The 5 Cheapest Places to Buy Property in Hong Kong

The 5 Cheapest Places to Buy Property in Hong Kong

When buying property everything will depend on exactly how much space you will require to live in. This has to be kept in mind when browsing for the cheapest Hong Kong apartments to live in. Every family will have different needs and even though people want to live cheaply they still require sufficient space in order to adequately accommodate the family. Nevertheless, there are some who can tolerate substantially smaller apartments if they are closer to the centre.

Here are the 5 cheapest areas to buy property in Hong Kong.

Wanchai

This neighborhood can be found on Hong Kong Island which is in the southern regions of Hong Kong and Hong Kong island has a population of 1,290,000. It is a densely populated area with over 16,000 people living in every square kilometer. Many years ago, during the first opium war when Hong Kong was occupied by United Kingdom there was a proximity 3000 inhabitants which were living in a couple of fishing villages. All of this has changed dramatically and the population has grown tremendously. An apartment in Wanchai can cost US$39,000.

Sai Ying Pun

More than 1 million people live on Hong Kong Island and generally accommodation isrelatively affordable as is also the case in the Sai Ying Pun neighborhood which is in the Western District of Hong Kong Island. As far as administration of the island is concerned this area is part of the Western and Central District. The name Sai Ying Pun is a Cantonese word which actually means Western camp. This mostly refers to a military camp which makes sense because this is the area where the early British military had their headquarters. An apartment in this neighborhood can cost approximately US$38,000.

North Point

Another popular and affordable place to stay can be found in the Eastern District of Hong Kong and this is known as the neighborhood of North point. This neighborhood is located on the northeastern part of Hong Kong Island. The name is derived from a cape which is located between Tsat Tsz Mui and Causeway Bay. From there it stretches in the direction of Kowloon Bay. Several parts of North Point have been occupied since the early 19th century even before the British arrived in the area. In fact, the Metropole Hotel was constructed in 1899 and the Hong Kong Electric company started operations in the region in 1919. An apartment in the area can cost US$37,000.

Causeway Bay

Causeway Bay is where things happen in Hong Kong as far as retail is concerned. This is where you will find department stores, luxury malls and all around the Western end there is boutiques. Likewise, Jardine’s Crescent street market is a very popular place as far as bargain hunters is concerned. As far as the local cuisine is concerned there are numerous options from popular street stalls to upmarket restaurants. Some of the places which is popular when friends want to meet is Victoria Park and Hong Kong central library. An apartment can cost approximately US$37,000.

to Buy Property in Hong Kong

Quarry Bay

You will find this neighborhood more or less directly beneath Mount Parker. It is located on Hong Kong Island in the Eastern District. There was a time when the western portion of this area was known as Lai Chi. For several decades this area has been both residential and industrial area and this is probably why the number of commercial buildings has increased especially during the last 20 years. Apartments can be purchased for approximately US$35,000.