For expatriates who are new to the city the process of renting an apartment in Hong Kong can be at times a confusing experience, below are some information that can help the first time renter in Hong Kong.

Gross Square Feet. In Hong Kong, the real estate practice is a bit confusing when it comes to the defining the size of an apartment. Because Hong Kong is such a land scarce city, traditionally, developers have advertised property sizes by the total gross square feet so it can give the illusion of a larger sized apartment. The gross square feet of an apartment is actually the total covered area and can include allocated parts of common areas such as the lift and main lobby, club house, and management office etc., so for apartments in different buildings with different common areas, they are not actually comparable by using the gross floor area advertised.

It is more relevant to compare properties by the Saleable area, which includes the balcony, but does not include all the common areas, but the catch is the Saleable area is not openly advertised by Real Estate agents. In Hong Kong the ratio of Saleable area to Gross floor area can be around 70% to about 83% (efficiency), so to save time while looking around for properties for rent, don’t target a specific gross floor area but a range depending on your required size of apartment.

The higher up the apartment is, the higher the space efficiency. An interesting fact is that the higher the apartment in a building, the better it is in term of the space efficiency. This is because the gross floor area of the apartment is the covered area, which unfortunately includes all the areas taken up by the structural walls. The higher up the apartment is in the building, the load bearing structural walls become thinner as there is less building to support, and thus allows for more actual living space.

Curtains and fittings.When viewing an apartment for rent in Hong Kong, a common mistake is to not realize that the apartment has no curtains and discovering too late as the apartments are rented on an “as is” basis. In Hong Kong new apartments don’t include curtains and fittings in the sale, and for renovated apartments the curtains are left to last as they can be quite costly and also just gather dust in a vacant apartment. So if the apartment has no curtains and fittings make sure to get the agent to include the installation in the agreement, or, depending on the landlord, you may end up paying for them out of your own pocket.

What you need to rent an apartment in Hong Kong. The following is the standard costs and documentation needed in-order to rent an apartment. Related costs include 2 months rental deposit, 1 month rent in advance, half month rental for estate agents commission, and Stamp Duty. For documentation, generally, a HKID Card or passport is all you need, but sometimes the landlord may require a proof of employment such as an employment contract.

Utilities. Utilities such as water, power and electricity in Hong Kong is relatively easy to set-up, transfer, or discontinue. But for Cable television and internet such as NowTv and Broadband, the contract would require a minimum term of normally 18 months, the penalty for a premature end to a contract is the full payment of the remaining terms left in the contract.

Hong Kong is one of the most vibrant and intriguing destinations in the world. Hong Kong is also among the world’ most busiest and fast-paced cities. Hence, no wonder why real estate in Hong Kong is so much sought after. Real estate in Hong Kong is regarded as one of the costliest as well as the lucrative in the world. Buildings and land in Hong Kong form a significant portion of the nation’s wealth and economy. Further, due to its attractive tax system, many international business firms and corporations find their way to Hong Kong for the establishment of their innovative projects. This in turn has led to great demand for high grade industrial and residential real estate in the city.

Nowadays, great choices as well as potential are made available for those who are interested in real estate investment in Hong Kong. Additionally, real estate in Hong Kong provides great benefits to investors. The main advantage is that investing in a property in the city allows you to have access to world’s one of the established markets. Another worth mentioning benefit of investing in a real estate here is that not any kind of restrictions have been imposed on international investors to buy a property or asset. Further, buying a real estate in Hong Kong is considered one of the best options for long term investment, as it can undoubtedly fetch you huge profits.

Hong Kong’s property buying processes are administered by the Conveyancing and Ordinance, which is modeled in the form of English Law. The real estate law of this Special Administrative Region is quite similar to the one found in the UK, which in turn has attracted many American and British real estate investors.One of the unique things regarding the Hong Kong Property Law is that all of the land found here belongs to government, ie, each of the real estate in Hong Kong is held under leasehold title. Hence, those who are interested in property investment buy an agreement or a lease for a period ranging from 50 to 999 years.

A real estate or property in Hong Kong can be either solely owned by one person or through jointly by several investors. However, joint investment may be usually in the form of tenant or a joint tenancy. Further, a property can also be owned through a company structure. But, in case, if a company would like to conduct its business through the purchase of a property on lease, then it should be registered with the Hong Kong Companies Registry. In addition, every type of lease should be listed at the Hong Kong’ Land Registry.

Nowadays, a large number of real estate firms and realtors are now there in order to help you find and buy your dream property in Hong Kong, no matter it is single detached home, villa, apartment, office, or industrial space. Many of them render the services of professional lawyers to help you in effectively carrying out buying procedures, such as agreement process, listing on the Hong Kong Land Registry or Hong Kong Companies Registry, tax matters, and negotiation of purchase.