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  • 1 Post By jaykay

buying apartment or village house

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  1. #1

    Join Date
    Feb 2012
    Posts
    25

    buying apartment or village house

    Housing price in hkg is getting crazier than ever. And almost impossible to look for a place under 2 million.
    And suggestion? And how bout getting a village house?


  2. #2

    Join Date
    Feb 2011
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    Hong Kong
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    Well even under 3m is nearly impossible. Keep in mind banks do not like to lend on village houses and you will have larger down payments (50-70% cash needed) and difficulties in the legal process compared to buying in a newer high rise.

    Are you asking where to buy under 2m?


  3. #3

    Join Date
    Feb 2011
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    Hong Kong
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    Plus a lot of the cheaper ones are 150-200 sq ft. Is that something you want?


  4. #4

    Join Date
    Feb 2012
    Posts
    25

    I still haven't decided, apartment or village house. And the truth is I have limited budget. But considering how expensive rent it, and like throwing away money every month, and I'm tired of sharing a flat. So I thought maybe buying a place is a good idea.


  5. #5

    Join Date
    Feb 2011
    Location
    Hong Kong
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    What is your budget then?

    You have to consider the cash needed and the monthly payments and interest rate increases to come.


  6. #6

    Join Date
    May 2015
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    3,026

    Are you a permanent resident? If not, it makes less sense to buy as you'll get hit with the foreigner tax (15 %).


  7. #7

    Join Date
    Feb 2011
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    Foreigners also have to pay double stamp duty.


  8. #8

    Join Date
    May 2005
    Location
    Sai Kung
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    4,146
    Quote Originally Posted by MandM!
    Foreigners also have to pay double stamp duty.
    Non PR. Not simply foreigners.
    MandM! likes this.