Hong Kong is a prominent financial hub in Asia and home to one of the world’s largest stock exchanges. The city has a high living standard and is considered to be one of the safest places in the world.
Renting an apartment or house in Hong Kong can be expensive. hong kong rent is around HK$50,000 (US$6,200) per month for a 3-bedroom flat in Central, where the average salary is around HK$20,000 (US$2,500).
Why is renting a more appropriate option?
One should consider renting rather than buying property in Hong Kong. The reason why rental prices are much lower compared to purchasing property in Hong Kong is the high demand from local investors. In addition, there are several benefits associated with renting over owning property.
- When you purchase property in Hong Kong, you are required to pay a stamp duty of HK$1 million (US$128,000).
- Apartments in Hong Kong start at around US$2,700 per month – which means you’ll spend at least $300,000 before even moving into the apartment itself. It is where the benefit of renting comes in.
- Renting allows you to move into an apartment without spending so much cash upfront.
- Also, there are lower maintenance costs, no stamp duty, and flexibility.
Benefits of using a property agency
property agency hong kong is a real estate company operating in Hong Kong. The company was founded in 1994 and has over 40 years of experience in the real estate sector. The company provides services such as residential sales, leasing, marketing, property management, etc.
Real estate investors often look at Hong Kong because of its safety and stability. Plus, the city has a highly developed infrastructure, such as roads, mass transit, airports, hospitals, schools, and even a stock exchange.
The main benefits of using a property agency include:
- Lower commission rates
- Access to a wide range of properties
- More transparency in the sale process
A property agency is a lucrative career choice because they earn high salaries. In addition, they also get bonuses depending on their performance. If you are looking for a property agent in Hong Kong, you should consider hiring a real estate agent who has experience in the local market. The city is known for its high prices and lavish lifestyle. It makes it very competitive.