Buying Industrial Real Estate in Hong Kong: A Complete Guide

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Do you plan to buy property in Hong Kong SAR?
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Hong Kong serves as a consolidation hub in Asia and has plenty of third-party logistics facilities and warehouses.

It has transformed from having much manufacturing in textiles, plastics, and shipbuilding to primarily becoming the home of many logistics service providers.

While the residential real estate market has become the most expensive in the world, there are plenty of investment opportunities in Hong Kong’s commercial real estate market.

Today, I explain how foreign investors can buy industrial real estate and what you must pay attention to.

Topics covered:

  • Can foreigners buy industrial real estate in Hong Kong?
  • Hong Kong’s Industrial Property Market
  • Asian eCommerce Markets Drive the Demand for Warehouses
  • Industrial Areas in Hong Kong
  • Benefits of Buying Industrial Property in Hong Kong
  • How can I find industrial buildings for sale?
  • Taxes

Can foreigners buy industrial real estate in Hong Kong?

Foreigners have no particular issues to acquire real estate in Hong Kong but it can only be done on a leasehold basis. As such, you cannot own real estate on a freehold basis, no matter if it’s residential or commercial. Continue reading Buying Industrial Real Estate in Hong Kong: A Complete Guide

Hong Kong Property Market Outlook 2021: A Complete Overview

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Hong Kong had a tough time in 2019 and suffered from a weakened economy, the ongoing trade war between the US and China, and violent protests.

In 2020, the city faced the same dilemma as COVID-19 spread globally and forced countries and regions into lockdowns.

With that said, Hong Kong has remained resilient despite these unrests. Since 2003, the market has seen a six-fold increase in the index of private home prices.

Prices dropped by as little as 4% from May 2019 until the protest broke out and the COVID-19 pandemic started. The demand has primarily been supported by low-interest rates and a great scarcity of land.

With that said, we move into unknown territories for 2021. In this article, I share my predictions for Hong Kong’s property market in 2021.

Topics covered:

  • Hong Kong’s Property Market in Previous Years
  • Hong Kong Property Prices in 2019
  • How was the market affected by the COVID-19 pandemic in 2020?
  • Why is Hong Kong property so expensive?
  • How will Hong Kong’s property market perform in 2021?
  • Is buying a property in Hong Kong a good investment?

Hong Kong’s Property Market in Previous Years

Hong Kong has the most expensive property market in the world, outperforming places like Singapore and Sydney.

Real estate prices have increased by double digits, making real estate inaccessible to many locals. As of 2020, houses averaged more than USD 1.2 million, which is kind of unbelievable.

Looking at real price increases, in the second quarter of 2018, the year-on-year price increase was 13.5%, which was a bit higher than the price increase in the first quarter of 2018.

At the same time, the average sales value per transaction increased by 8.4%, according to Colliers.

Colliers also reported that the supply of residential units increased by 12% in 2018 compared to 2017. The luxury residential rents increased by 4% in 2018.

Nowadays, you can buy a 10-bedroom house in many European countries for the same price as a 28 square meter apartment in Hong Kong. Besides, the average price per square meter in Ho Chi Minh City is only 14% of that in Hong Kong.

Hong Kong Property Prices in 2019

Looking at real price levels, the average price per square meter was around USD 22,507 in April 2019. That was almost twice as much as Singapore’s average of around USD 11,442.

Prices have grown strongly for over a decade, except for a brief slump in 2016 due to the mortgage rate hike. We also saw price decreases during the second half of 2018 and 2019. The Centa-City Leading Index CCL shows the price increases from 1996 – August 2019, which speaks for itself. Continue reading Hong Kong Property Market Outlook 2021: A Complete Overview

Top 5 Hong Kong Property Exhibitions 2021

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Hong Kong is one of Asia’s biggest hubs for real estate exhibitions where investors and companies can expand their network and learn more about overseas real estate markets.

Visiting property exhibitions is the preferred choice among many investors in Hong Kong as you can discuss with professionals face-to-face and learn about ongoing trends first-hand.

With that said, it can be challenging to find information about interesting property exhibitions online. In this guide, I present five of the biggest and most popular exhibitions in Hong Kong.

1. SMART Investment & International Property Expo

The SMART Investment & International Property Expo is managed by SMART Expo, they held the first event as early as 2004.

It’s the biggest real estate expo for service providers and global investors who operate- or plan to buy property overseas. Continue reading Top 5 Hong Kong Property Exhibitions 2021

List of Serviced Apartments in Hong Kong: Our Top 13 Picks

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Serviced Apartments in Hong Kong

Are you moving to Hong Kong or just looking for a place closer to your new office?

Whether you are looking for flexibility or you don’t have the time to embark on a week of apartment hunting through the alleys of Hong Kong, a serviced apartment might be the solution to your problem.

In this article, we list 13 serviced apartment companies, and compare them according to their rent span, unit size, minimum duration of stay, location and facilities.

Overview

Benefits of renting a serviced apartment in Hong Kong

If you already did a search online, by now you will probably know that the rental market in the city is pretty “scattered”, and it’s often difficult to find a place unless you walk into an agency located in the neighborhood where you plan to live.

Even in that case, you will probably be tied up by a 6-12 months rent contract.

Conversely, if you opt for a serviced apartment, you can choose to commit for only one or two months.

Besides, you will save the agent fee, which is often 50% of one month’s rental, and the deposit won’t usually exceed one’s month rental.

Also, bills are usually included (electricity, water, internet), so the rent might initially look higher than it is. Continue reading List of Serviced Apartments in Hong Kong: Our Top 13 Picks

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.

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

Buying Real Estate in Hong Kong: A Complete Guide

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

Do you plan to buy property in Hong Kong S.A.R.?
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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:

Continue reading Buying Real Estate in Hong Kong: A Complete Guide

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.

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

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.

Continue reading Top Property Management Companies in Hong Kong: A Complete Guide

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.

Continue reading Hong Kong Property Loans for Foreigners: A Complete Guide

Top Conveyancing Lawyers in Hong Kong: A Complete Guide

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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.

Continue reading Top Conveyancing Lawyers in Hong Kong: A Complete Guide