Hong Kong Property Brief Overview

Hong Kong Property Brief Overview發布自Homenet Hong Kong Property Agency - Real Estate Agents 房產經紀

出自: Homenet Hong Kong Property Agency - Real Estate Agents 房產經紀  2012/05/24
關鍵字 Hong Kong, HK, 香港

Hong Kong property is all leasehold and is in actual fact all land is owned by the Government of the Hong Kong Special Administrative Region, original leases of all Hong Kong Land ranged from 50+50 years, 75+75 years, 99+99 years and some even 999 years which was mostly granted for land on Hong Kong Island.

Before the handover of Hong Kong to China in 1997, on the 27th of May 1985 the British and Chinese government signed the Sino-British Joint Declaration which automatically renewed all expiring Leases for a period of 50 years from 1997 until 2047 so in fact a large majority of lease are due to expire in only 35 years time.

Regardless of this, Hong Kong has function independent of this fact, from 1985 the Hong Kong Property market has seen has large rises and falls including the 1997 Asian Financial Crisis, 2003 SARS outbreak, and the 2008 Financial (Sub-prime Mortgage) Crisis, these events made many millionaires and also caused the largest amount of negative equity for individuals and families.

Currently because of extremely low mortgage rates the property market in Hong Kong is again at new levels even surpassing the 1997 bubble levels, what holds for the future? No one is sure, there are heated debates over an existence of a property bubble and with 2047 quickly approaching the future is filled with uncertainties for the real estate market. In these times of increased uncertainties it is imperative to be more informative than ever, so for information on the Hong Kong Property market and buying strategies just advice please don’t hesitate to contact us for advice.

關鍵字 Estate Agency, HK, Hong Kong, Property, 地產, 香港

聯絡Homenet Hong Kong Property Agency - Real Estate Agents 房產經紀

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