[Radix]

I am interested in purchasing a flat for vacation purposes in Hong Kong. Does anyone know the legal implications of this - that is, will I even be allowed to purchase one? I would be paying cash.

Also, what areas should I be investigating? Due to the nature of the purchase, the main criteria for me is proximity to both "things to do" and transportation. What are my best bets? Anywhere along the MTR on northern Hong Kong Island?

I'm not sure what a reasonable amount to spend is (just starting the research), so let's say 1 or 2 million HKD. Thanks!

[Baron]

Northern Hong Kong Island for HK 1 or 2 million...keep going!

[Sazzy]

3 or 4 million ..... still keep going

[Radix]

Are we talking about the same Hong Kong Island, or is gohome.com.hk completely wrong? There are plenty of reasonable looking flats in North Point (for example) at around 1.3, 1.4 million. I don't want a mansion there...remember, this is only for vacations. Four hundred something square feet in that range.

Either way, I live in an area where you need to spend at least 1.5 million USD for a semi-decent house. So I would consider a 5 million HKD flat there almost free. And remember, I said I wasn't sure what a reasonable price range was. Please provide me with some useful information (what do you think is correct?) rather than pointless replies.

[wing]

Outer islands, Sai Kung, Tai Po, Discovery Bay (1 bedroom) and most of the New Territories still have some units selling for less than $1.5M HKD. I picked Discovery Bay because of the transportation options - ferry to Central, bus to Tung Chung/MTR, vicinity to the airport. And, the Home Owner Association fee is only $1 per sq ft.

[Sazzy]

Try looking here http://www.geoexpat.com/resources/property-agents/

it will give you a few ideas on prices. Dont forget Agents fees etc etc

[Baron]

Originally Posted by Radix

I would consider a 5 million HKD flat there almost free...

Give me a break moneybags! I'm sure with a comment like that, the locals will love you.

[stefano4459]

depends on what type of place you want and what you want it for? investment or to live in. North Point is an old part of HK island but easily accessible to other parts of HK, so even old flats can be expensive.

[fly]

The ads in gohome give you a general idea, and it could be the cheaper ones are there just to hook you in to the agent and naturally, they will try to upsell you.

For a better view, check the transaction details, do a google on centaline or centanet.

[dbgreenburd]

email me at dbgreenburg@yahoo.ca. I will talk to my agent here in db and find out for you what is involved for a foreigner (I assume you do not have hkid card) to invest in property here.

Cheers.