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SCMP Reporter

HONGKONG has an abundance of more than willing property agents hungry for business.

  However, to find the perfect flat, be prepared to do some serious walking and bargaining with agents.

  Our brief was set before leaving the office. The flat was to be for an Australian couple earning a combined income of $35,000 a month.

  The couple had been in Hongkong for three weeks, had a car and were looking for their first flat in the territory.

  Our first stop was Heng Fa Chuen, an estate of 50 blocks one stop from Chai Wan on the MTR.

  The estate, which was developed about three years ago, offers a club house with restaurant, gym, swimming pool, sauna, snooker room, karaoke room, function room and child care facilities.

  Unfortunately, the estate is directly under the flight path, which initially makes for some sleepless nights.

  The majority of the two-bedroom apartments in Heng Fa Chuen are $9,500 for about 600 sq ft.

  After viewing six apartments, all of which were unfurnished, it was decided that most of them were plain and small.

  However, with some decorations, books and other homely items, they could be made quite habitable.

  Our second stop was Wan Chai, where agents had many flats available within the $8,000 to $10,000 price bracket.

  One 560-sq ft, unfurnished flat we viewed was $8,800. Unfortunately, the basic fabric of the building was sub-standard.

  The age of the building is most important, not only for aesthetic appeal, but for comfort and efficient plumbing.

  Our third stop was Mid-levels, which had a wide choice of flats from under 500 sq ft to a more-than-ample 1,000 sq ft.

  Rental prices for identical flats varied even before negotiation had begun.

  One apartment viewed in Mosque Road, Mid-levels was quoted at $9,000 a month. At an agency three doors away the same 500 sq ft flat was only $8,800.

  After inspecting 17 flats in the three areas, we chose an 11th floor 596 sq ft unfurnished apartment with mountain views at Heng Fa Chuen.

  It was the only one of the six viewed in the estate that had air-conditioners - one in the living room and each of the two bedrooms.

  At least one air-conditioner is essential, particularly during the humid summer months.

  Air-conditioners should be fitted before you decide to take a flat. Beware of some agents who say the landlord will install them after the lease has been signed.

  An unfurnished flat was chosen, as the fully-furnished ones were normally 15 to 20 per cent more expensive. In most cases the furniture was old and barely functional.

  Reasonably-priced furniture can often be bought from expatriate sales, which are advertised in the classified section of the Sunday Morning Post.

  The next stage, after choosing our flat, was a discussion with the agent about money.

  This southeast-facing flat was available for $9,500.

  However, the agent said it would be necessary to pay management fees of $450 a month, a telephone connection fee of $600 and $2,500 a month to park a car downstairs.

  On top of this, just to move into the flat, there was a $4,750 agent's fee, a month's rent of $9,500 and a $19,000 deposit.

  This meant a total initial outlay of $34,300.

  The deposit represents two months' rent, which is refundable when the lease expires.

  It is crucial that the length of the lease is discussed with the agent.

  Although agents may tell you that the minimum lease is two years, this can be negotiated.

  Generally, it should be possible to get a one-year lease with a six-month opt-out clause.

  If you are planning to stay in Hongkong for a few years or more, it is better to acquire a longer lease to avoid a possible rent review when the initial lease expires.

    Before signing the lease, check the flat is within easy walking distance of public transport and shops.



Flat out in search of the perfect flat