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Online rental prices - a reliable representation?

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  1. #1

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    Online rental prices - a reliable representation?

    Before our move to HK in August (we have visited several times before) I have been checking out what is out there housing wise online, especially spacious.hk, hongkonghomes and here on geoexpat.

    Hoping to get some advice from people who have recently done the same thing or are in the know!

    - Just wondering if the prices shown online are an accurate representation of how much apartments actually go for (either less or more).

    - In your experience, did you find you were shown very different places by agents than those you saw online (either for the better or worse)?

    - Any other websites or agents you could recommend (can p.m me if better)

    Just gauging my expectations and getting a feel for what we could get for our budget!
    (1 couple and a small dog - I know, complicates things!


  2. #2

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    Quote Originally Posted by Enzos:
    Before our move to HK in August (we have visited several times before) I have been checking out what is out there housing wise online, especially spacious.hk, hongkonghomes and here on geoexpat.

    Hoping to get some advice from people who have recently done the same thing or are in the know!

    - Just wondering if the prices shown online are an accurate representation of how much apartments actually go for (either less or more).

    - In your experience, did you find you were shown very different places by agents than those you saw online (either for the better or worse)?

    - Any other websites or agents you could recommend (can p.m me if better)

    Just gauging my expectations and getting a feel for what we could get for our budget!
    (1 couple and a small dog - I know, complicates things!
    Simple answer is no. False advertising, or 'representative listings' in 'Real' Estate lingo is rife here, and you can take it as little more than a chance to look at a few nice pictures.

    Some of the facebook groups are good - for example, https://www.facebook.com/groups/saikungrealestate/ and the listings here on Geoexpat. But in general until you actually step inside a flat and see it with your own eyes, believe nothing.
    JAherbert, Enzos, Cwbguy and 1 others like this.

  3. #3

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    (I am assuming this is a sincere question - we've been spammed by some dodgy website that has revived a bunch of old accounts to ask questions and then someone comes around with a glowing testimonial about this site. F'ing pricks..)

    Yes, there is bait and switch from both landlords and estate agents (and there are tons of dodgy tenants out there too... so lets just say, verify, verify and verify before you trust).

    Question - What price range are you looking at and what agencies and locations have you been to?

    Websites / Facebook - Far too easy for dodgy agents to bait and switch. Once locations and budgets have been sorted out, I'd personally look at sites like Centadata and see what the transaction range has been.

    In my experience there are plenty of good estate agents out there, you just have to do a little bit of legwork.

    Random Example below:

    Click on the "Rent" and Select 90 days and check out what has been rented out in South Horizons in the last 90 days and at what price. This data is far more accurate and is publicly available for you to verify before you make an offer.

    From the below search the first result (click on details) shows:

    Rm A Middle Floor Berkeley Court (block 33) Phase 4 The Oasis South Horizons
    521 s.f. ($34/s.f.) garea 666 s.f. ($26/s.f.)
    Lease $17.5K
    From Centaline, transacted on 15/01/2017
    Unit Usage: Private Residential, Building Age: 22 year(s)
    Unless you're dealing with a dodgy landlord AND a dodgy estate agent or an exceptionally decorated property / spectacular views - you'll be able to close on a lease similar to that in the 17-18K range for that sized apartment in that estate.

    中原地圖 www.CentaMap.com
    TheBrit and megapsych like this.

  4. #4

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    Quote Originally Posted by shri:
    (I am assuming this is a sincere question - we've been spammed by some dodgy website that has revived a bunch of old accounts to ask questions and then someone comes around with a glowing testimonial about this site. F'ing pricks..)
    Yes, this is definitely a sincere question! Thanks for the centamap link, It's very interesting! I'm wondering what the background of this site? Did the govt set it up for property transaction transparency or something?

    We are looking to spend 19-23k on a 2bd in an area accessible to our work in Ho Man Tin.
    So far v. interested in Kowloon Tong for it's lower density and I've heard it's dog friendlish.

    Company will set us up in a serviced apartment until we find a place, ideally within 20days.

  5. #5

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    Centamap is run by Centaline - one of the larger if not the largest estate agency in HK. Not a government run site.

    By the way, any estate agent should be able to pull up a transaction list of rental / sales in the building that you're interested in.

    Talk to your local colleagues - they'll also be able to help you dig up transaction info from other sites. I know there are a few, Centamap offers a basic English interface and is one I send people to check.


  6. #6

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    Quote Originally Posted by kimwy66:
    Simple answer is no. False advertising, or 'representative listings' in 'Real' Estate lingo is rife here, and you can take it as little more than a chance to look at a few nice pictures.

    Some of the facebook groups are good - for example, https://www.facebook.com/groups/saikungrealestate/ and the listings here on Geoexpat. But in general until you actually step inside a flat and see it with your own eyes, believe nothing.
    Thanks for the tips - That facebook group actually has me considering living in the new territories! Def more bang for your buck!

  7. #7

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    Another pro-tip. Centadata allows you to also review how much the landlord bought the property at. While it should not make any difference in current rentals, it is a softer bargaining point (someone who has had the property for 10+ years and at half the current market price, might be more inclined to rent a little bit cheaper to get a better tenant).

    Morrison likes this.

  8. #8

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    You'll get even more bang for the buck in Bohol, Philippines. (Coming from an HK island snob..)

    sunnymove likes this.

  9. #9

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    Quote Originally Posted by Enzos:
    Thanks for the tips - That facebook group actually has me considering living in the new territories! Def more bang for your buck!
    If you are looking for more room than you might get on average, try somewhere like Lohas Park. Cheaper, bigger, allows dogs and has its own MTR stop. Admittedly the wait for a train will be longer than on the main lines, but better than no MTR. Tseung Kwan O (Hang Hau, Sheung Tak, Po Lam) in general is a 'more bang for your buck' area, with great leisure facilities. It has shitty road layouts and several roundabouts-of-doom, but if you don't drive you can appreciate the great cycle path connections instead.
    Last edited by kimwy66; 18-02-2017 at 10:35 AM.
    shri and Enzos like this.

  10. #10

    You don't know the real price and real scene unless you can read Chinese.

    English websites are for the foreigners, and may give you another picture from the Chinese ads.


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