Bella Vista - Thinking or 1 br purchase

[travelfrog]

I am thinking of purchasing a furnished 1 BR apartment with an outside terrace at Bella Vista. The primary purpose is for an investment and the asking price is 4.9m.

Questions:

1) How negotiable are asking prices and estate agent fees? What are my chances of being able to negotiate in current market conditions?

2) What would the rental value of this property be?

3) Good time or bad time to buy?

Thanks.

[wtbhotia]

Planning Your Purchase - Square Foot

check out the website above, its got lots of information.

rents are going up espically around my area (clearwater bay), houses that used to cost 6K rent are now going for 10K up. one of the major factors for rents going up this much is a lot of expact with housing allowance dont bargin or try to reduce the price which the locals are picking up on so whatever the property owner is asking, if its within range of the housing allowance of the expat he's going to get it.

some people say prices will keep on going up, some say that by the end of this year property is going to come down hard. It depends on who u listen to.

if u do purchase this property, try to rent it out to a expat with a large housing allowance.

Good Luck.

[gentlebob]

To Travelfrog

I am an estate agent in HK and an expat. I can say with some certainty that Bella Vista is one of the best values in MidLevels because it is very popular among young single professionals. It has killer views (esp above 17th floor or so) and is one of the select buildings in MidLevels with its own pool and clubhouse.

Rents in general are up in Hong Kong this 08 Spring and Summer because sales are flattening and that's how it works.

If you want an expat agent priv message me, or I can refer you to someone.

I know for a fact you can get in the 20'sK per month for a flat in BV that is in the 600sf range. Always price it high, BV is popular and there are some landlords who price low and others with similar flats who price in the high 20's. The customer can bargain you down if you're too high, or your landlord side agent can advise you.

[mddweller]

Bella Vista is considered by many to be overpriced because the real area (not gross area used by agents) is much smaller because of the large common areas (lobby...). The bad news is it's now surrounded by construction sites on Caine Road and just 50m away on Castle Road. The much dreaded pile driving is scheduled to begin in one site after another. In a year's time, the 'killer view' will be the new building right in front of your couch.

Last but not least, in Mid Levels there are plenty of buildings with a clubhouse.

[elle]

You are aware that this thread is already 3 years old.... !?

[randy1]

You are aware that this thread is already 3 years old.... !?

Bella vista is a great apartment building in my opinion. High quality. Easy to rent out. Great location.

Would now cost around 6.5m for a
1brm. So had the op purchased at the time he would be nicely up and sitting on gains