Hong Kong preview

China

Hong Kong is one of the most expensive cities in the world in which to live and the prices of buying or renting in this city will shock most expats. The majority of the landscape here is hilly and mountainous, which simply means land is at a premium. The vast majority of residential buildings consist of high-rise apartment blocks that are tightly packed together in small spaces. A large percentage of expats opt for management-run apartments that offer club house facilities such as security services, swimming pools, gymnasiums and children’s playgrounds. However, the square footage of most of these apartments is very small and it is not unusual to find families of four living in accommodation that has less than 1200 square feet.

On the whole, the more expensive properties are to be found on Hong Kong Island and the general rule is that the higher the floor in a given block, the more expensive the rent/purchase price. Other aspects such as open views, outdoor space and building facilities also come at a premium. Many of the older-style Hong Kong building blocks are low-rise and more spacious, but quite often these are dated and do not offer the same level of services as the newer developments. Depending on where on the Island the property is located, it is also highly probable that the newer high-rise blocks overlook such low-rise buildings.

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