Everything you need to know before renting an apartment in Hong Kong
Moving into a new apartment can be exciting, but finding a good location that fits your budget can be quite daunting. Finding a house for rent anywhere is no easy task, especially when it comes to a city like Hong Kong. Housing in Hong Kong ranges from compact spaces to high-end luxury accommodation with all kinds of amenities.
People these days prefer to live where shopping malls, schools, MTR lines, entertainment venues, etc. are within reach. Additionally, these accommodations are budgeted spaces. If you’re new to the city and looking for a decent rental apartment in Hong Kong, keep in mind that property sizes are measured in square feet.
Assess your wants and needs
Accommodation in Hong Kong is competitive. The average rent for a 1 BHK apartment can range from 12,000 to 25,000 HKD (ie 1,500 to 2,500 USD) or more. A luxury town where the standard of living is a bit high, so are the rental prices.
Your wants and needs may change at times and you may need some time to think:
- farts – Not all apartments in Hong Kong are pet friendly. So check ahead if you have a pet. Also, many parks have no pet policies, so what if your apartment allows it but you can’t take your furry friend for a run?
- Pool/Gym/Sauna – The clubhouse may look cool and inviting on a property, but not on a rental agreement. This will add up your rental cost. Do you really need those amenities?
- Change time – Choosing a decent neighborhood also means less travel time. You have more time to relax at home or hang out with friends than to travel an hour on the train.
How to find a decent apartment in Hong Kong?
When looking for a rental space between a serviced apartment (furnished/semi-furnished that comes with basic amenities like a gym) can be expensive. Standard apartments that are not normally furnished are affordable and require a month’s deposit.
You can find a decent deal on Hong Kong apartments for rent through any social media platform as well as real estate websites. This way you can quickly close the search. The best part is that you can view pictures of the property, showing it with amenities and proximity markings, saving you the time and hassle of personally visiting the place. In addition, you can compare accommodation rentals in the same location. Therefore, you can shortlist the rental property quickly and without problems.
real estate agents
Another option is to hire a real estate agent. Local Hong Kong estate agents are professionals when it comes to finding a suitable rental property for you. For a foreigner who has come to the city for the first time, real estate professionals may be the best option as they dominate the real estate market in the city. Your agent will have all the details and is transparent with your rental process.
Generally, the term of the rental agreement will imply a 12-month lease. Where after 12 months, the individual parties will be free to terminate the lease with a period of notice if the clause is in writing. The rental procedure may differ if you rent through a real estate agent, but the documentation required (i.e. HKID copy/passport, valid work permit, letter of employment, and letter of sponsorship) is largely the same.