Investing in Co-Living Spaces in Asia: A Complete Guide

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Co-living has become a new big trend in Asia and it’s predicted to transform the real estate markets in many countries.

Everything from established developers to individual investors tries to find ways to profit from this growing industry.

Yet, before you decide to invest in co-living spaces, you must understand how the business model works practically and which countries should be of interest in Asia.

In this article, I explain what co-living spaces are, how it works when investing in co-living spaces, about the markets in the most interesting countries, and more.

What is a co-living space?

Co-living spaces are often started by companies who partner with local property owners to reduce leasing costs, to share the profits and financial burden.

Not rarely, these companies receive funding from investors to start or expand operations.

When a company has bought or leased parts of- or a whole building, they refurbish the units and install the modern amenities and utilities needed.

The units are small and with sizes of around 9 to 25 square meters with simple, but modern furniture like a bed, a desk, and a private bathroom.

Here, the idea is to spend time in the common areas, to socialize, and to engage in activities within the community. Many choose to live in co-living spaces to grow their network and to develop as persons.

Typical tenants are young persons who just arrived or that plan to stay short-term and cannot sign rental contracts stretching over 12 months.

That said, you also find locals who opt-in for co-living as it’s convenient and comparably cheap.

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Interior Design in Hong Kong: Q&A with JC Vision

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Located in Central on Hong Kong Island, JC Vision is a renowned interior design bureau with clients in Hong Kong, mainland China, Taiwan and Vietnam.

Its founder, Joseph Chang, has worked with interior design for more than 15 years and has been featured in many magazines and papers.

Some examples are Squarefoot and South China Morning Post (SCMP).

We invited Joseph to let him explain how it works when hiring an interior design bureau like JC Vision, how they manage projects and whether it’s the right thing for you.

Thanks for being here Joseph. First, can you tell us a bit more about what you do at JC Vision?

JC Vision is an interior design company and most of our projects are finished on turnkey basis.

This means that we help our clients from scratch to completion, like space planning and constructions.

Sometimes, this includes the restructuring of entire house & furniture productions.

We also take care of the aesthetic details, which give us lots of fun over treasure hunts. We can find handsome substances, Lalique decanters, mercury glass lamps, couches, nightstands….. to flower arrangements, you name it.

How would you describe your typical client?

Over the years, we have worked with people from different backgrounds.

Generally they’re businesspeople or professionals, like bankers, barristers, real estate developers, professors and retired investors.

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Buying Real Estate in Hong Kong: A Complete Guide

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Suggestion: Watch the 5 minutes video tutorial before reading this article

Hong Kong has grown from a small trading hub to become one of the top three financial centers in the world.

Even if prices reach record high levels, Hong Kong continues to be an attractive spot for overseas investors. It’s not strange, as it has some of the most efficient systems and the lowest taxes in the world.

Before you engage in Hong Kong’s property market, it’s important that you learn about the market, the buying process, prices, property taxes, and more.

In this article, you’ll learn the following:

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Buying Real Estate at Auction in Asia: Interview with World Auction Alliance

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When you think of an “Auction” in Asia you may picture a venue where people are buying luxurious paintings, jewelry, or even huge land purchases.

But wait, it’s a residential real estate auction, and the live event is open to bidding by anyone, regardless of their location, using an absolute real-time internet application open to a global audience.

Asia is now embracing auctions as an alternative method to sell and buy newly developed and under-construction residential property – and it can offer buyers the chance to get great savings over the original asking price, because at auction, “the buyers set the price.”

Auctions save time and money for all concerned and are popular all over the world to sell various assets. At a real estate auction, property can trade quickly, at fair prices, in a surprisingly open, honest, transparent, and hassle-free process.

Surprisingly, 30% of all residential sales in Australian cities are sold through auction.

In Singapore, according to JLL, it’s now being recognized as an alternative method to sell high-end units.

About World Auction Alliance:

World Auction Alliance (WAA) is headquartered in Hong Kong and its management pioneered real estate auctions in the United States; having transacted over 2,000 units and $1.1 billion in auction sales in its first 3 years.

They also elevated themselves to be one of the top three real estate auctioneers in the US.

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Top Property Management Companies in Hong Kong: A Complete Guide

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Hong Kong has some of the hottest real estate markets in the world, foreigners and mainland Chinese investors continue to push prices and property taxes to new sky-high levels.

Commercial property is high in demand, especially in the central business district where rents are among the highest in the world.

If you rent or plan to buy property in Hong Kong, you also need someone to maintain it for you. In this article, I present some of the biggest and most popular property management companies in Hong Kong.

1. Parkland Property Management

Parkland Property Management was founded in 1977 and has been a joint venture of Ryoden Development Limited and TL Property Consultants International Limited since 2011.

Ryoden Development Limited started out as early as 1983, acting as a property development company. TL Property Consultants International Limited, on the other hand, is a property consultancy from Shanghai.

The current executive director, Tony Ka-tung Leung, holds a Ph.D degree in business administration and has over 35 years of experience in real estate and in the hotel industry.

He previously worked at the Buildings & Lands Department and served several prominent property developers. The management team currently has 11 members.

The company won the award of “environmental management” in 2007 and their clients include companies like Pokfulam Terrace and many more.

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Hong Kong Property Loans for Foreigners: A Complete Guide

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Buying property in Hong Kong is straightforward and it’s not as common to come across non-serious real estate agents, in comparison with developing countries like Cambodia.

Still, prices are among the highest in the world, a reason why many Hong Kongers now decide to invest overseas, in countries like Vietnam instead.

If you buy property in Hong Kong, you’ll probably want to know what loan options you have. Therefore I’ve contacted a number of Hong Kong banks and written this guide. Let’s have a look.

How can I get a property loan as a foreigner in Hong Kong?

I was surprised when talking with different banks in Hong Kong and realized how open they are to foreign borrowers. The process to apply for loans is very similar between locals, PR holders, and non-resident foreigners. This is something we’ve seen in Singapore as well.

The key aspect that determines how much you’ll be able to obtain is mainly depending on your source of income. The banks don’t take your nationality into consideration, which is good, it’s all about your source of income.

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Top Conveyancing Lawyers in Hong Kong: A Complete Guide

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Hong Kong’s real estate industry has been a melting pot in the past years, even if the government has introduced a number of cooling measures, prices have increased insanely and real estate has become some of the most expensive in the world.

It’s not strange why some Hong Kongers seek financing to invest overseas.

Some people still prefer to buy property in Hong Kong, there’s a reason why this crown jewel attracts investors from all over the world. Low taxes, warm breezes, a business climate that makes your adrenaline flow.

If you decide to buy property in Hong Kong, it’s highly recommended to hire a Conveyancing lawyer, that can help you with communication, transfer the title, and more.

Therefore, I’ve written this article where I present some of the top Conveyancing lawyers in Hong Kong. Continue reading Top Conveyancing Lawyers in Hong Kong: A Complete Guide

Getting an Overseas Property Loan in Hong Kong: A Complete Guide

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If you’re a Hong Kong citizen or a permanently resident foreigner, you can sometimes apply for a so-called overseas mortgage.

The mortgages are designed to let you finance a property outside of Hong Kong, often you have the first contact with a bank in Hong Kong and you later transfer to a branch in the country where you intend to buy.

They sometimes even help you to fill out the application before the transfer is made.

Which banks offer overseas property loans in Hong Kong?

It’s not easy to find summarized of the banks that offer overseas mortgages (at least in comparison to Singapore), how much you can borrow, and what conditions apply.

Therefore, I decided to do some research on my own and to write this article.

I’ve personally been in contact with a number of banks and with branches in Hong Kong (and the UK) to understand what overseas mortgages they offer. Let’s have a look.

1. BOC (Bank of China)

Bank of China, sometimes referred to as BOC, is one of the top four commercial banks in China. It opened its first Hong Kong branch in 1917 and has become one of the major players.

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Top 10 Property Developers in Hong Kong: The Definitive Guide

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Hong Kong has one of the hottest real estate markets in the world and plenty of local and overseas property developers.

Interestingly, many of these companies have founders and CEOs that are some of the wealthiest in Asia, or even in the whole world.

Some focus on building commercial real estate, like hotels and shopping malls, while others build big apartment complexes and condominiums.

In this article, I’ve listed some of the biggest property developers in Hong Kong. You’ll learn when the companies established, who their founders are, what kind of property they build, and more.

1. Sun Hung Kai Properties

Founded by Kwok Tak Seng in 1863, Sun Hung Kai Properties Ltd. is one of the top 5 real estate developers in the world and the largest developer in Asia. It’s also the fastest growing developer.

They’ve completed hundreds of residential and commercial projects, including many skyscrapers. One of their most prominent projects is the International Commerce Centre (ICC), the tallest building in Hong Kong with 484 meters.

More than 37,000 people work at Sun Hung Kai at the moment.

Property types

Include everything from skyscrapers, condominiums, housing projects, townships, hotels, shopping malls, resorts, and government buildings. You have a wide range of options to invest in, with both residential and commercial properties.

Current projects

Some of their most popular residential projects are:

Continue reading Top 10 Property Developers in Hong Kong: The Definitive Guide

Buying Property on Lantau Island: By Kelly Merrick

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Lantau Island is one of the most overlooked places in Hong Kong. If you discuss Hong Kong property with any person, you’ll most often end up talking about the difficulties people have to buy a decent home, even in places like New Territories.

Well, you have other options too.

Lantau Island has more than 100,000 inhabitants and offer properties with great sceneries over the mountains and the ocean. You’ll also be able to take long walks on astonishing white beaches.

In this interview, Kelly Merrick from HomeSolutions explains the basics you need to know when buying a property on Lantau Island.

Continue reading Buying Property on Lantau Island: By Kelly Merrick