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Preparing to Buy a Property in Hong Kong


Buying Property & Planning Your Purchase


Prior to making the decision to buying property, several things are to consider; fees, mortgage loan and property price and the property itself.

  • Calculate the total expense of the purchase, e.g. as solicitors' fees, mortgage charges, insurance
  • Fees and stamp duties
  • Check with banks to find out if you will be able to obtain the needed mortgage loan, select the appropriate payment method and calculate the amount of the mortgage loan to ensure it is within your repayment ability
  • Check recent transaction prices of comparable properties for comparison
  • Property area and its surroundings visit the property site and get to know the surroundings of the property (including transportation and community facilities), and check town planning proposals and decisions which may affect the property
  • When calculating the per-square-foot price, you should fully understand whether the calculation is based on the "saleable area" or the "gross floor area" of the flat. If in doubt, consult a surveyor or lawyer, and enquire with the developer
  • The "saleable area" of the flat - the area of the flat (inclusive of the area of any balcony and utility platform). Other areas, such as flat-roof, roof, garden, cockloft, yard, terrace, bay window, air-conditioning plant room, etc., will be listed item by item, but will not be included as part of the "saleable area".
  • Other information you will also need to consider:
  • interior and exterior fittings and finishes
  • management fees (e.g. whether items such as Internet fees and club house fees are included)
  • whether animals are allowed
  • whether owners need to share the expenses for managing, operating and maintaining the public open space or public facilities inside or outside the development, and the location of the public open space or public facilities

Prior to making the decision to buying property, several things are to consider; fees, mortgage loan and property price and the property itself.

  • Calculate the total expense of the purchase, e.g. as solicitors' fees, mortgage charges, insurance
  • Fees and stamp duties
  • Check with banks to find out if you will be able to obtain the needed mortgage loan, select the appropriate payment method and calculate the amount of the mortgage loan to ensure it is within your repayment ability
  • Check recent transaction prices of comparable properties for comparison
  • Property area and its surroundings visit the property site and get to know the surroundings of the property (including transportation and community facilities), and check town planning proposals and decisions which may affect the property
  • When calculating the per-square-foot price, you should fully understand whether the calculation is based on the "saleable area" or the "gross floor area" of the flat. If in doubt, consult a surveyor or lawyer, and enquire with the developer
  • The "saleable area" of the flat - the area of the flat (inclusive of the area of any balcony and utility platform). Other areas, such as flat-roof, roof, garden, cockloft, yard, terrace, bay window, air-conditioning plant room, etc., will be listed item by item, but will not be included as part of the "saleable area".
  • Other information you will also need to consider:
    • interior and exterior fittings and finishes
    • management fees (e.g. whether items such as Internet fees and club house fees are included)
    • whether animals are allowed
    • whether owners need to share the expenses for managing, operating and maintaining the public open space or public facilities inside or outside the development, and the location of the public open space or public facilities