Posted by
HK4MD
15 yrs ago
We have just arrived and are looking to rent our first place in HK.
Different counties operate slightly differently when it comes down to negotiation......how much variance can we expect to see from the advertised rental rate.......5%, 10%, 20%?
I have a feeling that the agent hasn't even spoken to the landlord yet but has miraculously come up with another interested party at the same time as us, on a property that has been empty for around 6mths.
Any advice gratefully received
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yes sounds like standard agent practice. my advice, stay tough and go in low (15% lower than advertised for a regular flat). you can probably get 5-10% lower than advertised (e.g. for a 15k flat, it's usually advertised as 16k).
a flat being empty for long is not necessarily a good sign. some landlords here prefer to keep it empty rather than renting out at a lower price (it's complicated but there's a rationale for such behavior).
so you might be encountering such a landlord
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If you don't get it, try another agent and another area.
Rentals are still firm (I believe), especially in the "below $40k monthly" part of the market.
Many expats who come here are incredibly narrowly-focus on where they live. I was on the peak (Barker Road) for the first few years I lived here. But I am now "Off the Peak", and I prefer it. As they used to say at Harvard, "You cannot eat prestige."
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