Expat Apartments in Hong Kong
Generally, property is very expensive in Hong Kong. You should carefully consider what type of property you are willing to live in and the package you are offered by your employer. If you choose to live further from the central business district, you are likely to find better prices but you will have longer journey times to work (assuming you work on Hong Kong Island).
You should make sure you are choosing the right property and that you are able to break your contract if you are transferred as lease breaking (usually 2 years with a bond of one months rent) can be expensive.
As you'd expect in a large city, Hong Kong has quite a few housing areas that expatriates tend to favour and they vary considerably, depending on the lifestyle of the expat. For example, families with small children may favour housing on the Southern part of Hong Kong Island. Those seeking a more exclusive and up market environment may seek an expensive apartment or townhouse on a private park estate at the Peak (with very good access to the Central business area). Single expats or young couples without children would likely rent a property in or around the mid-levels, giving them a short walk to Central and very near the restaurants and entertainment hot spots of Lang Kwai Fong.
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Generally, apartments in Hong Kong are leased in good order, will most likely be unfurnished although you may find appliances such as washing machines and refrigerators etc are already fitted. Air conditioners are a certainty but make sure you check first, as air conditioners are vital for comfortable living in Hong Kong during the summer months, when temperatures and humidity can soar.
For shorter periods, you may be interested in the many serviced apartments available, usually with excellent facilities. You will of course be paying a premium for this.
Invariably, rentals are payable monthly. You should budget at least 12 percent to cover management fees and government rates. Serviced apartment will not have such charges added. Deposits are always required and may be the equivalent of up to three months rent, will be held by the landlord until the end of your tenancy and refunded minus any charges for damage. You should not have any charges made for what should be considered fair wear and tear. Interest will not be paid on the deposit.
As stated above, tenancy agreements in Hong Kong are usually for 2 years and if you wish to continue living in the apartment, you have the right of fist option after each tenancy period. This is the law in Hong Kong and should be at the prevailing market rate.
It is almost always up to the tenant to arrange the connection of utilities.
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