Moving to HK...Housing Questions ...

Hi,


We may be moving to HK and have questions about apartments:

- What are the best places to live if you are working in the financial industry, and central Hong Kong (i.e. exchange square). We have no kids.

- What would be the avg renting price for a 2 or 3 bedroom apartment in this area ? (new apt)

- Do we need to pay a rent deposit ? If so, how much ?

- Is there any restoration fees (i.e. when you leave the apartment, fees to bring back the apartment to original condition).

- Are electricity, hot water and gas usually included in the monthly rent ? If not included, can you give an idea how much this represents for a 2 bedroom apartment, 1000 square feet ?

- We saw several adds on monthly rent "inclusive" and "exclusive". Does it refer to appliances such as fridge and washer/dryer or above (electricity, gas, hot water ...).

- Can we paint the walls, hang out frames on walls, etc ?


Thank you,

Lynn and Dave


I know there are lots of questions already, but anything you can add will be appreciated (i.e. most apartments have washer/dryer or usually only in the building ... what to look for and be carefull of ... best to have housing allowance or rent paid back by employer ... thx !)

Hi Lynn and Dave,


The best place to live - this depends on what you want in terms of quality of life. Do you want to be right in the heart of Hong Kong nightlife, within easy walking distance of the Central area? Or would you prefer to live somewhere quieter and cleaner and accept the slight inconvenience of having to travel a bit further to work? If the former you need to be looking at Central/Soho/Mid-Levels. If the latter you could be looking in Happy Valley, in Kowloon, on Discovery Bay, even up in the New Territories.


The average rental price for around 1,000 sq ft and 2 or 3 bedrooms in the Central/Mid-Levels areas is in the region of $30,000 per month upwards.


Yes, you will need to pay a deposit. When you find a flat you like you will sign either a Provisional Tenancy Agreement or an Offer Letter, and at this stage you will need to pay a deposit equal to a month's rent. This is refundable if the landlord should back out of the deal. When the Tenancy Agreement is agreed and signed by both sides, you will have to pay a further deposit equal to two months' rental. The first one-month deposit will become your first month's rent. The two-month deposit will be held by your landlord until the end of your tenancy agreement.


Normally a Tenancy Agreement will stipulate that the tenant must leave the apartment in good condition, fair wear and tear excepted. Provided you have not breached any conditions of the tenancy, and provided that you are leaving everything in reasonable condition, you should not have to pay any restoration fees.


Electricity, gas and water are never included in the rental. Sorry but I don't have any figures to give you on how much these might cost, if no-one else answers this question I'll get back to you later.


"Inclusive" and "exclusive" refer to management fees and Government rates and rent. The management fee is for the management of the building. The amount payable for management, rates and rent varies enormously from one building to another. If a rental is quoted as being exclusive, it still might be possible to negotiate with the landlord and get it inclusive.


It's now normal practice in Hong Kong for flats to be leased with at least a washing machine and refrigerator. Some of them also come with a microwave and even a dishwasher, although the latter is very uncommon except for a very high rental.


It's also normal practice for the landlord to redecorate the flat prior to a new tenant moving in, unless it has recently been decorated. Whether or not you can paint the walls is something that would have to be agreed with the landlord. If the flat hasn't already been decorated, the landlord might agree to paint it in a colour of your choosing.


In most places there's no problem with hanging pictures on the walls. Some tenancy agreements stipulate that the landlord's consent must be obtained first, but this is usually just a formality.


If you can get your company to sign a company lease, this is usually preferred by landlords as they feel more secure. Housing allowance vs rent paid back by employer - I'm going to have to check this out, sorry, don't know the answer off the top of my head.


The normal practice here is for a 2-year tenancy agreement with a break clause after 12 months, with 2 months' notice being given. This means a minimum term of 14 months.


Government Stamp Duty is payable upon signing the Tenancy Agreement - 0.5% of the annual rental, plus $5. This is split 50/50 between the landlord and the tenant. In addition property agents will charge you half a month's rent as commission.


Apart from location, when you're flat-hunting take a good look at the condition of the building as well as the individual flat. If it looks as if the building maintenance is very poor you will probably want to avoid it.


Hope this helps!

Linda

Hello Linda,


Very helpful details and thanks for taking the time to write such a complete email.

Hi Lynn and Dave,


You're very welcome and I've also sent you a personal message.


Best of luck!

Linda

Wow! $500/ month!! Guess we rarely use the air-con, as we both come from tropical climes & much rather open windows, doors & use fans. Our most expensive bill was $380 recently, having used the heaters on cold nights.....yes, we really feel the cold! Gas is reasonably cheap, with a bottle costing us $180 lasting 4 months. Our water bill for 4 months in a first floor village flat is only $150....and we drink the water. Still alive with no obvious twitching!!


We live out Sai Kung way, which has a good mix of local/ ex-pats in a mix of village, condo development country. You can hear the birds in the morning. Sai Kung has western bars, restaurants mixed in with the local & a lot more countryside without the sterile condo environment of Discovery Bay & you can find some good accomadation deals, if you don't mind a little extra travel

Hi Lynn and Dave, I have an apartment within 15 minutes walking distance to your working area (exchange square)

its 1000 sq feet with 3 bedrooms in a quiet location with sea view.

if you interested please contact me

Hi,


Sounds interesting. Can you send pictures of the apartment and more details at email address: nouart@yahoo.fr ?