The Highs & Lows of Buying Property in Hong Kong

Expat Property Story

#91

No amazing guests this week because I thought you might like to hear about mine and my wife's experience of buying property here in Hong Kong

This episode explores some of the questionable tactics developers and sales agents use to get prospective property purchasers to put their hands in their pockets, including lotteries, lucky draws and luxury amenities.

After several failed attempts, we finally got our feet on the Hong Kong housing ladder and bought a tiny one bed apartment off plan on the lowest floor of a new build development in the New Territories.

We watched on with excitement as the property gained 50% in value while it was being built giving us a potential profit of £200,000!

But circumstances conspired against us as Stamp Duty rules, Donald Trump and the Hong Kong protests lowered the value and we were left trying to catch a falling knife…

Tune in to find out how this particular Expat Property Story concludes!

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sales agents, commission, unregulated, upmarket locations, new developments, aggressive marketing, brochures, business cards, lottery, apartment, hotel, exhibition center, lesson learned, property investment, equity, COVID lockdown, property sales event, nature documentary, meetup, Dubai, three-bedroom apartment, pressure, pushy agents, mortgage, good debt, bad debt, lottery system, registering interest, lucky draw, rigging, incentives, research, auctioning, valuation, financial constraints, secondary market, upfront payment, mortgage comparison, offset mortgage, rental market, oversupply, off-plan developments.