Showing posts from May, 2017

Bistro Food Journey, Ma Wan, Hong Kong

Always happy to give a plug to a local restaurant. These guys do pretty good breakfasts apparently. Go check them out!

Located at no 13 Tin Liu New Village, Ma Wan, HK. (If you are new to Ma Wan, just ask a local where the "New Village" is.

Phone 62960207

How to get property valuations from Hong Kong banks for mortgage purposes

All the major banks in HK offer indicative valuations of properties in HK. These valuations can be helpful as a guide of how much a bank is prepared to lend, based on their assessment of a property's value.

Some banks are more aggressive than others, so if you are seeking a bank that will maximize its lending to you, it is worth shopping around a little. Some banks may be more flexible, such that if you need, say a 10% larger valuation they might extend this to you.

Also, almost all the banks lag around 2 months behind the market, as they base their valuations on recorded transactions.

Finally, in a rising market, buyers, at least historically have paid 10-15% "above bank val". My feeling is that for now, the rule of thumb is bank val +5%, though this may rise if the market heats up again.

Some useful links for HK bank valuations below:

Bank of China property valuation

HSBC property valuation

Standard Chartered Bank property valuation

Hang Seng property valuation

Wing Lung b…