Tag Archives: Hong Kong SAR

Hong Kong Property Market Outlook in 2019: A Complete Overview

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Hong Kong is famously known for being one of the easiest and best places to do business in the world. Income and corporate taxes are a fraction compared to many Western countries and places like Vietnam and Mainland China.

Not to forget, the market is transparent and closely regulated and Hong Kong will always be a preferred destination and perform well in the long run.

Foreign property investors, mainly from Mainland China, have poured in the past years and the property market is one of the hottest and most frequently mentioned in the local and foreign media.

In this article, I explain how Hong Kong’s property market has performed the past years, what’s driving the market, and what my predictions are for the market in 2019.

Hong Kong’s property market in 2017 & 2018: A throwback

Hong Kong’s property market is one of the hottest and Hong Kong real estate is among the most expensive in the world, outperforming places like Singapore and Sydney.

Real estate prices have increased by double digits the past years, in the second quarter of 2018, the year-on-year price increase was 13.5%, a bit higher than the price increase in the first quarter of 2018.

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Top Property Management Companies in Hong Kong: A Complete Guide

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Hong Kong’s real estate market is probably the hottest in the world, foreigners and especially Mainlanders continue to push prices to new sky-high levels. The Central Business District is one of the main drivers, where rents are among the highest in the world.

Renting or buying property in Hong Kong also means that you will need to find a local property management company that can maintain it for you. In this article, you’ll learn more about some of the biggest and most popular property management companies in Hong Kong.

1. Parkland Property Management

Parkland Property Management founded in 1977. It’s been a joint venture of Ryoden Development Limited and TL Property Consultants International Limited since 2011. Ryoden Development Limited started in 1983 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 PHD degree in business administration and has over 35 years of experience in real estate and the hotel industry.

He previously worked at Buildings and Lands Department of the Hong Kong Government and various prominent listed property developers. The management team has 11 staffs on board. The company has won the award of environmental management in 2007. Their clients include 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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Do you plan to buy property in Hong Kong S.A.R.?
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Hong Kong’s real estate industry has been a melting pot the past years, even if the government has introduced a number of cooling measures, prices have increased insanely and property 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, to transfer the title and more. Therefore, I’ve written this article where I present some of the top Conveyancing lawyers in Hong Kong.

Introductory remark

a. There are hundreds of firms operating in Hong Kong so I’ve decided to write about both multinational firms and smaller local firms, as these serve different types of clients. If you’re dealing with bigger transactions and involved in commercial property, then perhaps Baker McKenzie is the right firm for you. If you’re an individual investor who want to buy residential real estate, then you should probably look elsewhere.

b. The Conveyancing lawyers are listed in a random order.

1. Hastings & Co.

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

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If you’re a Hong Kong citizen or a permanent 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 about the banks that offer overseas mortgages (at least in comparison to Singapore), how much you can borrow and what conditions that 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 Real Estate Agencies in Hong Kong: The Ultimate Guide

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Do you plan to buy property in Hong Kong S.A.R.?
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Hong Kong is the crown jewel of Asia and one of the top 3 financial cities in the world. Fortunately, but not surprisingly, the legal system is transparent and buying property is straight forward, you won’t need to deal with complicated nominee structures like in many other countries in the region.

However, if you look for a real estate agent, you’ll have a number of options to choose between. It’s not strange as the city has been a global hotspot for decades. Therefore, I decided to write this article where I list some of the biggest and most reputable real estate agencies in Hong Kong.

Let’s have a look.

Introductory remark

The agents are listed in a random order.

1. Engel Völkers

Engel Völkers is one of the biggest franchised real estate networks in the world, they have offices in 800 different locations and employs over 10,000 professionals. The company was originally founded in Hamburg in 1977. Chris Liem is the Principal and Owner of Engel Völkers Hong Kong, he previously worked at Lehman Brothers and has managed to grow the office to around 20 persons.

The company has won a number of awards and reached major achievements, including:

a. “Best of the Best” Mid-levels Real Estate Agency by Squarefoot in 2012

b. Named Best Real Estate Agency in Central and Sheung Wan by GoHome for 2011

c. Engel & Völkers Hong Kong is the home of the 8th Top Agent in the Engel & Völkers global network for rental transactions

Property types

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Buying Commercial Property in Hong Kong: The Definitive Guide

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Commercial property is an untapped area for many investors, but you can reap great yields if you do your research and dedicate some time and effort.

You have a number of options if you decide to buy commercial property, including everything from retail to industrial and not to forget – car parks.

However, the commercial market is rarely spoken about in the media, you mostly hear about how prime office prices change on a quarterly basis.

Therefore, I decided to write this article that explains how you can buy commercial property a bit more in detail.

Hong Kong commercial property market

The Hong Kong market is one of the freest in the world and highly speculative, that’s why you often read articles about it in newspapers like SCMP, Bloomberg and Straits Times. It’s also diverse, you have a different variety of sectors where people buy and sell, including retail, office, industrial and others.

The sectors are thereafter divided into different sub categories, like restaurants, hostels, hotels, car parks, warehouses, I think you get my point. That’s why it’s difficult to explain the market in short words.

The office prices in the CBD (Central Business District) in Central get more attention and you’ll have difficulties to find information about other sectors and areas.

Looking at commercial property in general, including industrial, retail and office space, prices in Hong Kong have outperformed other major hubs (like Manhattan) greatly and tripled during a time period as short as a decade.

Not only is the residential market considered the most expensive in the world. Setting new price record time after time, many analysts claim that office prices are overvalued in Central.

So why are land prices and office prices continuing to climb higher?

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Top 10 Property Developers in Hong Kong: The Definitive Guide

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Do you plan to buy property in Hong Kong S.A.R.?
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Hong Kong has one of the hottest real estate markets and there are many real estate developers who operate in this small crown jewel.

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

However, their projects differ as some focus on commercial buildings like hotels and shopping malls, while others build apartment complexes and condominiums.

In this article, I’ve listed the most popular and biggest property developers in Hong Kong.

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 so far, including many skyscrapers. One of their most notable works is the second tallest building in Hong Kong.

More than 37,000 people work Sun Hung Kai which just proves how big this company is.

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 housing projects are:

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Buying Property on Lantau Island: By Kelly Merrick (interview)

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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.

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How to Buy Property in Hong Kong: A Complete Guide

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

Do you plan to buy property in Hong Kong S.A.R.?
Click here to get in touch with an experienced agent

Hong Kong has one of the most business friendly climates in the world and ranked as one of the World’s top 3 financial centers together with London and New York.

It’s not surprising why Hong Kong has seen a big influx of foreign investors over the past decade.

Even if the property market is less regulated compared to other Asian cities, there are important regulations you need to beware of beforehand, as a foreigner.

In this article, I’ll tell you the necessary info you need to know before you invest in a Hong Kong property.

Can foreigners and mainlanders buy property in Hong Kong?

Hong Kong is one of the freest economies in Asia, foreigners and mainlanders don’t have any particular restrictions to buy properties there.

Combining that with extremely competitive interest rates and low taxes, it’s not strange why the prices have increased tremendously the past decade.

However, there are some restrictions, for example to ownership of land that you should be aware of.

Let me explain:

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