How much cash up front?



ORIGINAL POST
Posted by westie08 17 yrs ago
I am moving to Hong Kong in a few weeks and am trying to sort my finances. How much cash will I need up front to rent a property. For example, if I rent a flat at 15,000 per month would I need to pay one month in advance and one month as a security deposit? Are there additional fees that I don't know about?


Also, I was wondering how easy it is to find furnished flats in Hong Kong, and whether partly furnished is an option.


Thanks

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COMMENTS
ldavy 17 yrs ago
You will also have to pay Stamp Duty, which is half of the annual rent x 0.5% + $5, so if your rent is $15,000 the Stamp Duty will be $452.50, so not much. And, assuming the utilities will be put into your name which they normally are, you will have to pay deposits for them; they won't be too much either.


Fully furnished flats aren't all that common here although there are some. Most flats come with a fridge and washing machine. A lot of them don't have an oven, they have just a two-ring or, if you're lucky, four-ring gas burner. I would advise viewing anything that's available whether it's furnished, partially furnished or unfurnished.

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