Live Chat by LivePerson

Purchasing property in Hong Kong is not restricted to citizens or permanent residents. There are virtually no barriers to foreigners purchasing property, in the form of condominiums, in Hong Kong. Below are Asia Property Consultants' services and information that will equip you with all you need to know about purchasing property in Hong Kong:

Hong Kong’s limited land availability, along with its status as a major regional and international business hub, means Hong Kong property is some of the world’s most expensive on a per square foot basis. This is especially true for the luxury end of the market.

2.

Apart from the St. John's Cathedral, all land belongs to the government. Land tenure is on a renewable leasehold basis. Land leases have in the past been granted for 75, 99, or 999 years, and are now also being granted for 50 years.

3.

Investors purchasing property in Hong Kong’s luxury residential market faced increased prices during the second quarter of 2009. While both volume and price have increased since March, this didn't stop rents from dropping, according to CB Richard Ellis.

4.

Purchases of property in Hong Kong above $10 million in the second quarter increased 87% compared to the first quarter. With the high volume of transactions, the overall luxury residential price index remained positive, increasing 9.8% q-o-q, almost hitting 1997’s peak.

5.

Colliers International foresees rentals are unlikely to see significant increases from current levels. Moving forward, luxury residential rentals are expected to rise about 5% over the next 12 months if companies in the private sector become more aggressive with their business plans in 2010. Given the sustained buying interest in the marketplace and expectations of further growth on the economic front, the sales market is predicted to pick up additional momentum, with a further increase of 5%-10% over the next 12 months.

6.

Asia Property Consultants works with international entrepreneurs and property investors to effectively and efficiently manage all required steps for purchasing property in Hong Kong, and for selling property in Hong Kong. Services offered cater to all client's requirements for investing in real estate. The purpose can be for:

 

i) Residential real estate if migrating to Hong Kong

ii) Commercial real estate for your business activities in Hong Kong

iii) Property investment to add to your global assets

7.

Providing an overview of the Hong Kong residential and commercial property market. This can include general economic indicators, real estate cycles, current and future property trends, interest rate and currency fluctuations and how they impact on purchasing property in Hong Kong. Reliable, reputable sources are referenced to develop the most useful analysis of the property market. These include Hong Kong Land Registry, Ratings and Valuations Department (RVD), Inland Revenue Department and the Hong Kong Monetary Authority.

8.

Providing client with options for purchasing property in Hong Kong based on the pre-determined objectives and needs related to aspects such as location, size, budget, property facilities, proximity to transport, Hong Kong schools, security etc. This could include photos, locations summaries, rental yields, price histories and similar transactions.

9.

Arranging property finance for the purchase of property in Hong Kong is an important step in the process. Asia Property Consultants will present clients with financing options and negotiate mortgage terms and conditions. Leading international banks in Hong Kong are preferred for obtaining housing loans for clients, these include HSBC, ANZ Bank, DBS Bank and OCBC Bank.

10.

Appointing and supervising a local lawyer to ensure the legal matters associated with purchasing property in Hong Kong are undertaken correctly. This allows the strengths of local laws to be utilized to protect asset ownership for foreign investors.

11.

Managing the preparation and execution of key steps to purchasing property in Hong Kong such as i) signing of provisional sale and purchase agreements ii) payment of initial 5% deposit iii) signing of mortgage deed iv) final sale & purchase agreements with additional 5-10% deposit v) settling balance of agreed purchase price. The entire process can take two to three months.

12.

Asia Property Consultants provides invaluable tax and accounting advice to investors in order to minimize current and future taxation related to purchasing property in Hong Kong.

13.

For more information on the Hong Kong property market and transacted prices, visit our Hong Kong property market page.

Apart from managing the purchase process, Asia Property Consultants assists clients with other post purchase aspects such as:

i)

Supervising property management activities such as property maintenance, refurbishments, security, property valuations, ad hoc problem solving and issues resolution.

ii)

Organizing property insurance to secure the structure and contents of your newly acquired asset.

iii)

Arranging requirements for migration to Hong Kong including immigration visas, move co-ordination, relocation services and country orientation.

For more information on purchasing property in Hong Kong, call our Hong Kong office at (+852) 8331 1911 or contact email@healyconsultants.com