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Sai Kung Luxury Director Home Sold for HK$88 Million
For many homebuyers, choosing a property is never easy. Factors such as location, school network, layout, size, and surrounding facilities all come into play. Whether it's a new development or an older building, one decision remains: should you choose a large housing estate or a standalone building?...
Squarefoot Editor   #Wed Property Focus  2024-07-16     6.8K     96  
When a homeowner applies for a mortgage from a bank, the deed is kept as collateral by the bank to protect its interests during the loan period. Once the mortgage is fully paid off, the homeowner can apply for a discharge of mortgage, and with the help of a lawyer, they can fully own the property.&n...
Squarefoot Editor   #Wed Property Focus  2024-07-09     8.5K     203  
When buying a second-hand property, once the buyer and seller agree on the price and decide to proceed, they sign a Provisional Sale and Purchase Agreement. This agreement establishes the intent of both parties to proceed with the transaction. However, many overlook an important detail at this stage...
Squarefoot Editor   #Wed Property Focus  2024-07-02     8K     168  
Waiting for public housing can feel endless. As of the end of March 2024, the average waiting time for public housing is 5.7 years. To address this prolonged wait, the government has introduced ‘Light Public Housing’, with the first batch of applications opening on June 24.The fir...
Squarefoot Editor   #Wed Property Focus  2024-06-25     7.9K     133  
With the advancement of technology, our lives have become significantly more convenient. We've all experienced forgetting or losing our keys at some point, which is where electronic locks come in. Widely used in homes and offices, what are the advantages and disadvantages of electronic locks?Electr...
Squarefoot Editor   #Wed Property Focus  2024-06-18     10.1K     78  
According to current Housing Authority regulations, second-hand Home Ownership Scheme (HOS) flats can only be sold on the open market after paying the land premium if they have been owned for at least 15 years. However, if selling on the Secondary Market, the flats can be resold to Green Form or Whi...
Squarefoot Editor   #Wed Property Focus  2024-06-12     12.5K     251  
After repeated failures to sell land last year, even the compulsory auction of old buildings – a strategy long pursued by developers – has recently resulted in an auction with no bids (“no-sale”). With the scarce supply of new land in the core business districts of Hong Kong ...
Squarefoot Editor   #Wed Property Focus  2024-06-04     8.4K     89  
Recently, a unit at Malibu Lohas Park was rented out on Airbnb without a license, leading to legal issues for the owner. The owner faced charges under the Hotel and Guesthouse Accommodation Ordinance for operating an unlicensed establishment.This incident has prompted the Home Affairs Departm...
Squarefoot Editor   #Wed Property Focus  2024-05-28     5.7K     65  
CK Asset’s new project, #Lyos, recently saw 15 buyers forfeit their deposits. In response, the developer announced heavy discounts on the remaining units, with price cuts of up to 32%. Additionally, CK Asset noted that if the resale price of any cancelled units is lower than the initial cancel...
Squarefoot Editor   #Wed Property Focus  2024-05-22     12.9K     188  
As May arrives, many employees are receiving their "green envelopes" (tax forms sent by the Inland Revenue Department (IRD)) and must file their completed tax returns by June 3rd. If opting for online submission, the deadline is extended by an additional month.Amid Hong Kong's considerable fi...
Squarefoot Editor   #Wed Property Focus  2024-05-14     13.5K     262  
In recent years, many new properties have been sold off-plan, meaning that without an existing building to visit, prospective buyers have to rely solely on the sales brochure and show flats to gather information. Purchasing a property is not as simple as buying groceries; there are several important...
Squarefoot Editor   #Wed Property Focus  2024-05-07     5.9K     36  
To implement the 2022 Policy Address's Private Subsidised Sale Flat Pilot Scheme, the government recently opened a public tender for a plot in Cheung Man Road, Chai Wan, inviting developers to bid for construction of subsidised housing units. The deadline for bids is July 19.The plot in quest...
Squarefoot Editor   #Wed Property Focus  2024-04-30     4.2K     27     2
Recently, Hong Kong has witnessed several fire incidents, including a number three fire at the 60-year-old New Lucky House in Jordan, densely populated with subdivided flats. This tragic event resulted in five deaths and numerous injuries, leaving many residents homeless. Fires can occur unexpectedl...
Squarefoot Editor   #Wed Property Focus  2024-04-23     5.2K     78     16
The recent billion-dollar rehabilitation project at Neptune Terrace in Chai Wan has sparked heated discussions in the city. Homeowners were unhappy about the building management committee’s failure to disclose the engineering contract and excessive costs, with each household required to pay HK...
Squarefoot Editor   #Wed Property Focus  2024-04-16     12K     205     47
In a thriving property market, many owners are taking the opportunity to list their properties for sale. Whether choosing to sell or rent out the flat on their own or through a licensed real estate agent, what should owners pay attention to if they decide to entrust an agent?Whether selling o...
Squarefoot Editor   #Wed Property Focus  2024-04-10     6.3K     54     11
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