According to CNBC, Hong Kong still holds the most expensive housing market for seven consecutive years now. This is because there is very little land to be developed. Renting, just like owning, can be as expensive. The rate of expats moving to the country is still on the rise. If you are one of those making the big move, here are some useful housing tips you might need to consider.
Since apartments can be tiny, you barely have space for other things more than your basic needs. Don’t even attempt to fly in your whole wardrobe and forget about your home pieces. Nonetheless, you can still make your unit feel homey by checking out customised furniture in Hong Kong. Forget excess and focus on comfort and style.
Explore all possible options
Before the big move, plan a visit to explore your options. Transacting online is not advisable. You have to be there to have a grip on the situation. You would want to stay in a posh apartment located in the major business district. However, it is going to cost you a lot more. The good thing is, Hong Kong is not very big, and public transportation is convenient, so try to see more than one real estate agent and check on as many units as possible in different areas.
Consider the cost of living
As Edward Yiu, an urban-studies scholar, said during his interview with TIME, the price of housing is increasing faster than salaries. You may have been offered a fat paycheck, but you might need to see how much of it will have to go to your rent. You also need to consider other expenses like food and utilities. Since you are an expat and want to make the most of your stay, try to meet as many people as possible. Try to allocate a budget as well.
Your life in Hong Kong is going to be a lot different, especially when you have to live in a small unit. There are many things that you have to take into consideration. It may take a while for you to adjust, but embrace it as a unique learning and travel experience.