Hong Kong City Property Limited, commonly known as HKC Property is a continuous provider of Real Estate Services in Hong Kong, specializing in the Lease and Sale of Residential Property, serving a diverse range of clients including individuals, corporates and business partners. We market properties throughout Hong Kong Island, Kowloon District, New Territories and Outlying Islands. With strong business networks and partnerships established in Hong Kong, we also possess excellent capabilities in Commercial Property, including Offices, Retail Units and Industrial Property.
Our dedictaed quality management and expert knowledge within the real estate industry have enabled us to become one of the most favoured Real Estate Agent's in Hong Kong. Our Managing Director, Management Committe and majority of our colleagues studied abroad or resided overseas for many years, giving us the perfect bond and understanding for our diverse range of clients and partners.
Company Stucture & Licence:
Hong Kong City Property Limited is an independent and privately owned Real Estate Agency in Hong Kong.
Holder of Estate Agent Company Licence No. C-033578.
Registered address situate at: 4/F, On Fung Building - (SOHO Tower), 110-118 Caine Road, Central, Hong Kong.
Our company's official website: www.hkcityproperty.com
HKC Property assists clientele in Hong Kong to locate the perfect home either in leasing or sale services. We dedicate our full efforts to assist Vendors / Landlords in finding the Perfect Tenant or assist in completion of a smooth Sale Transaction. Our agents are professionally trained in real estate work and understand how to incorporate our clients' requirements into their search for the right property unit.
With the training, professionalism and experience of all our agents, our clientele can trust that all necessary procedures through renting and sales are managed and completed effectively without fault and in accordance with standards set by Hong Kong's "Estate Agency Authority", (EAA). Our agents are able to provide the best advice at all times and manage any situation, including but not limited to:
- Negotiation Processes,
- Encumbrances involved in any particular Property,
- Mortgage information for Sales,
- Ideas and information regarding making particular investment choices,
- Tenancy Laws involved in Hong Kong,
- Effective Sales procedures.
Our agents are not limited to our professional training only. All agents have many years of experience in Hong Kong’s Real Estate market, therefore can provide the most accurate and best of knowledge and information regarding Hong Kong Residential Property. We possess valuable services by acquiring the right communicate skills; including understanding your specific requirements or special needs and dedicate ourselves in keeping our company on top.
With a majority of agents from different countries, our agents recognize the life-styles of our expatriate clients and can therefore accommodate this knowledge into their work. HKC Property staff also work to ensure all possible available listings are found and recommended according to requirements set out by the client and do not stop in apartment searching, property viewing or negotiating until the client is satisfied with the final outcome.
Vendors / Landlords who list their property with us expect we can manage their lease or sales procedures effectively with professional advice and management throughout. Clients who choose us to assist with rentals expect not just standard progress to the signing stage of a Tenancy Agreement, but also assistance with Property Inspection, identifying and informing Landlords of any areas which do not comply with basic standards of living set out in Hong Kong's Common Law.
We aim to set ourselves apart and be recognized as the best Real Estate Consultant and Negotiator in Hong Kong throughout.
It is standard practice that a Tenant is required to be entered into a Tenancy Agreement (TA) with the Landlord of a Residential Property. This is also required when renting most Serviced Apartments in Hong Kong. Most standard Tenancy Agreements today has a two (2) year Lease Term.
However, both parties will usually have the option to break the lease after twelve (12) months by serving two (2) months notice to the defaulting party or two (2) months rent in lieu (minimum stay is fourteen (14) months). Most Tenancy Agreements require the Tenant to pay two (2) months’ security deposit and one (1) month rental in advance upon signing the Formal Tenancy Agreement. Keys are arranged to be handed over to the Tenant thereafter on the commencement date of lease as stated in the Tenancy Agreement, or perhaps prior to the commencement date of lease where there may be a rent free period as stated in the Tenancy Agreement.
Before Tenants officially move into their new home, our agents will proceed to inspect the apartment beforehand to ensure that all furniture, fixtures, fittings and appliances included within the particular apartment are in safe and good working order.
Tenants will usually apply for change of ownership for utilities, including and not necessarily limited to electricity, water, gas, internet and telephone. Our agents are able to assist clients with these, usually through helping to complete the necessary application forms required for each utility / company or through applying online to each relevant utility / company.
The time it takes for a Tenant to receive keys to their new home can vary. Keys are usually handed over after the Landlord has received all the deposits and first Rental payment in advance necessary. If a Tenant has not got all these payments ready at the same time or perhaps prefers to quickly secure their preferred premises in advance, they may prefer to enter into a Provisional Tenancy Agreement first where only one (1) month's deposit is paid to the Landlord.
The Formal Tenancy Agreement (TA) is entered into with the Landlord at a later arranged date after signing the Provisional Tenancy Agreement and when the Tenant is ready with the outstanding deposits. Some Tenants who are more urgent to move into their new home and have all their initial payments ready can skip the Provisional Agreement and jump straight into the Formal Tenancy Agreement with the acceptance of the Landlord. Such standard TA’s can be ready and completed within a very short period of time, therefore not a complication for urgent movers. However Tenants may expect to give a Landlord more time to consider the offer of Rent as they could be faced with alternative offers at the same time or other factors.
Once signed by both parties, the Formal TA requires to be stamped by the Hong Kong Government. Our agents will usually assist in the delivery of the TA to the necessary Governmental Department for stamping and return back an original copy to each party.
Purchasers of Residential Property in Hong Kong will enter into a Provisional Agreement for Sale and Purchase (PASP) with the Vendor. Upon entering this Agreement, 5% of the transaction price is provided. Within 2 weeks after signing the PASP, the Purchaser will sign a Formal Sale and Purchase Agreement (SPA) with his/her solicitor where a further 5% deposit of the transaction price is provided.
After the SPA, both parties’ solicitors will usually require up to one (1) month to complete the necessary paperwork for the Sale and Purchase. When the appropriate time comes, both parties' are expected to sign a contract for Completion and the outstanding balance of the sale price is paid. With no further complications and all monies have been received by the Vendor successfully, keys are handed over to the new Landlord at an arranged time.
Solicitors are expected to guide Purchasers throughout the Sale and Purchase process including instructions or assistance in Mortgage issues and ensuring that the Property is not subject to any means of un-acceptable Encumbrances, Illegal Work / Structures or Bad Title.
It is useful to understand that prior to signing the PASP, the property agent should and has responsibility to confirm if any Encumbrances or Illegal Work / Structures exist for the Premises through providing a copy of an updated Landsearch for the relevant premises.
Most viewers of our HKC Property website include our expat clients searching for Residential Property throughout Hong Kong. A majority will be expats who may have lived in Hong Kong for many years already whilst others will be completely new to this city with no ideas on the best places to go to for Fine Dining, Renovation Services, Buying Furniture, Sports and Leisure or General Family Events etc.
Other viewers will include the locals of Hong Kong, not limited to those who also require assistance in Residential Property but also the majority of local Landlords who visit our website to List Their Premises with us online. HKC Property therefore attracts a diverse range of viewers from different backgrounds, communities and professions, meaning our website could be an attractive place to advertise your company, products or services.
HKC Property welcomes a diverse range of companies to Advertise With Us. If you think your company would benefit by becoming our Friend, please do not hesitate to contact us. We will evaluate your website to see if it fits with ours. We also offer Links Exchange with the right websites and we will add these into our directory.
We also have banner space on the bottom right hand side of our website. This is a great place to advertise a business. Only a very small fee is applicable for this banner space. Please contact us for details.
Indeed we can.
HKC Property has fully qualified and professional Interior Designers highly recommendable on-board. They provide Landlords the opportunity to give their property an entire make-over whilst catering to individual requirements and taste of the consumers. Please check out our 'Renovation and Furniture' section to view examples of our Designer Friends past projects.
With enough manpower and capacity, our Designers are thrilled to work on projects of any size, ranging from tremendous interior renovation for whole building blocks to small studio apartment units. They provide home owners the chance to make a real difference in Living in your Home.
Home owners who would prefer to lease out their Property will find our Designers' to be full of admirable expertise, understanding your interests in attracting good Tenants and improving Lease Terms for your individual apartment. As a result, they also provide the upright budgets in order for you to achieve your investment goals. With our designers' involvement with many different types of requirements and Design Specs, they understand which standards and styles work for your desired Tenant in mind.
HKC Property has also partnered with a Custom-Making Furniture Factory located in Mainland China. It is our greatest pleasure to be able to introduce and provide to you the services of Custom-Made Furniture of your desire. Just e-mail us a photo of the furniture of your desire and we will ask our Friend to duplicate it to the highest standard and deliver safely to your door step. Please do not hesitate to contact us for further details.
By Listing your Property with us, you will further increase the exposure of your Property to Potential Tenants or Purchasers in the Hong Kong Property Market. Even if your Property is Leased, we can further expose your Property to our investment clients' who have the potential to Purchase with Lease.
Landlords and Property Owners understand that Listing With Us is not limited to aimlessly finding them the perfect Tenant or Purchaser. They understand that with our topnotch diverse range of clients and expertise, owners will further find our engagement process to be professional with divine management and full attention to all aspects of detail involved.
New Information will be posted soon about Stamp Duty Rates for SALE or TRANSFER of Immovable Property in Hong Kong. The below information is for reference only and the reader is responsible for checking with more updated information from relevant governmental website(s) or department(s).
With effect from 1st of April 2010, the Stamp Duty on the Sale of Immovable Property in Hong Kong is charged at rates which vary with the amount of value of the consideration as follows:
(Where the Stamp Duty calculated includes a fraction of HK$ 1, the duty should be rounded up to the nearest HK$ 1).
On Sale or Transfer of Immovable Property in Hong Kong:
Amount or value of the consideration
Does not exceed
$100 + 10% of excess over $2,000,000
$45,000 + 10% of excess over $3,000,000
$90,000 + 10% of excess over $4,000,000
$180,000 + 10% of excess over $6,000,000
$20,000,000 $21,739,120 $750,000 + 10% of excess over $20,000,000
With effect from 1st April 2010, Stamp Duty on Lease of Immovable Property in Hong Kong is charged by using the following rates:
Not defined or is uncertain
0.25% x of the yearly or average yearly rent
Does not exceed
0.25% x of the total rent payable over the term of the lease
0.5% x of the yearly or average yearly rent
1% x of the yearly or average yearly rent
Key money, construction fee etc. mentioned in the lease
4.25% of the consideration if rent is also payable under the lease. Otherwise, same duty as for a sale of immovable property
Duplicate or counterpart
Note: The yearly rent or average yearly rent or total rent has to be rounded up to the nearest HKD 100. (Any deposits mentioned in the lease are not to be taken into account of in calculating the stamp duty payment).
YES, we do.
Due to privacy issues which most individual Service Apartment managements and organisations have, we currently do not actively display Service Apartment listings on our website with photographs.
However our agents DO actively serve to help our clientele find Service Apartments throughout Hong Kong. Please Do Not Hesitate to make an enquiry with us regarding searching for Service Apartment and with any other requirements you may have.
Information on anti-discrimination ordinances can be found through the 'Equal Opportunities Commission' in Hong Kong.
Anti-discrimination ordinances can be important where Property Agents and Landlords can be liable if they violate the anti-discrimination ordinances in the provision of goods, facilities and services or in the disposal or management of Premises. As a Tenant or a Home Buyer, it can also be important for them to understand their rights under the anti-discrimination ordinances and the channel for redress if they have been discriminated against on any of the prohibited grounds. This information is directly available from the 'Equal Opportunities Commission'.
In order to promote good business practice and continous professionalism within our property service work, it is mandatory that all staffs and agents at 'HKC Property' understand and adhere to the anti-discrimination ordinances.
For more information, please visit the 'Equal Opportunities Commission' official website at: http://www.eoc.org.hk.
Vendor (where applicable): 1% of total sale price.
Purchaser (where applicable): 1% of total sale price.
Landlord (where applicable): 50% of 1 month's rental price.
Tenant (where applicable): 50% of 1 month's rental price.
Please do not hesitate to contact us with any questions or further enquiries regarding our real estate agency fees.
SPECIAL STAMP DUTY (SSD)
The Stamp Duty (Amendment) Ordinance 2011 (SDAO), deemend to have been taken affect from 20th November 2010, imposes a Special Stamp Duty on transactions of residential property acquired on or after 20th November 2010 and disposed of within 24-months from the date of acquisition, and cancels the arrangements under the Stamp Duty Ordinance (Cap.117) (SDO) for the deferral payment of stamp duty chargeable on agreements for sale of residential property valued at HKD 20 million or below.
CALCULATION AND RATES OF SPECIAL STAMP DUTY (SSD)
SDD payment is based on the amount of the consideration for the transaction or the market value of the property in concern, whichever is higher, at the following regressive rates within the following periods beginning on the date of aquisition:
When date of disposal is within a period of 6 months, the rate is 15%.
When date of disposal is after the expiry of a period of 6 months but within a period of 12 months, the rate is 10%.
When date of disposal is after the expiry of a period of 12 months but within a period of 24 months, the rate is 5%.
(For information on what is Special Stamp Duty, please refer to Question 15 in this section).
Both the Vendor and the Purchaser are jointly and severally liable for the payment of the Special Stamp Duty (SSD).
The real estate agent should help to advise their clients to agree on which party (ie. the Vendor or the Purchaser) pays the SSD payment and clearly specify this in the Provisional Agreement for Sale & Purchase (PASP).
In the event it is agreed that the SSD payment (or any part thereof, as the case may be) should be paid by the Vendor, we would recommend our clients to specify any necessary arrangements in the PASP, (such as having the Purchaser's solicitor withold part of the purchase price for payment of the SSD).
We also recommend that any Vendor and Purchaser should seek legal advice, if necessary before proceeding with the execution of a PASP.
EXEMPTION FROM PAYMENT OF SPECIAL STAMP DUTY (SSD)
SSD will be exempted under the following cases:
a)Nomination of the spouse, parents, children, brothers and sisters to take up the assignment of the property and the sale or transfer of the property to spouse, parents, children, brothers and sisters.
b)Addition or deletion of name(s) to or from a chargeable agreement for sale or Assignment if the person(s) added or deleted is the spouse, parents, children, brothers and sisters of the original purchaser(s). c)The sale, transfer or vesting of properties made by the courts or pursuant to court orders (including the compulsory sales order made under the Land (Compulsory Sale for Redevelopment) Ordinance (Cap. 545), and the foreclosure order made to a mortgagee, irrespective of whether the mortgagee is a financial institution within the meaning of section 2 of the Inland Revenue Ordinance), and the property was sold to or transferred to or vested in the seller by or pursuant to any decree or order of any court. d)The sale of mortgaged properties by a mortgagee which is a financial institution within the meaning of section 2 of the Inland Revenue Ordinance, or by a receiver appointed by such a mortgagee. e)The sale of the estate of a deceased person by the personal representative, and the sale or transfer of a residential property by a person whose property is inherited from a deceased person’s estate or is passed to that person under the right of survivorship; f)The sale or transfer of properties between associated body corporate; g)The property sold relates solely to a bankrupt's estate or the property of a company which is being wound up by the court by reason of its inability to pay debts; h)Sale or transfer of properties to the Government.
Since May 2012, the Estate Agent's Authority (EAA) issued Practice Circular No. 12-02, which states that it is mandatory for Hong Kong real estate agents to provide the Saleable Size of its property listings, effective from 1st January 2013. Furthermore, the Gross Floor Size of a property can no longer be used on its own unless the Saleable Size cannot be obtained from both the Rating and Valuation Department (RVD) and the Land Registry together.
As a result of the above, each property listing page on our website displays the Saleable Size of the given property, listed under the heading "Saleable Size (unless otherwise stated below)". Please note that when the Saleable Size cannot be obtained, the Gross Size is mentioned and confirmed under the "Property Information" section of the property listing page.
When only the Gross Size is available for any particular property listing, we would proceed to re-obtain the Saleable Size with the RVD and provide this to any interested customer(s), prior to signing any lease or sale and purchase agreement. In the event the Saleable Size of any property cannot be obtained from both the Land Registry and RVD, this will also be communicated with the customer(s) in advance.
Should any individual have any further queries regarding the above, please feel free to contact us using our "Contact Us" page.