As a property investor it is important to gather and analyse objective data on the property market and the overall macro-economy. Macro-economic data is widely available in the form of interest rates, inflation or CPI rates and GDP growth rates. When looking at the property market, we can make use of a property index to follow the general trend in property prices.
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The MTRC issued a press release (pdf) highlighting their green light from the Government to proceed with a detailed proposal for the scope, cost and implementation of the West Island Line.
The West Island Line is an extension to the MTR Island Line and includes the addition of three more stations to the west of the existing Sheung Wan station. The additional stations are Sai Ying Pun, University and Kennedy Town.
The new line, once completed will provide a great boost to the station areas and neighbourhoods in the vicinity and should lead to an increase in property prices in the area.
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A licensing regime for the estate agency trade has come into effect since 1 January 1999. An individual or a company carrying on estate agency work in Hong Kong must hold a valid licence. It is an offence to practise estate agency work without a licence.
Source: Hong Kong Estate Agent’s Authority
To do real estate agency work in Hong Kong you must have an Estate Agent’s License. Fortunately, the process is simple but it does require some effort to study the material. While preparing for the exam I spoke to people who had passed and I was told it was easy and required little study. I took their advice, did some basic study and was rewarded with a fail and 3 month wait till the next exam. Moral of the story? Study.
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A Land Search is a necessity when thinking of buying or renting real estate in Hong Kong. A property search at the Land Registry in Hong Kong will cost you HK$10 for a current search and HK$25 for a current and historical search. The extra $15 is definitely worth it if you are serious about the property. It shows you the history of the property including the date it received an occupation permit, among other things.
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