News Hong Kong Property & Finance

HK resident allowed to buy flat?

ORIGINAL POST
Posted by quovadis 18 yrs ago
i'm a HK resident (not permanent) and i'd like to know if I'm allowed to buy a flat in HK? i think i'd save more if i buy one, rather than just rent. are there banks offering installment terms? what are the requirements? thanks!

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COMMENTS
Sarsky 17 yrs ago
I managed to get a 90% mortgage (because it is a brand new property) with standard chartered. my understanding is that the property has to be considered new (less than 3 years) to get a 90%. Otherwise you'll need to find the 30% deposit.

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tinlok 17 yrs ago
hi sarsky, that sounds cool. may i know how many years to pay?

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rao 17 yrs ago
hi

i heard we can get a SECOND mortgage ( hv to take some kind of insurance to get qualified). i dont think we need to be Permenant for this. the second mortgage can get 25% more so 95% can get out of mortgage loan. First we hv to pay 10% and seller will repay 5% after bank gives him 95%.



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