What do I need to know when buying property in Hong Kong?

When we asked expats what advice they would give a foreigner before buying a property in Hong Kong, they said...

"1. It is important to research the area you are looking to buy in, as prices can vary significantly between different districts. 2. It is also important to be aware of the different types of property available, such as private housing, public housing, and commercial property. 3. You should also be aware of the different types of ownership available, such as freehold, leasehold, and sub-leasehold. 4. It is important to understand the legal process of buying property in Hong Kong, including the need to obtain a mortgage and the various taxes and fees associated with the purchase. 5. It is also important to be aware of the different types of financing available, such as bank loans, mortgages, and other forms of financing. 6. It is important to be aware of the different types of insurance available, such as fire insurance, public liability insurance, and other forms of insurance. 7. It is also important to be aware of the different types of maintenance and repair services available, such as plumbing, electrical, and other services. 8. Finally, it is important to be aware of the different types of property management services available, such as rental management, property management, and other services," said another in Hong Kong.

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