Hong Kong property has a high entry point. But the city’s location, stability, and economic vibrancy make it worth looking at for certain types of investors. The Hong Kong property market is perhaps most famous for being the most expensive in the world where even parking spots have sold for over half a million dollars. But high prices don’t mean the Hong Kong property market is a bad investment. Not at all. Real estate investing in any part of Hong Kong should be considered a long-term business prospect, especially since the market has been recording and is still recording significant growth. Investors across the globe know the benefits of real estate investment as a tool for generating substantial income and creating wealth.
All land in Hong Kong, with one exception, is held by the HKSAR Government. The government grants companies or individuals the right to occupy or develop land in return for the payment of government rent. Leases are often granted for a period of 50 years. Subject to government’s sole discretion, leases due for renewal after July 1997 will be renewed for 50 years. Strata-title ownership is commonly practised in Hong Kong. Owners are required to sign a deed of mutual covenant guaranteeing collective upkeep and maintenance of the building.
Under the Basic Law there are no restrictions on overseas ownership of property but since Oct 2012, a 15% buyer’s stamp duty is imposed if an individual acquiring the property is not a permanent resident of Hong Kong. Moreover, there are other duties too while you buy or sell the property in HK. Please visit the government website to know the updated and detailed rules.
The investment requires resilience and good planning so that you can be in a position to reap maximum benefits. This is the reason why investors are usually advised to seek the services of professional realtors before making an investment decision. Our experienced professionals analyze all the aspects of the property and advocate it along with risks involved. We can help you throughout the overall process from searching a property till it’s yours.