If you pay attention to advertisements of real estate agents, you will often see a note which says “land premium has been paid” for HOS flats listed as on offer for sale. What is the premium?
Property Tips
[A comprehensive guide on government rent] Which types of properties need to pay government rent?
Many people find it difficult to distinguish between rates and government rent, and they don’t even know how they are assessed. Some people still say that those living on Hong Kong Island and Kowloon need not pay government rent.
Comprehensive Buyers’ Guide to Obtain 90 percent Home Mortgage Loan
Tom: “The government has relaxed mortgage insurance schemes, thus paving the way for more properties to become eligible to apply for and obtain mortgage loans of up to 90 per cent of the value of a flat. But is it difficult to apply for a mortgage loan?”
What tips are useful to landlords?
Not all properties can be offered for rent! If the property has been mortgaged to the bank, in principle, the mortgagee’s consent must be obtained before the property can be offered for lease. Many banks also have mortgage or rent restrictions on non-self-used properties.
What is the process of selling a flat?
1. Sign the Estate Agency Agreement for Sale of Residential Properties in Hong Kong and appoint a real estate agent to sell a flat
How can a first-time tenant or renter protect himself?
There have been fraudsters who pretended to be the landlord and who “disappeared” after receiving the tenant’s deposit. To avoid falling into this trap, first-time tenants should conduct a property search before signing a lease to confirm that the unit’s lessor is the “genuine landlord” and whether the ownership of the flat is complete.
[Trading of a haunted house] Is a haunted house worth buying? Is there a way to determine if a property is haunted?
Many people are averse and are very likely to resist any suggestion to purchase a “haunted house.” But because prices of “haunted houses” are generally discounted, properties in good locations have become the pick of some first-time homebuyers.
[Inheritance property rights] Frequently asked questions (FAQ) about inheritance property
In the event of death, the deceased is likely to leave some estate, which may include money, stocks, or property. When the inheritance includes a piece of property, this will involve numerous procedures. The following are common questions regarding inheritance of property.
[Comprehensive guide for Home Ownership (HOS) Flats Mortgages] Mortgage tenor and focus of New HOS programme against HOS White Forms holder
Although new HOS flats and those eligible for purchase by buyers with White Forms are both subsidized housing provided by the Housing Authority (HA), the first programme involves first-hand properties, while the latter involves used HOS flats before premiums for them are paid to the government.
[Buying property through shares transfer in a company] What you need to know about actual operation and hidden risks
There are numerous big-ticket property transactions in the market with values that exceed HK$10 million. These properties are often held by companies. What is it really like to purchase a property through shares transfer in a company?
[Must-read for first-time renter or tenant] Six smart things when renting a flat
While the threshold to rent a flat is low, the tenant still has to do diligent and meticulous homework. “Six Smart Tips” that a Tenant Must Know!
How much stamp duty do I have to pay?
Currently, the Ad valorem stamp duty rate for residential property transactions is flat at 15 per cent.
Does credit rating affect mortgages?
A personal credit rating is a reference indicator that most banks use when processing and approving loan and mortgage applications.
What should you do if you receive lower valuation from banks?
Banks usually evaluate the market value of a property based on different factors, including the property’s location, views from the flat, on which floor it is located, and transaction records in the building when appraising the property.
What is a bank’s stress test?
To avoid excessive lending that could lead to a housing bubble, the government has introduced a stress test.