Everything You Should Know Before Renting Apartment In Hong Kong
Moving into a new apartment can be exciting, though finding in a good locality suiting your budget can be quite daunting. Finding a home on rent anywhere is not an easy task especially when it is a city like Hong Kong. Housing in Hong Kong ranges from compact spaces to high-end luxurious accommodation with all kinds of amenities.
People these days prefer living where malls, schools, MTR lines, entertainment, etc. are at a reachable distance. Also, these accommodations are budgeted spaces. If you are new to the city and looking for a decent rent apartment in Hong Kong note that the sizes of the properties are measured in square feet.
Evaluate your wants and needs
Accommodation in Hong Kong is competitive. The average rent for a 1 BHK apartment can range from 12000 – 25000 HKD ( i.e. 1500 to 2500 USD) or more. An upscale locality where the standard of living is slightly high so are the rent prices.
Your wants and needs can vary at times and you might need some time to give a thought:
- Pets – Not all apartments in Hong Kong allow pets. So do check in advance if you have a pet. Also, many parks have no-pet policies so what if your apartment allows but you can’t take your furry friend out on run?
- Pool/ Gym/Sauna – Clubhouse might look great and inviting on a property but not on a rental lease. This will add up your rent cost. Do you really need those amenities?
- Commuting time – Choosing a decent neighborhood also means, less commuting time. You have more time to relax at home or hang out with friends than commuting an hour on the train.
How to find a decent apartment in Hong Kong?
When you are looking for a space for rent between a serviced apartment (furnished /semi-furnished that comes with basic amenities like a gym) can be pricy. Standard apartments that are usually unfurnished are affordable, asking for a one month deposit.
Online/ Social media
You can find a decent deal on rental apartments in Hong Kong through any social media platform as well as real estate websites. This way you will be able to close the search quickly. The best part is you get to see the images of the property, featuring it with the amenities and proximity markings thus saving your time and hassle of personally visiting the place. Also, you get to compare the accommodation rents in the same locality. Hence, you get to shortlist the rental property quickly and a hassle-free manner.
Another option is hiring an estate agent. Local Hong Kong real estate agents are pro when it comes to finding out a suitable rental property for you. For a foreigner who has come to the city for the first time, real estate professionals can be the best choice as they are fluent in the city’s housing market. Your agent will have all the details and they are transparent with their renting process.
Typically the rental agreement term will involve 12 months lease. Where after 12 months, individual parties will have the freedom to terminate the lease with a notice period if the clause is written. The rental procedure might differ if you go through a real estate agent but the documentation (i.e. HKID copy/passport, valid work permit, employment letter-sponsorship letter) needed is pretty much the same.