Rent

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  1. #1

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    Rent

    Many here have said that rental prices on hongkonghomes.com and gohome.com.hk are not real. Are those prices higher than actual or lower than actual? And if I go to an agent, how much negotiation room is there? For instance, if it says $15000, how much can I expect to go down to? $10000? $12000?

    Thanks!


  2. #2
    Mat
    Mat is offline

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    from 15000 to 12000 seems possible ....10000 is less likely..but always try and see what is their reaction....


  3. #3

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    If it says 15k it's normally 18k or up...because what they advertise doesn't include management fees etc. When you actually go viewing the price will range from 18k-20k depend on the apartment condition. If it's 20k you might be able to bring it down to 18k max.


  4. #4

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    Thanks for the tip in negotations. So how realistic are those prices posted on hongkonghomes.com or gohome.com.hk? I understand some are inclusive and some are exclusive but regardless of that, are the prices posted on there relatively accurate? I also know that the exact flat might not be available but I'm just trying to get a sense of how much rent is.

    Thanks so much for your help!


  5. #5

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    i don't think u can draw a quick conclusion like that

    1. reason why gohome's price is out is not because of the mgt fees, but more because the website has an auto update. so advertisement entered like 6mths ago can get renewed as new if the agent failed to 'unregister' it when the unit has changed or had been rented off. so on good market the price is low, on bad market the rent showed is higher.

    2. while i think negotiation and bargaining for a lower rent is good, but i don't recomment one to over do it. bargain for maybe slightly below the market rate of that region. u push for too low a price, and assuming the landlord is willing to rent u cos he is desperate, you are bound to face alot more problems going forward. renting a place is a long term r/ship. u have like 1 to 2 years you need to face and get landlord's help to sort out stuffs. so drive a decent bargain but don't overdo it. it might just cause unnecessary uncooperative trouble down the line.


  6. #6

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    Applefan,
    Rent here is generally the highest globally running a contest bewteen Tokyo, Paris, London, NY.

    That said, if you're willing to commute from the Central/expat high income areas, you will absolutely be able to find a nice apartment in the 10,000 per month range.


  7. #7

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    Thanks Freeier and Goodkarma. I wasn't trying to be unreasonable with the landlords; I was just trying to get a sense of how "inflated" the listed rent could be. In New York, they would almost laugh at you if you negotiate one penny. In North Carolina where I've been living in the last few years, it's almost typical to ask for a free month's rent. So I was just trying to gauge how much negotiation room there is. I can't wait till I'm actually looking at flats myself! How long did it take you to find your place and are flats usually available for move-in immediately? Or is there typically a wait for the previous tenant to move out?


  8. #8

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    hi applefan,

    there are enough supply and demand in this market to make it efficient.
    just go visit a few more units, through different agents, and probably you can have a good gauge of how much rent to pay.
    you can bargain, maybe like 10~20% below what is normally quoted in the region... but it also depends on the s/d circumstances...

    8-P

    enjoy your house hunting. it wld be fun!