Hong Kong is one of the world’s most expensive housing markets, and the rental prices for apartments can be equally overwhelming. Below are three of the city’s most affordable and underrated types of homes – the tong lau (tenement building), Western-style tenement building, and village house – as well as key things to consider, before you sign a rental lease in Hong Kong.
The first house to think about is the tenement building (‘tong lau’). With a rich history, the tenement building is a three- to six-floored low-rise building. It provides greater saleable floor area and are usually more affordable due to old age. However, there’s no elevator, which makes for physical inconvenience and additional delivery or maintenance fees.
Also to consider is the Western-style tenement building, a taller building with 10 to 20 floors, which retains the same pros and cons as the tenement building (‘tong lau’). The difference is that the Western-style tenement building comes with an elevator installed.
Finally, we have the residential village house; a three-storied detached or semi-detached home with 700 square feet per floor. You’ll find many village houses in Hong Kong’s more remote areas, such as Sai Kung or Yuen Long. This means more privacy, nature, outdoor space, and lower rent fees. However, you might be too far removed for convenience, since village houses do not offer amenities.
Here are the key things to consider: budget, location, convenience, living environment (noise levels), security levels, maintenance issues (water leakage, poor ventilation). Check your contracts carefully before signing, do a land search online, and make sure the environment of your new home fits your lifestyle. When the time comes to find a place to rent, you can browse online listings on local websites or hire a licensed real estate agent.
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Property Type | Price | Ads Period |
---|---|---|
For Sale Property | ||
Normal Listing Typical One | HKD:1000 (or Hsemoney:1000) | Valid:90 days |
Golden Top Listing Higher position than Top listing 2-3times better performance | HKD:3000 (or Hsemoney:3000) | Valid:60 days |
Rental Property | ||
Normal Listing Typical One | HKD:1000 (or Hsemoney:1000) | Valid:80 days |
Golden Top Listing Higher position than Top listing 2-3times better performance | HKD:3000 (or Hsemoney:3000) | Valid:60 days |