Posted by
vick
17 yrs ago
Hi,
I have been living in hong kong for quit a while now. Due to personal needs I want to buy my own place. When ever I check property agents website and select a flat it turns about to be costlier than what they have mentioned in there website. This is the first time I am getting into buying property. I want to buy property within a range of say 600000-1 M. Can any wise person advice me where can i probably get a place withing this range. I would not mind living in outskirts of hong kong. I figured Yuen Long is cheaper so is tin sui wai but is there other areas of hong kong I can select from. I would be very thankful if anyone could introduce me any prop agent. Since the price is low I understand the size will be small as well.
Thank You.
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F100
17 yrs ago
dear vick,
one of the reasons why the cost of the apartment is more than what is advertised is because the property agents want "to show you the flat." That entitles them to get their commission if you purchase the property within a 3 month period from the time they have shown you the flat.
they advertise a Lower amount than the amount the seller is actually willing to sell it to you for.
depending on supply and demand, expect to either pay more than what is advertised if the property market is "hot".
Ask your agent to show you a list of all of transactions in that building for the last 5 years to get an idea of market for the unit you are looking for.
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sxc
17 yrs ago
Yes it is a weird market here....overseas, if you can't sell a property, you reduce the price. Here, if the property is unsold, you put the price up if you think the market is rising.
In HK there are plenty of people who have plenty of money who can sit on their investment if it doesn't sell at the price they want.
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walkup - I dont think vick means 6m - i think he/she means 600,000 to 1m. Quite a difference.
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