[sfgal]

I am thinking of buying an apartment in Hong Kong but would like to rent it out as I will continue to live in the USA for a couple of years more. My questions are: 1)Will I be able to get residency status (not sure of the type) after I purchase the apartment? 2)Will it be easy to rent out the apartment? I am thinking of buying a newer build medium 2 bedroom place in Kowloon side near Hung Hom (maybe?). But, I am not looking to invest 6.5M.

[JAherbert]

hi,

1) No, minimum investment is HK$7 million for seven years, if due to market condition investment becomes valued at less than HK$7 mil. you will need to top-up.

2) The market conditions are buoyant, rental income is rising. However overseas landlords often have empty apartments because there is nobody local to chase the agents to lease, also it is difficult for landlord to sign lease without a relative, etc. locally to sign the lease.And of course it is far easier to sell an apartment without an incumbant tenant.

hope this helps.

[freeier]

r u going to purchase with cash or taking a large bank loan.
if latter, then i'd advise against it unless you have a crystal ball tellin you property prices are shooting up 30% in the next 3 years.
the rental yield is not even going to cover your cost of fund, i.e. you have to subsidize your tenant to rent your place.

[sfgal]

Thanks for your reply! I was thinking of taking out a loan and renting it out since I will not be living in HK for the next few years. Boy, this doesn't really sound like it's a good idea afterall. One of the reason I want to buy an apartment is that my parents may want to be able to retire in HK soon. Another question is, will I be allowed to work there once I purchase property?