A Guide to Renting Property in Hong Kong
Year on year, Hong Kong is rated as one of the most expensive places to live, and this is something that the people who live, work and rent property in HK have to deal with. As square footage is limited, there are few opportunities for developers to build outwards, and so building vertically has become the norm. Over the years this has completely transformed the Hong Kong skyline, and vast towering skyscrapers now dominate the view from Victoria Peak.
While the expense of living in such a vibrant, modern and multicultural place can make it extremely challenging to find your dream rental property, it certainly is not impossible, and there are some absolutely amazing and characterful rentals you can choose from. Some are even relatively affordable given the market value, as long as you’re willing to make certain sacrifices such as living a little further away from the centre of the action.
Choosing a neighbourhood to call home
One of the most amazing things about living in Hong Kong is that all the neighbourhoods have a unique and distinct flavour and personality. From the ultra cool and modern, to the more traditional and family friendly, Hong Kong really does have something for everyone. The perfect neighbourhood for you depends on your personal tastes and your budget. Some are known for being more affordable than others, and some are much more upmarket and expensive. The trick is being able to find a balance between something you want and something that is practical for your lifestyle and budget.
On the whole, Hong Kong is generally very safe and we couldn’t single out a neighbourhood as being ‘bad’. Crime rates tend to be pretty low all over, and because the modernisation of the region has been fairly recent, almost every corner has a certain shine to it. Though there are many individual neighbourhoods, you can basically divide the region into three: Hong Kong Island, the New Territories and Kowloon.
Hong Kong Island
Long considered the most expensive and exclusive part of Hong Kong for renters and buyers alike, Hong Kong Island is home to the financial centre of the city. If you want to rent a property on the northern side of the island where the business and economical district is located, you can expect to pay top dollar for even a modestly sized apartment.
A property agent will be able to help match you to the right place, but even with their help you can’t expect miracles and will need to budget accordingly. Those who can afford it will be rewarded with an unmatched place to live in terms of things to see and do, bustling nightlife, arts and cultural events, exciting shopping districts and so much more. There are also some excellent schools nearby, and of course, the Island has excellent public transportation links that make it easy to get wherever you are going.
The New Territories
Hong Kong is home to a thriving expatriate community which lives shoulder to shoulder in all corners of the city with native Hong Kong dwellers. For those with families, or those who prefer to be out of the way of the hustle and bustle of the trendy central districts, the New Territories are a wonderful option. Quieter and more spacious, this area has more open air than other parts of the city and is home to a large chunk of Hong Kong’s green spaces.
Here you’ll find plenty of country parks that are open to the public year round, as well as large villas and a more rural way of life. Lantau Island, which is known for its lush surroundings and stunning scenery, falls under this district and is an immensely popular place for those who love a day at the beach.
Kowloon
A more affordable place to rent, Kowloon is home to the area’s working class families and also has a large population of elderly residents. Though it has undergone a lot of change in recent years, the area retains an air of uniqueness and authenticity that is hard to find anywhere else. If you are more adventurous and willing to look beyond the trendier, more expensive neighbourhoods, Kowloon will reward you with some of the best street food and general food culture, and vibrant, traditional markets.