Living In Hong Kong Property

Property news: what’s on the market

LETIZIA GARCIA CASALINO, Head of Residential Services Colliers International Hong Kong, gives us the lowdown on the Hong Kong property market and shares details of five fantastic homes for sale and lease.

Market Update

“What a Year of the Rat we have entered! The residential market is the most resilient of Hong Kong’s property sectors, and it has started to show some great opportunities with the relaxing measures put in place last October – those measures allow first-time home buyers to borrow up to 90 percent of a property valued at a maximum of HK$8 million (previously $4 million). A new building that can combine both location and price has been and will be very appealing in many ways. Although the streets in Hong Kong have been quiet, buyers are still interested in entering the first-hand market. The secondary market is a different story. There have been weeks where transaction records are at their lowest in years. With this thought, it’s also where the opportunities lie for anyone looking at buying a property in the second-hand market. Great gems can be found!

On the other hand, the leasing market is still active, though of course not as active as in previous years. Local moves have been the most active over the past months, and mass market rents have slightly dropped. However, it’s the luxury market where we see most of the correction. With less demand for domestic moves and fewer newcomers, it’s most certainly where great properties can be snatched. If anyone is looking into moving to a different property within the luxury market or at the top of the mass market, now is definitely the time.”

Properties for sale and rent

Outstanding Home

Area: Mid-Levels Central
Sale: $43.8M
Rent: 62K incl./mth
Size: 1,071 sq. ft
Bedrooms: 3 (1 ensuite)
Bathrooms: 2
Reference ID: 180724

This well-designed apartment is a bright, high-floor unit with amazing city views and modern decoration and fittings. It’s a newly renovated flat with a fully equipped kitchen and stylish bathrooms, along with excellent clubhouse facilities and a supermarket across the road. Central is a five-minute drive away.

Racecourse Views

Area: Happy Valley
Rent: $107,000 incl.
Size: 1,461 sq. ft
Bedrooms: 4
Bathrooms: 2
Reference ID: 180778

Leighton Hill is located in the residential area of Happy Valley. With green surroundings, sport grounds, parks and local stores around it, this is an appealing compound for everyone. It’s a few minutes’ walk to Times Square, too, with easy access to buses, mini buses and trams.

Tranquil Terrace

Area: Jardine’s Lookout
Rent: $200,000 incl.
Size: 1,716 sq. ft
Bedrooms: 4
Bathrooms: 2.5
Reference ID: 181038

A charming terrace house in a small private development, this multistorey property has a ground-floor garage for three cars. The new Western-sized kitchen features a connected utility area, and helpers’ quarters with separate rooms for a maid and driver. There are multiple living and dining areas with a large terrace finished with sandstone paving and a wraparound patio. Bedrooms are located on higher floors with green views and the top storey has been converted into an optional home cinema.

Central & Elegant

Area: Mid-Levels West
Rent: $85,000 incl.
Size: 2,160 sq. ft
Bedrooms: 3
Bathrooms: 2
Reference ID: 180815

Conveniently located opposite the Mid-Levels Escalator, this charming apartment has wellproportioned rooms throughout and a large galley-style kitchen with oven and maid’s room. The master ensuite bedroom has a walk-in closet, and can accommodate a kingsize bed, while two further double bedrooms have built-in wardrobes provided. One car park space is included.

Spacious Apartment

Area: Happy Valley
Rent: $130,000 incl.
Size: 2,006 sq. ft
Bedrooms: 4
Bathrooms: 3
Reference ID: 180282

Located in the center of Happy Valley, this development is within easy walking distance to Causeway Bay and shops. The family-friendly development has onsite facilities including a gym and outdoor swimming pool. The high-rise apartment has a good-sized kitchen with high-end appliances, along with a big balcony.

For more detail on these Hong Kong properties or to see more options, go to colliersresidential.hk.

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This article first appeared in the Spring 2020 issue of Expat Living magazine. Subscribe now so you never miss an issue.