Published on 14 February 2007 at 07:05 pm
Filed in Property News for Hong Kong » Is 2007 a Good Time to Enter the Hong Kong Property Market?
Most major analysts agreed that going in to 2007 the Hong Kong property market was set up as an exciting prospect for established investors - but if you’re not there already is 2007 actually a good time to enter the Hong Kong property market for newbies? We examine the market climate…
2006 got off to a shaky start in terms of the Hong Kong property market, however all sectors of the real estate economy recovered well by the fourth quarter of the year and some such as office and high end residential recovered exceptionally well setting the market up for a positive start to 2007.
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The property buying process in Hong Kong is governed by the Conveyancing and Property Ordinance which was first introduced in 1984; this ordinance is based on English law and is therefore relatively standard and straightforward for British and even American real estate investors.
This article explains how to buy investment property in Hong Kong in general terms; for a more specific and personal assessment of an investor’s legal and financial liabilities, advice can be obtained from a lawyer and estate agent in Hong Kong when the hunt begins for real estate suitable for an investor’s objectives.
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Hong Kong is an exciting market for property investors right now because the potential for the real estate sector in this Special Administrative Region of China is huge as Hong Kong’s fortunes are expected to rise in line with those of China.
This potential is further intensified by the fact that the development of residential and commercial property in Hong Kong is physically restricted by geographic area, by the fact that demand for new apartment accommodation annually outstrips supply already and because the number of new apartment developments started in recent years is down which will now lead to demand exceeding supply to the tune of an estimated 20,000 units per year for the next four years.
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The Hong Kong real estate market is buoyant and already makes an excellent investment choice for international buyers; but as the gateway to the largest emerging economy in the world, namely China, Hong Kong is poised on the brink of an incredibly exciting period and this excitement is being felt more and more in the already successful property sector.
Real estate investors in Hong Kong currently have great choice and the potential for great yields - but according to expert economic opinion, they are about to enter an age of as yet unprecedented prosperity.
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