It's hard not to have heard about the great results the Chinese real estate market has seen in recent months. Sale prices for residential real estate have risen in many parts of the country, making property a very attractive option for investors.
But alongside cities such as Guangzhou, Beijing and Shenzen, Hong Kong has had its fair share of strong property market activity in recent times.
Known for its thriving business centres, sky-high buildings, vibrant nightlife, bright lights and millions of people, Hong Kong holds many lucrative investment opportunities for those who seek them.
With Ray White Group recently opening its doors in Eastern Hong Kong's Causeway Bay, it is easier than ever to find help with buying a property in this rapidly developing city.
Located in a market that's dominated by China's tourism industry, Causeway Bay and the surrounding regions have much to offer any savvy buyer of commercial or residential real estate.
Strong price growth in Hong Kong
Figures from the Rating and Valuation Department of Hong Kong identified strong growth for prices in the secondary market during the first quarter of 2013.
Despite a slight cooling toward the end of 2013, prices still remained at a strong level at the start of 2014 compared to the same time in the previous year. In other figures from the Rating and Valuation Department, Hong Kong's price indices for private domestic dwellings reached 255.6 in July.
Rents have also followed house prices and risen throughout 2013, showing strong potential for property investors.
High rate of development across the city
Hong Kong is a rapidly developing suburb. Not only is it a hotspot for businesses to operate and workers to find employment, but its property market is also something to watch.
The Rating and Valuation Department says that despite unit completions suffering a slight dip over 2013-2014, these figures should get back on track and rise significantly over 2014 and 2015.
Over 2014, it's forecast that unit completions will reach 17,610. The majority of this development is predicted to be in the New Territories, but a significant 18 per cent will occur on Hong Kong Island.
With more housing on the way, this will present many opportunities for investors to get their foot in the door to this lucrative property market.
Buying real estate in Hong Kong
Investing in residential or commercial real estate requires a lot of skill and research. Fortunately, the team at Ray White Hong Kong is here to help you throughout the whole process.
Operated by James Li, who has had years of experience in the US and Japanese markets, you'll find the right support you need for buying or selling property.
James's attitude and approach to property means he delivers fantastic results for all of his clients, no matter what their goals.
