Posted by
carmine
17 yrs ago
I am very interested in a place that is listed at 681', however upon trying to get a loan, the bank told me that the actual footage is just 531', which is only 78% of the actual size. Is this normal in HK? Please help as I like the flat a lot!
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Pretty normal. The quoted sq/ft of most apartments also includes, but is not limited to, communal areas. This can include corridors, lifts, swimming pool, gardens, etc. There is no law which actually defines this so various developers quote sq/ft by using their won methods.
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Grosv
17 yrs ago
All square footage in HK is advertised in 'Gross' values. If you want to know what you are really getting then ask for the U.F.A. (usable floor area) or 'Net' square footage. This can vary between 60-90% of the gross depending ont he building, flat size etc etc.
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Carmine, welcome to the HK Property Market. A useful thing to do to check the square footage is to go to either HSBC or Hang Seng Bank's website and go into their mortgage section. They have just about every building in HK and will tell you the actual net area, as well as gross, the age of the building, and what their valuation is.
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