Like Tree46Likes

Where to live for HK$20,000-25,000

Reply
Page 12 of 14 FirstFirst ... 4 9 10 11 12 13 14 LastLast
  1. #111

    Join Date
    Oct 2010
    Posts
    19,629

    Most rental contracts are inclusive of management fees and rates, that seems to be fairly standard practise from what I have seen. Jimbo's estimate is about what I would expect.

    Fragrantharbour likes this.

  2. #112

    Join Date
    Sep 2010
    Location
    Tung Chung, Kowloon, Hong Kong
    Posts
    744
    Quote Originally Posted by Fragrantharbour
    One further question for those who have helpfully responded to my original question -- for an apartment that costs HK$25,000 to rent (exclusive), what are the total government rent/government rate and management fees likely to be?

    My understanding is that government rent & rates and management fees are all costs that can be borne by either landlord or tenant depending on the agreement between them, and there is no 'standard' practice in HK (and that rents are quoted 'exclusive' or 'inclusive' .

    I've seen on the HK.gov website that government rates and rent are 5% and 3% of the annual rental value - so I'm guessing around HK$2,000 a month (8% * HK$25,000). But I have no idea what the management charges tend to be for the sorts of buildings mentioned on this thread (I'm sure they vary depending on the facilities but some idea of the range would be useful).

    Thanks v much
    Not annual rental value but "Rateable Value". 5% and 3% are correct. The inclusive is the norm. The only reason for an exclusive is that they do not know how much the rates and gov rent would be (such as a brand new apartment).

    Management fees are wild bastards. I pay $1.76 gross psf. My friend at the Arch pays over $3.5 so he says; that being due to the restaurant in the clubhouse that nobody uses.

    Exclusives are pretty dangerous things. There is plenty of choice and the "inclusive" deal would be much safer. Look around, lots and lots of stock now.

  3. #113

    Join Date
    Nov 2011
    Location
    Happy Valley
    Posts
    57
    Quote Originally Posted by DavidTC
    Not annual rental value but "Rateable Value". 5% and 3% are correct. The inclusive is the norm. The only reason for an exclusive is that they do not know how much the rates and gov rent would be (such as a brand new apartment).

    Management fees are wild bastards. I pay $1.76 gross psf. My friend at the Arch pays over $3.5 so he says; that being due to the restaurant in the clubhouse that nobody uses.

    Exclusives are pretty dangerous things. There is plenty of choice and the "inclusive" deal would be much safer. Look around, lots and lots of stock now.
    Thanks David. So are "inclusives" usually inclusive of management fees as well as govt rent/rates? (I only ask because you mention what you and your friend pay - presumably you pay these because you own your properties rather rent them?). And I presume those management fee figures are per month? So $1,760-3,500 per month for a 1,000 sq ft (gross) apartment?

    Also, re rateable value, this is based on an estimate of the annual rental value (at some point in time) isn't it? So as a rough guess using the annual rent being asked for should give an approximate idea?

    If inclusives are the norm they certainly sound like a better bet!

    A general question for those who have commented -- on an 'inclusive basis' I think I can push my budget up to HK30,000 per month. Would this change any of the recommendations above? I imagine they would be pretty similar except that it might be slightly easier to get what I want within a given location

  4. #114

    Join Date
    Nov 2011
    Location
    Happy Valley
    Posts
    57

    One more question -- I'm going to have 1-2 weeks off before I start work which I plan to use for house hunting. It looks like this could fall over the Chinese New Year period.

    I've been told that *everything* is closed over this time -- I presume that means I will not able to do house viewings over that time? Would that be just the 3 days of public holiday or even the weekend before/after?

    If that is the case then I will probably delay my arrival till just after Chinese New Year so I can fully utilise my time off for house hunting... any thoughts?

    What is Chinese New Year generally like in HK for a newly arrived expat who knows nobody? Is everything closed and the streets deserted? Or is there a lot going on that we could enjoy? A quick google does bring up street parties etc...


  5. #115

    Join Date
    Nov 2011
    Location
    Happy Valley
    Posts
    57

    One more question -- I'm going to have 1-2 weeks off before I start work which I plan to use for house hunting. It looks like this could fall over the Chinese New Year period.

    I've been told that *everything* is closed over this time -- I presume that means I will not able to do house viewings over that time? Would that be just the 3 days of public holiday or even the weekend before/after?

    If that is the case then I will probably delay my arrival till just after Chinese New Year so I can fully utilise my time off for house hunting... any thoughts?

    What is Chinese New Year generally like in HK for a newly arrived expat who knows nobody? Is everything closed and the streets deserted? Or is there a lot going on that we could enjoy? A quick google does bring up street parties etc...


  6. #116

    Join Date
    Mar 2007
    Location
    Gold Coast Marina
    Posts
    17,970

    Imagine christmas day in central london. Yes some stuff happens but shops are shut and most people (locals) are with their families. But there is fireworks and some stuff, not on the first day though.
    I'd delay if I were you, locals here (ie agents and landlords) are fairly preoccuplied around that time.
    Also the "feel" of neighbourhoods will be different; public transport patterns are different so you won't be able to assess journey times accurately - ditto traffic - etc etc.

    Last edited by MovingIn07; 03-12-2011 at 08:27 AM.

  7. #117

    Join Date
    Sep 2010
    Location
    Tung Chung, Kowloon, Hong Kong
    Posts
    744
    Quote Originally Posted by Fragrantharbour
    One more question -- I'm going to have 1-2 weeks off before I start work which I plan to use for house hunting. It looks like this could fall over the Chinese New Year period.

    I've been told that *everything* is closed over this time -- I presume that means I will not able to do house viewings over that time? Would that be just the 3 days of public holiday or even the weekend before/after?

    If that is the case then I will probably delay my arrival till just after Chinese New Year so I can fully utilise my time off for house hunting... any thoughts?

    What is Chinese New Year generally like in HK for a newly arrived expat who knows nobody? Is everything closed and the streets deserted? Or is there a lot going on that we could enjoy? A quick google does bring up street parties etc...

    Come after CNY. It's better to do business after CNY for an auspicious start to the year. We're all busy with ourselves anyway during the hols.

  8. #118

    Join Date
    Sep 2010
    Location
    Tung Chung, Kowloon, Hong Kong
    Posts
    744
    Quote Originally Posted by Fragrantharbour
    Thanks David. So are "inclusives" usually inclusive of management fees as well as govt rent/rates? (I only ask because you mention what you and your friend pay - presumably you pay these because you own your properties rather rent them?). And I presume those management fee figures are per month? So $1,760-3,500 per month for a 1,000 sq ft (gross) apartment?

    Also, re rateable value, this is based on an estimate of the annual rental value (at some point in time) isn't it? So as a rough guess using the annual rent being asked for should give an approximate idea?

    If inclusives are the norm they certainly sound like a better bet!

    A general question for those who have commented -- on an 'inclusive basis' I think I can push my budget up to HK30,000 per month. Would this change any of the recommendations above? I imagine they would be pretty similar except that it might be slightly easier to get what I want within a given location
    Yes, the fees are per month. The rates and gov rent come per quarter. And sometimes we get rate holidays as a little sweetener.

    You made me go back to your OP for what this thread is about.

    I would suggest Olympic.
    Last edited by DavidTC; 03-12-2011 at 09:27 AM.

  9. #119

    Join Date
    Nov 2011
    Location
    Happy Valley
    Posts
    57
    Quote Originally Posted by USTim
    Should also try Bellagio, Palatial Coast, Gold Coast etc. along Castle Peak Rd. You can get larger apartments (1100-1500 sq ft) there with your budget. While seem distant, the drive is actually around 30 min to central using the highway as they are all next to the Highway that goes straight to Central through Western Tunnel. Gym is a common facility in HK except for Old buildings.
    So this is in the New Territories is it? How would you commute if you didn't want to drive in -- MTR? Bus?

  10. #120

    Join Date
    Dec 2009
    Location
    Hong Kong
    Posts
    1,433

    also where would u park in central? it would cost a mini fortune.


Reply
Page 12 of 14 FirstFirst ... 4 9 10 11 12 13 14 LastLast