News Hong Kong Property & Finance

Apartment help needed!

ORIGINAL POST
Posted by Lewis_jt87 9 yrs ago
Hi,

I'm moving to HK in mid to late February for work and I'm struggling to find a place for me and my partner.

I've been told to stay in a serviced apartment for the first month whilst I look for a permanent place however after much searching I almost feel like staying in a serviced property long term as all bills etc are included.

I've found an apartment called One Dundas in Kowloon, has anybody heard of / or stayed here?

I will be working on HK Island, in Central and ideally want to be close to work and my monthly budget incl. bills is around $18k - $20k.

Can anybody recommend good areas to stay where i'll be able to find a furnished place within my budget?

Any help is much appreciated.
 
 
 
ED - good idea to stay in a serviced apartment until you get your bearings in HK.   Check our expat hot properties for Hong Kong for curated apartments for rent 

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COMMENTS
OffThePeak 9 yrs ago
Your budget is a bit too low - you will have to make tradeoffs,
especially since you will need to pay maybe 10-20% extra for a furnished place.

One to two months in a serviced apt may make sense, so you can decide which of the following are
an acceptable tradeoff. As you will agree, it is a personal thing - you will have to see what suits you:

You may have to accept:

+ Far away, such as Tung Chung, near the airport
+ Smaller place
+ Older place
+ No view, or no clubhouse

In the end, its best to look around.
Who gave you that budget, BTW?

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Lewis_jt87 9 yrs ago
Thanks for the reply.

My monthly earnings will be $40k gross and for the first few months I'll be sorting the both of us whilst she looks for work hence the tight budget.

From what I understand the apartment is the most expensive piece of the puzzle.

Based on the above I'd be keen to hear your thoughts.

Thanks,

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OffThePeak 9 yrs ago
HK is an expensive place, so you will have problems finding a nice modern 2BR flat with furniture
at under $20,000, unless you are willing to travel.

And most flats here are unfurnished.

If you are willing to take a 2BR of say: 300-400 sf Net, then you should be able to find something.

You are aware that you will be expected to sign a 1 year lease, aren't you?

Some other people viewing this, may be able to give you more specific suggestions.

My gf owns a flat that is 325 sf Net, in the Olympic area. It presently rents for about $10,000. But market rent is a bit higher. It is in a 40 year old building, without a clubhouse. If you pay more, you might get a more modern flat with a clubhouse. Maybe you can try a place called Metroharbour View, in Tai Kok Tsui:
(It is about a 8-10 minute walk from Olympic station)


Latest Valuation for sales: $9,794 psf, Gross = $14,011
(revised figures)
A rough calculation for Rental there might be:
347sf x $14,000 - $4.86 mn valuation, at 3.5% yield = $170k / 12 ... or $14,200 per month
436sf x $14,000 - $6.10 mn valuation, at 3.5% yield = $214k / 12 ... or $17,800 per month

That's unfurnished. And if you are lucky, someone has a furnished place on offer at almost same.

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mcgeever 9 yrs ago
Try looking in an older apartment building (with lift) that is renovated. You should be able to find a decent 2 bedroom for around your budget on the island side.

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hse880 9 yrs ago
if you share the place with your parnter, it suggest to incease the buget upto around HKD25,000-28,000.
this is more easy to look for the place at hong kong side.
pls consider.

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dannycburke 9 yrs ago
Hi Lewis, are you still looking for a place? Send me a message on here if so.

Danny

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mewing 9 yrs ago
Hi there; if still looking, have something HK Island East that might interest. New building, 271sqft open plan front room, separate bedroom; balcony w/ seaview; gym; 3 mins to MTR. In process of furnishing so your input possible.

Mat

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Lewis_jt87 9 yrs ago
@Danny - still looking for a place, do you have any links to the property?

@Mewing - Sounds ideal, are you able to send any links to this property?

Thanks,

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hse880 9 yrs ago
Hi Lewis, if still looking a apartment. pls send me email that i have some suggestion on Soho area.
Chan

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Lewis_jt87 9 yrs ago
@HSE880 - do you have an email address? or able to message me directly?

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Lewis_jt87 9 yrs ago
As a general update to people reading this forum, I'm close to settling on the Lauli 15 serviced apartments, and am also considering looking for an apartment in Happy Valley; Any reasonable places worth considering? Or further advice?

Thanks,

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mewing 9 yrs ago
If you wish, can show you apartment tomorrow (Tuesday) from 6 pm .... great marketing strategy on my part as you will get to appreciate night view :-) Call me 6359-2575 if interested. 19K unfurnished, 21k furnished. Small, but amazing location.

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Lewis_jt87 9 yrs ago
@Mewing - Are you able to message me directly? I'm still in the UK, due in HK on 3rd March, so will have to look at web links for now if you're able to provide these?

Thanks,

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Rainbowtai 9 yrs ago
Hi

U interested in an apartment in Kennedy town? pM me if interested, 20k. 411 nets n is a 2 bedroom flat. Just a min walk to the MTR.

63313091

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chod78 9 yrs ago
A little bit off topic but are you aware of the first year taxes for Hong Kong are pretty much double. So this may affect your budget for the first year if you do not already have savings.

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