In Hong Kong the usual agency fee for ﬁnding tenants an apartment is one month’s rent. This is paid for between the landlord and tenant.
Property852 connects landlords and tenants directly so that they can cut out the middle-man and each save thousands of dollars.
Property852 for HK$188
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I saved $17,000 in agency fees by listing my apartment directly on Property852.Henry Ma - Wanchai
We found our new apartment quickly and eﬃciently and saved half a month’s rent at the same time!CL - Sheung Wan
Great to have direct control over renting out my apartment plus it saved my tenant and me over $40,000.Andrew Marshall - Central
Property852 is a property portal site for Hong Kong apartments, serviced apartments, flat shares, shops, offices and even parking spaces. We provide landlords and property owners with the ability to connect directly with home seekers thereby streamlining the process for both parties. In addition to empowering property owners this system also cuts down on unnecessary real estate agent costs for both parties.
When an agent facilitates the deal then their commission is typically the value of a full month’s rent. This cost is usually split evenly between the landlord and tenant. So if a Hong Kong apartment for rent is HK$ 40,000 per month then both parties would have to pay HK$ 20,000 each.
By finding Hong Kong apartments on Property852 and connecting directly, both parties could make a huge saving. Property852 does not take a commission. We earn revenue from the property listings being posted on the website for as little as HK$ 288.
This agent free model is not just applicable to Hong Kong apartments for rent. It is also possible to buy or sell property directly without an agent. When selling with the aid of a realtor the typical commission is one percent of the property’s sale price. This can be a huge sum of money and represent a big saving to both the landlord and tenant.
Of course the process of purchasing a property is a lot more complex than the process of simply renting and it is necessary for both parties to engage the services of a lawyer. However this is the case anyway even if you are purchasing the Hong Kong apartment with the help of a real estate agent.
Typically the agent will handle the preliminary phase of the process such as apartment viewings and land registry checks. For a more detailed explanation of the process please visit our How it Works page.
Online technology continues to develop and as the availability of digital tools increases so does the opportunity for individuals to take control of every aspect of their lives. Where once we were reliant on specialist intermediaries to handle our business on our behalf, now we can handle most aspects of our lives directly with a few clicks. As well as putting you in the driving seat this also means that there are huge financial savings to be made. This trend toward hands on control has already been seen across a variety of industries from online-dating to stocks and shares trading. Now property owners are also realising that Hong Kong apartments for rent are also something that can be handled directly.
Of course none of this is to say that real estate agents do not have a value or that their role will be made redundant by technology. They still have an important job to do. Many home owners for example may not have time to show prospective tenants around the property because they are at their work or live far away. Similarly a prospective tenant may not feel comfortable looking up the land registry index by themselves to confirm that the landlord does indeed own the Hong Kong apartment for rent.
As such Property852 displays property listings from both home owners and real estate agents alike. If the property seeker has a preference between the two then they can easily deselect the appropriate one from the Search Filter on property listings page.
The property market in Hong Kong has to be one of the most fast paced and energetic in the real estate world. With its strong economy and transient expat work force there are millions of Hong Kong apartments for rent every year. The variety of property in Hong Kong is more diverse than some newcomers realise.
The most obvious location is of course Hong Kong Island. While the proximity to work and play may be very alluring, the downside is smaller apartments with higher rent. Of course if you are extremely wealthy then this is not an issue as you can find yourself a nice spacious mansion on the peak.
If you do not work on HK Island or are prepared to make a picturesque ferry commute in the morning then you may want to consider renting a Hong Kong apartment in Kowloon or Lantau. Kowloon apartments offer a bit more value for money and a bit more room to breath. Kowloon itself has a bustling and fascinating scene with many great restaurants and shops including fantastic tailors. Lantau is a beautiful location with sea views sandy beaches and random water buffalo passing by. For those who have been living in Hong Kong for a number of years and are now settling down with a family renting or buying a property in the New Territories is an appealing option with spacious properties in green surroundings there is certainly a clear benefit over the smaller island side apartments.
While Hong Kong apartments for rent may be amongst the most expensive in the world there is of course a good reason for this. HK property is highly sought after due to the many benefits that Hong Kong has to offer. As well as being a vibrant entertaining city with easy access to a variety of Asian destinations, there is also the fact that for many, salaries are larger and tax is lower than other countries making Hong Kong apartments for rent still a worthwhile investment.
You can help mitigate these high prices by using Property852 to find your next Hong Kong apartment and cutting out the middleman. Check out the range of available properties here.
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