1. Is it as expensive as they say it is?
The straight answer to this question is – yes. Hong Kong has one of the toughest and most expensive real estate markets in the world. Houses in HK are notoriously high-priced. However, there are a few remedies that house owner hopefuls can try to make thingsbetter in this aspect.
Many of your concerns as someone looking to buy a house but is also concernedabout having to spend a large amount of money for it can be solved by talking to a qualified and practiced property agent Hong Kong who will be able to direct you towards those properties that are a good bargain while being a good fit in with what you are looking for. Also, the price would not be a big concern if you are buying a house that is also going to be a long term investment that is going to yield a favourable return to you when you decide to sell it at some future date.
2. Is buying a house the best option?
If you feel like the money you spend buying a perfect house or a flat is not going to be worth it, you might have to resort to leasing one until you are in a better position to purchase. Also, it could be that you cannot afford to buy a house right now even though you want to. You will be able to find great properties such as houses and apartments for rent on any good real estate website. Leasing a house or flat might be a better option as opposed to buying one outright if you are not in a sound place financially and if you feel like you are not ready to be the owner of a house right now.
3. If I buy a house, will it be difficult to sell it?
Buying a house or flat when the time is right can really pay off in the future when you sell it, provided that you time the sale right, when the market is stable and prices are looking up. However, whether or not a house is sellable will depend on several circumstances, some within and some outside your control. The ones that fall within your control include the condition of the house when you sell it, the location of the house and how popular it is at the time of the sale, the market for the type of house you own – villa, studio flat, two storey house, etc. So make sure that you pay attention to these factors when you make the purchase itself and thereby being forward-thinking to the day that you will have to part with your asset.