| Frequently Asked Questions |
| ||
The following are some of the most frequently asked questions about purchasing real estate in Singapore.
| |||
| How do you find a property to buy in Hong Kong? | |||
| What type of ownership options are available in Hong Kong? | |||
Generally, foreigners can buy properties in Hong Kong and rent out without restriction. However, Hong Kong is not open to Afghans, Albanians, Cubans, North Koreans and Chinese from the mainland (unless they are permanent residents in another country).
| |||
| Back to Top | |||
| The best way to find property in Hong Kong is to use an estate agent specializing in the type of property that you are interested in purchasing. Healy Consultants will assist you in finding an agent that will fit your needs. | |||
| Back to Top | |||
| What types of ownership options are available in Hong Kong? | |||
| In Hong Kong, you have the option to buy property as an individual (including jointly with your spouse) or through a corporation. For large real estate developments, it's best to own property through a Hong Kong corporation. | |||
| Back to Top | |||
| The official commission rate is 1% of the final purchase price. Realistically, you shouldn't have a problem getting a slight discount. If you are interested in getting a discount, discuss this is when you first meet with your agent. Do not try to drive bargain the commission too low or the agent has no incentive to assist you. | |||
| Back to Top | |||
| No. It is fairly easy to get a mortgage in Hong Kong if you have an income. Local financing is widely available for foreign residents. Healy Consultants has contacts with several financial institutions willing to supply mortgages to foreign investors. | |||
| Back to Top | |||
| What is a fair price for an apartment in Hong Kong? | |||
| There are two fairly simple ways to check on the current real estate prices in Hong Kong. First, you may look up transaction records of recent sales to see the range of prices people have been paying. Second you could check with the banks to find out what their valuation is for the property. HSBC has a property valuation page which is fairly comprehensive regarding the properties in Hong Kong. | |||
| Back to Top | |||
| What other consideration should be considered before buying a property in Hong Kong? | |||
Contact us | |||
For further information, email us at email@healyconsultants.com or contact us at our Singapore office at (+65) 67350120.
|