Real Estate in Causeway Bay, Hong Kong
Last updated on Nov 08, 2024
Summary: Expats and retirees talk about real estate in Causeway Bay, Hong Kong? How do you find a home in Causeway Bay? Should you buy or rent? What is the cost of housing?
How do I find a place to live in Causeway Bay?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"Finding a place to live in Causeway Bay involves several steps. First, you need to determine your budget. This will help you narrow down your options as the cost of living in Causeway Bay can be quite high. Next, you should decide on the type of accommodation you want. This could be an apartment, a serviced apartment, or a shared house. If you're planning to stay for a long time, renting an apartment might be the best option. However, if you're only staying for a short period, a serviced apartment or a shared house might be more suitable. Once you've decided on your budget and the type of accommodation, you can start your search. There are several online platforms where you can find listings for rental properties in Causeway Bay. These include websites like 99.co, Squarefoot, and Spacious. You can also use a real estate agent to help you find a place. They can provide you with options that match your criteria and arrange viewings for you. However, keep in mind that you'll need to pay a commission if you choose to use an agent. When you find a place you like, make sure to visit it in person before making a decision. This will allow you to check the condition of the property and the surrounding area. Once you've found a place you're happy with, you'll need to negotiate the terms of the lease with the landlord. This will include the rent, the length of the lease, and any other conditions. Finally, once you've agreed on the terms, you'll need to sign the lease and pay the deposit and the first month's rent. Make sure to read the lease carefully before signing it to ensure you understand all the terms and conditions. Remember, finding a place to live in Causeway Bay can take time, so it's best to start your search well in advance of when you plan to move," said one expat who made the move to Causeway Bay.
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What is a typical expat home or apartment like in Causeway Bay?
"A typical expat home or apartment in Causeway Bay, is usually a high-rise apartment due to the dense urban environment. These apartments are often compact, with efficient use of space being a key feature. Despite their size, they are usually well-equipped with modern amenities and high-quality furnishings. The living room is typically the largest area, often combined with a dining space. It is usually furnished with a comfortable sofa, a flat-screen TV, and a dining table. The kitchen is generally small but functional, equipped with essential appliances like a refrigerator, stove, and sometimes a dishwasher. Bedrooms in these apartments are often small, with enough space for a bed and a small wardrobe. Some larger apartments may feature a master bedroom with an en-suite bathroom. The bathrooms are usually modern and clean, often featuring a shower rather than a bathtub due to space constraints. Many apartments in Causeway Bay offer stunning views of the city skyline or Victoria Harbour, especially those on higher floors. Some buildings also provide shared amenities like a gym, swimming pool, or communal garden. Despite the hustle and bustle of Causeway Bay, these apartments are often soundproofed to provide a quiet living environment. They are also typically located close to public transportation, shopping centers, restaurants, and parks, offering a convenient lifestyle for expats," remarked one member in Causeway Bay.
What is the average cost of housing in Causeway Bay?
If you are thinking about moving to Causeway Bay, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The average cost of housing in Causeway Bay is quite high compared to other areas due to its prime location and high demand. As of recent data, a typical apartment in this area can cost several million Hong Kong dollars, with smaller units costing slightly less. However, prices can vary greatly depending on the size, condition, and exact location of the property. Luxury apartments and penthouses in this area can cost significantly more. It's also important to note that these prices are subject to change and can fluctuate based on the real estate market," explained one person living in Causeway Bay, Hong Kong.
Should I buy or rent a home in Causeway Bay?
If you have not spent a lot of time in Causeway Bay, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"Deciding whether to buy or rent a home in Causeway Bay, depends on your financial situation, long-term plans, and personal preferences. If you have the financial means and plan to stay in the area for a long time, buying a home could be a good investment, as property values in Hong Kong tend to appreciate over time. Owning a home also provides stability and the freedom to make changes to the property as you wish. On the other hand, renting a home in Causeway Bay offers more flexibility, as you can easily move to a different location if your circumstances change. Renting is also generally more affordable in the short term, as you won't need to pay a large down payment or cover maintenance costs. Additionally, the Hong Kong property market can be volatile, so renting may be a safer option if you're concerned about potential fluctuations in property values. Ultimately, the decision to buy or rent a home in Causeway Bay should be based on your individual needs, financial situation, and long-term goals," remarked one member in Causeway Bay.
About the Author
Joshua Wood, LPC is one of the Founders of Digital Nomad Exchange and serves as Co-President of Expat Exchange. Prior to Expat Exchange and Digital Nomad Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
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