city of Hong Kong offers Apartments for rent in Hong Kong with several choices of accommodation for expatriates who can choose between rental, purchase or roommate. The accommodations found are generally English-style houses of 3 to 4 floors, apartments in buildings of 5 to 6 floors maximum or apartments in towers. Given the high demand for real estate, it is easier to find apartments than villas.

Which district to choose in Hong Kong?

Apartments for rent in Hong Kong is very expensive since several residential areas are located in these areas. Peak, Repulse Bay, South Bay and Stanley are some of the most famous residential areas, with breathtaking views of the harbor, surrounding islands or the sea. Several expatriates live in the Mid-Levels, Pok fu lam, Happy Valley and Jardine's neighborhoods Lookout where the rents are more or less reasonable. These places also have the advantage of being more practical, being close to shops, bus services and schools. The New Territories, although far from Hong Kong Island and Kowloon, are home to individual houses at more affordable costs. In this area, residents have the opportunity to

How to find accommodation in Hong Kong?

In Hong Kong, it usually takes a month to find accommodation. Those who choose to rent can either consult the advertisements in the real estate supplements of the press or contact the local real estate agencies. This second option is also recommended for those who wish to buy while people looking for a roommate have the possibility of consulting or placing advertisements with the agency Roommate Hong Kong. Contacting a good local real estate agency increases your chances of finding accommodation quickly, but you can also find English and French speaking agencies such as FDP Savills, Knight Frank, House Hunters Ltd, Sallman's Residential, Professionnal Property Ltd. However, for more satisfaction, it is important to clearly explain its requirements, needs and budget.

Other useful information

The rent of a house or Apartments for rent in Wan Chai depends on its location, the type of accommodation, its surface, the age of the building, the view, and the equipment, the proximity of utilities sought after services (swimming pool, parking, playground and others). When selecting accommodation, you must make sure that the environment meets your expectations, taking into account construction or renovation work in progress or to come to avoid noise pollution. It is also advisable to check the available means of transport (bus or ferries) and the duration of the journey to access the city center, supermarkets, schools, by visiting the place at different times. You should know that air conditioning is necessary during periods of extreme heat and parking lots are subject to charges. They are not included in the services of the rented premises. It should be noted that the common areas are usually included in the valuation of the leased space while the rental charges (maintenance costs, water and electricity) may or may not be included in the rent. The owner generally requests two months deposit and to reserve an apartment, the future tenant signs a letter of rental proposal accompanied by a check equivalent to one month's rent. In addition to the agency commission, the cost of registering the lease varying from 0.25 to 1% of the annual rent is shared between the tenant and the owner. In addition, the tenant is subject to the payment of the annual government tax representing 5% of the rent. It should be noted that the common areas are usually included in the valuation of the leased space while the rental charges (maintenance costs, water and electricity) may or may not be included in the rent.