Now Hong Kong is a particular administrative region of China. The star interns of real estate business are growing rapidly. Due to the physical geographic restrictions in Hong Kong, there is a limited supply of residential and commercial properties for sale. the following article is going to give you a quick recap of what you need to know when you want to buy an apartment in Hong Kong if you are traveling in Hong Kong and want to settle there.
Type of apartment you can consider to buy in hong kong include
Apartment with Rooftops
Oftentimes, buildings on the upper floors of residential buildings in Hong Kong have their own roof. In addition to the obvious access to more space, there is the option of breathtaking views of the city, fresher air and of course little or no noise from traffic. When choosing a top floor Hong Kong apartment, you need to make sure there are no leaks as the top floor always suffers the most from the elements. During the summer months, the average rainfall from May to mid-September is three hundred and seventy-four mm, according to the Hong Kong Observatory, although it can rise to one hundred mm in August. If the color of the floorboards, watermarks on the walls, and/or the ceiling changes, it is obvious that water damage is occurring in this apartment. In addition, furniture and equipment must be fastened during the typhoon season with wind speeds of one hundred and eighteen km / h and a maximum of two hundred and twenty km / h.
Apartments with terrace
Many Hong Kong residential buildings have tribunal designs, with the advantage that the 1st floor of all buildings has access to a private terrace. While this may be a good idea, there are downsides to falling debris from the upper floors and drains. In some cases, the terrace can be larger than the apartment, so there are many homeowners illegally building on the terrace. While these minor nuisances exist, the owner can easily request their removal, but at his own expense.
Modern apartments with facilities
Most apartment buildings in Hong Kong have utility costs, most of which are included in the rental price. Some of them have gyms, swimming pools, tennis courts, karaoke courts, and also playgrounds for children. Not only do they look better and offer a lot more convenient options, but the safety, which is a crucial factor, is better. Yes, it all sounds great, but Hong Kong all have a price that you have to be willing to pay if you want to. When traveling to Hong Kong Island, you should be aware that some Hong Kong residential complexes currently have high-status numbers in Bel Air Pokfulam. Hillsborough Court has a mid-level center, a lighting terrace in Tai Hang, and of course, the Belchers found in Kennedy Town.
Chinese walkup flats
Hong Kong old-style apartments with no elevators are commonly referred to as Chinese. Although these apartments have an old facade and often lack access and security, apartments in these buildings are generally more efficient because fewer common areas of the entire area are included. Many immigrants want to buy these old buildings as many homes can have unique and modern interiors with high ceilings and larger floor plans that are difficult to find in new but more highly generated homes in Hong Kong. However, keep in mind that most ancient Chinese trips have nothing to do with town gas. As a result, heating the kitchen and water is powered by electricity and can be inconvenient for some. These types of old-style apartments are particularly popular in the Sheungan, Kowloon, and New Areas neighborhoods.
What determines the price of each apartment mention above in hong kong
Gross Square Feet
The practice of real estate in Hong Kong is somewhat confusing when determining the size of an apartment. Since Hong Kong is traditionally a very sparse city, developers have advertised the size of the property as a full square meter to create the illusion of a larger apartment. In fact, the total area of an apartment is equal to the total covered area and can include separate areas of the common areas such as the elevator and main foyer, clubhouse and administrative office, etc.
It is more relevant to compare properties by area square meters. The sale includes a balcony but doesn’t include all public areas, but the catch is retail space that real estate agents don’t openly declare. The ratio of the space to the total floor space in Hong Kong can be between 70% and around 83% (efficiency). To save time when buying a property, do not indicate the specific total area, but the range depends on the apartment you want.
The higher the apartment, the higher the space efficiency
An interesting fact is that the higher the apartment is in the building, the better the space efficiency. This is because the entire area of the apartment is a covered area which unfortunately includes all of the space on the structural walls. The higher the location of the apartment building, the thinner the building walls, since there are fewer buildings and therefore more living space.
Curtains and fittings
When looking for an apartment for sale in Hong Kong, it is a common mistake not to realize that the apartment has no curtains and to find out too late because the apartments are bought as is. In Hong Kong, curtains and fittings are not offered when buying new apartments although there are some real estate agents who provide them, while the curtains are kept in renovated apartments because they are quite expensive and also gather dust in the empty apartment. If the apartment doesn’t have curtains and accessories, make sure the agent has a contract to install it. Depending on the landlord, you may be able to pay this out of pocket.
Conclusion
Real estate investors from around the world are buying in the growth forecast period and are devoting significant amounts of money to the Hong Kong market. There are no such restrictions in Hong Kong when it comes to restrictions on foreign investors. In theory, everyone has the right to buy real estate. As in the real estate industry in all cities, real estate in Hong Kong is now considered undervalued.
