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Real Estate in Sai Ying Pun, Hong Kong | Expat Exchange
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Real Estate in Sai Ying Pun, Hong Kong

By Joshua Wood, LPC

Last updated on Jan 01, 2024

Summary: Expats and retirees talk about real estate in Sai Ying Pun, Hong Kong? How do you find a home in Sai Ying Pun? Should you buy or rent? What is the cost of housing?

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How do I find a place to live in Sai Ying Pun?

We asked expats how they chose their neighborhood and found a place to live. They answered:

"Finding a place to live in Sai Ying Pun involves several steps. First, you need to determine your budget. This will help you narrow down your options and make your search more efficient. Next, you should research the different types of housing available in Sai Ying Pun. This could include apartments, serviced apartments, or even shared housing. You should also consider the size of the property you need, the number of bedrooms, and any other specific requirements you may have. Once you have a clear idea of what you're looking for, you can start your search. There are several online platforms that list properties for rent in Hong Kong, such as 99.co, Squarefoot, and Spacious. These websites allow you to filter your search based on location, price, size, and other factors. You can also consider hiring a real estate agent to help you in your search. They can provide you with expert advice and access to properties that may not be listed online. Once you've found a property you're interested in, you should arrange a viewing. This will give you a chance to see the property in person and assess its condition. If you're happy with the property, you can then proceed to negotiate the terms of the lease with the landlord or real estate agent. This will include the rent, the length of the lease, and any other conditions. Finally, once you've agreed on the terms, you can sign the lease and move in. Remember to thoroughly read the lease before signing and ask for clarification if there's anything you don't understand. It's also worth noting that Sai Ying Pun is a popular area in Hong Kong, so competition for properties can be high. Therefore, it's important to act quickly when you find a property you like," said one person in Sai Ying Pun.

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What is a typical expat home or apartment like in Sai Ying Pun?

"A typical expat home or apartment in Sai Ying Pun, is usually a high-rise apartment due to the city's dense population and limited space. These apartments are often modern and well-maintained, with a compact yet efficient layout. The living room and dining area are usually combined into one space, with large windows that offer stunning views of the city skyline. The kitchen is typically small but functional, equipped with essential appliances like a stove, refrigerator, and sometimes a dishwasher. Bedrooms in these apartments are often modest in size, with enough space for a bed and a small wardrobe. Some apartments may feature a master bedroom with an en-suite bathroom. Bathrooms are usually modern and clean, often featuring a shower rather than a bathtub due to space constraints. Despite the limited space, many apartments in Sai Ying Pun are designed with a focus on maximizing storage, with built-in cabinets and shelves. Some apartments may also have a small balcony or outdoor space. The buildings themselves often come with a range of amenities such as a communal gym, swimming pool, and 24-hour security. The location of Sai Ying Pun is a major draw for expats, as it is close to the business districts, has easy access to public transportation, and is surrounded by a variety of restaurants, shops, and markets. In terms of decor, many expats choose to blend Western and Eastern styles, incorporating elements of traditional Chinese design into a more modern, minimalist aesthetic. It's also common to see a mix of high-end designer pieces and local, artisanal crafts in these homes. Overall, while living spaces in Sai Ying Pun may be smaller compared to what expats are used to in their home countries, they offer a comfortable and convenient lifestyle in one of Hong Kong's most vibrant neighborhoods," said one expat in Sai Ying Pun.

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What is the average cost of housing in Sai Ying Pun?

If you are thinking about moving to Sai Ying Pun, cost of living in probably a key consideration. Expats commented about the cost of housing:

"The average cost of housing in Sai Ying Pun can vary greatly depending on the size and type of property. For a small, one-bedroom apartment, the cost can be quite high, often reaching into the millions of Hong Kong dollars. Larger, luxury apartments and houses can cost significantly more. It's also important to note that prices can fluctuate based on the property's proximity to amenities like public transportation, schools, and shopping centers. Overall, Sai Ying Pun is considered one of the more expensive areas in Hong Kong to live," said one person in Sai Ying Pun.

Should I buy or rent a home in Sai Ying Pun?

If you have not spent a lot of time in Sai Ying Pun, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:

"The decision to buy or rent a home in Sai Ying Pun, largely depends on your personal circumstances, financial situation, and long-term plans. If you plan to stay in Hong Kong for a long period, buying a home could be a good investment. Owning a property in Sai Ying Pun, a vibrant and rapidly developing area, could potentially yield significant returns in the future. However, the property market in Hong Kong is known for its high prices. Therefore, buying a home in Sai Ying Pun could require a substantial financial commitment. You would need to consider your ability to afford the mortgage payments, maintenance costs, and property taxes. On the other hand, renting a home in Sai Ying Pun offers more flexibility. It could be a more suitable option if you're not sure about your long-term plans or if you prefer not to tie up your money in a property. Renting allows you to live in the area and enjoy its amenities without the financial stress and responsibility of homeownership. Moreover, the rental market in Sai Ying Pun offers a wide range of options, from affordable studios to luxury apartments, which could cater to different budgets and lifestyle needs. In conclusion, both buying and renting a home in Sai Ying Pun have their pros and cons. It's important to carefully consider your financial situation, lifestyle preferences, and long-term plans before making a decision. Consulting with a real estate professional could also provide valuable insights and help you make an informed decision," remarked one foreigner who made the move to Sai Ying Pun.

About the Author

Joshua Wood Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.

Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.

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SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
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