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Real Estate Knowledge

Shenzhen | Observe the trends and risks of China’s real estate market

The recent policy in 2022 will bring a small rise in the second-hand housing market in China’s first-tier cities, but it is followed by news that the rental market in Shenzhen has fallen sharply. Voices online have pointed out that rental prices have fallen back to where they were four years ago. In addition to Shenzhen, many cities such as Luohu and Futian are facing the phenomenon of falling rents. Many netizens make judgments from the macroeconomic and policy level, but we can directly understand the future trend of China’s rental market from the relationship between supply and demand.

Shenzhen

Base on China Market Overview | Which counties affected the most? when we released it last time, we can see that Shenzhen has always been a popular city for young people, because compared with other big cities such as Beijing and Shanghai, Shenzhen has a low landing threshold, which has created a large influx of young people. Shenzhen is looking for opportunities, and it is true that due to the epidemic, a large number of people have lost their jobs. The relatively high-quality young people have accumulated enough wealth to buy a house in the past two years, while some young people who are unable to get a car have become the so-called “floating employment population”, and even renting has become a difficult thing.

At present, there are only two ways for investors who still hold Shenzhen real estate for investment to withdraw cash.

1. Reduce rents so that the floating population can afford to rent houses.

2. Put it on the market and let other capable investors buy the house.

However, how much does the rent reduction need to be in order to balance each other’s needs? At present, the market for selling second-hand houses has become more difficult, and even if they are successfully sold, it is difficult to convert them into international currencies such as US dollars.

How can we observe the future trend of China’s housing market from Shenzhen?

In the future, China’s first-tier cities will be more focused on absorbing new laborers, such as the “floating employment population”, who will be engaged in alternative jobs, which will lead to a further decline in the labor force. The property market in second- and third-tier cities and below will face a downturn, while first-tier cities will see a spike in housing prices. At the same time, the first-tier cities see the rise of the “mobile employment population”, who will also be engaged in alternative jobs, and one day in the future, they may be replaced by machines. At that time, they will lose their source of income and will not be able to continue renting, which will further cause the rental market to decline, causing China’s property market and rental market to face a polarized situation.

To sum up, from the perspective of the next 30 years, China’s overall housing prices will rise slowly, which will keep pace with the rate of inflation. It will not witness dramatic annual rises as in the past. In the future, housing prices will rise by 4%-5% a year. Yes, but the mortgage interest rate will be higher than this price increase. For real estate speculators, it is a stable investment channel. However, in the next 2-3 years, housing prices will still move sideways or even fall. First, the global economy will be dragged down. Second, the current inflation will be much higher than in the past few years, so only the housing prices in core cities and core areas will be firm or even strong. More and more real estate owners will have to cut prices or stagnate them for a period of time. But what is certain is that in the future, China’s housing prices will not have such a period of skyrocketing as seen in 2010-2018, but there will also be no plummets. In addition to paying attention to China’s real estate market, we should also focus on overseas markets. We will continue to update the latest news of real estate at home and abroad.

Whatever is your preference, Denzity is here to help you make a better decision. Our Portal lists many overseas properties managed by trusted real estate companies all over the world. If there is a place to find your dream home this would be it! Watch out for upcoming videos that will take a deeper dive into the area. 


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Real Estate Knowledge

The UK’s most and least affordable cities

Housing prices in many UK cities are relatively high, which may be unaffordable for those who work there. The UK’s largest mortgage lender, Halifax, released the UK house price data for November. The average house price in the UK in November this year was 252,235 pounds, an increase of 8.2% compared with the same period last year. In addition, the Halifax survey looked at the average salaries published by the Office for National Statistics and compared them with local house prices, showing the differences in house prices and salaries between the north and south of the UK.

The survey found that the average salary of people who lived and worked in the same city rose by 2.1 per cent to £35,677 last year, while house prices rose by 10.3 per cent to £287,440. Let’s take a look at the cities where UK residents have the highest and lowest house prices.

Most affordable cities

The Halifax survey shows that the most affordable cities in the UK are all in the north, with six in Scotland. Traditionally the typical benchmark “income multiple” available in the UK is about 4.5 times salary.

Topping the list is the Northern Irish city of Derry, also known as Londonderry, for the third year in a row. The average salary of locals is 33,000 pounds, and the house price is less than 156,000 pounds.

Three cities in the north of England made the top 10, Carlisle in the north west and Bradford and Hull in Yorkshire. Carlisle and Bradford, who came in second and third, both had an average salary of £34,000 and house prices of £163,000 and £164,000 respectively. Home prices in both cities are about 4.8 times salaries. Hull’s average salary is relatively low, only 27,000 pounds, and the local house is also very cheap, only 156,000 pounds, the price is second only to Londonderry at the top of the list.

Scottish house prices are slightly lower, with Stirling, Aberdeen, Glasgow, Perth, Inverness and Dundee in Scotland. The average house price in the top five cities is around £360,000 to £380,000, with residents earning an average salary of £34,000 to £39,000. It’s worth noting that house prices have been changing in recent years, with Carlisle and Aberdeen being more affordable than they were five years ago.

Scotland’s Inverness is  in seventh place. Ten years ago, the city known as the “capital of the Highlands of Scotland” was a hotspot for buying a home, with house prices rising by 148% between 2001 and 2010. A quarter of the Scottish Highlands population lives in or around the city. According to reports, the quality of life here is very high, even claiming to be the city with the highest quality of life in Scotland.

The 10 most unaffordable cities

The ten most unaffordable cities are undoubtedly popular hotspots, such as Oxford, Cambridge or the commuter cities around London. Housing prices in these cities are more than ten times the average salary of local residents.

Winchester in Hampshire is currently the least affordable city in the UK, with an average house price of £630,000 and an average salary of £45,000. It would take 14 years for people to buy a house without eating, drinking or paying taxes. Many local residents live in Winchester but commute to work in London.

Winchester beat Oxford to the top spot this year. In addition to the beautiful countryside and proximity to London, the villages surrounding the city have thriving communities, with pubs, coffee shops, restaurants, and cultural venues all within walking distance.

Oxford came in second due to transport problems, with an average salary of £39,000 and an average house price of £487,000, 12.4 times the salary.

Truro (third) and Bath (fourth) in south-west England and Chichester (fifth) in south-east England have house prices around 12 times the income of local residents. Cambridge, which has another famous university town, came in sixth, with an average salary of £40,000 and a house price of £482,000.

South East England’s Brighton & Hove, St Albans and Chelmsford also made the top 10. Among them, the average salary of St Albans residents can reach 59,000 pounds, but the local house price is more than 600,000 pounds. Greater London came in eighth. The average local salary is £51,000 and the house price is £595,000.

Summarizing the survey results, the affordability of real estate in the north relative to the salaries of locals is significantly higher than that in the south. The survey published by Halifax found that house prices in the UK are now eight times the average local salary, up from 5.6 times a decade ago, leading to the conclusion that house prices generally continue to outpace salary growth . Therefore, property buyers who are interested in overseas investment should buy properties in the UK according to their ability.

UK related information:

  1. UK Property Market Update 2022|Will the housing market crash?
  2. Help to Buy | The UK government helps you get a property with 5% down

UK local information:

  1. Salford
  2. Liverpool

Whatever is your preference, Denzity is here to help you make a better decision. Our Portal lists many overseas properties managed by trusted real estate companies all over the world. If there is a place to find your dream home this would be it! Watch out for upcoming videos that will take a deeper dive into the area. 


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Real Estate Knowledge

The UK Education|How do Schools Impact Real Estate Investment?

Today, we’ll share with you the relationship between real estate and education in the UK. What is the UK education system? How does it play a role in wealth & social inequality? And what is its impact on your home-buying decisions?

Watch the video above to benefit from a detailed dissection. Here’s a quick summary breaking down the key take-aways.

THE UK EDUCATION SYSTEM – SOME FACTS

In the UK, you can draw a very distinct line between access to an amazing education and a not-so-good education. And that line is drawn between independent and state-funded schools.


Here are some eye-watering figures:

  • Private schools charge an average fee of 146,000 HKD/year, not including boarding
  • Only 6-7% of the UK population can afford to attend private schools
  • Families that have access to private education usually belong to the top 5%, making at least 1.2 million HKD per year
  • Privately-educated individuals dominate prestigious jobs – making up 68% of top barristers, 74% of senior judges, and 71% of senior officers

WHAT CAN YOU DO TO GET INTO A GOOD SCHOOL?

There’s not much you can do besides being lucky enough to be born into the right family that can afford to live in the right district. Even when it comes to public schooling, the state school allocation system works in a way that prioritizes children who live closer to the school. Among state schools, property prices are higher near outstanding schools, around 8% higher near primary schools and 6.8% higher near secondary schools. 

KEY STRATEGY – INVESTORS

The mantra is “Base price low, but high potential for growth.”

For example, renting in London, where the average rent level is high, costs around 15, 121 HKD but rental return rate only comes to 2.9%. Whereas, Liverpool with lower rent levels has a return rate of 4.62%.

Do your research and find locations with emerging private schools. Private schools show larger prospects of becoming more prestigious, which is sure to attract lots of rich parents. After all, 19% of potential property buyers in the UK prioritize being in the catchment areas of high-rank schools!

KEY STRATEGY – HOMEBUYERS

Look into Regeneration areas (check out our videos on the topic here and here) and plan ahead for your children! These developments hold a lot of potential for future growth and both public and private investment, with prestigious schools and universities sure to be part of the influx. Be sure to also check out places like Salford and Liverpool.


Make the Right Decisions

Evaluating where you purchase property is really dependent on your budget and your priorities. The biggest tip we can give you is to do the math.

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The UK Immigration|Why the UK welcomes Hong Kongers on board

In a time where the political situation in Hong Kong is unstable, it is understandable that a lot of citizens have the desire to leave Hong Kong in hopes of living a life that is more liberal such as the UK. However, there are also many worries about immigration, for example, fear of not adapting, not being valued, becoming second-class citizens, etc. With the recent emergence of brexit, some even speculate that xenophobia is still an unspoken truth that lies within the UK. . 

And to be honest, the apprehension that you may have is completely warranted. Immigrating to a different country is intimidating, you’re leaving your friend group behind, quitting your job, eating different food, and even immersing yourself in a culture that could be drastically different from what you’re used to. 

Historical connection

After almost an occupation that lasted a century long, it should come as no surprise that Hong Kong had become a completely different city. One that had Chinese and British characteristics in it, which is why even after the return to our mainland, the transition was rough. Citizens had already become accustomed to the British ways, which is why the imposing of certain laws from China has become such an issue. 

Now that we know Hong Kong’s historical context, let’s talk about Britain. On 31 January 2020 , Brexit happened. The xenophobia exhibited in Brexit was only a byproduct of nationalism, a sense of pride for one’s country. The thing is, the British were afraid that the native culture would be imposed upon with the addition of strong nationalists from other countries. However with Hong Kong this is different in a lot of ways. 

Due to the change in perspective that the Hong Kongers were able to experience through the occupation, Hong Kongers have a profound respect for the UK. This is something that we can see in a lot of things, 25% of students that study abroad go to the UK, 26% of immigrants go to the UK, Cha Chan Tengs (chinese restaurant) were inspired by the cohesion of British and local cuisine. No matter what people are considering, the United Kingdom is always the top choice. 

By the end of the day, this type of respect and admiration for the UK’s culture is something that local citizens can see. Instead of seeing Hong Kongers as cultural invaders, most British citizens enjoy the company of Hong Kongers and can relate to them easily, this type of bonding cannot be found anywhere else other than in Hong Kong. Which ultimately makes you a desirable immigrant. 

Government view

“Hong Kong immigrants are likely to be from the middle-class, professional background, who would either be bringing in enough money to have early retirement or they will be coming in as very industrious, entrepreneurial workers,” says Tsang. 

It also shows why the British government welcomes Hong Kong people to join. Granting British citizenship to Hong Kongers can also increase labor force and economic capacity. By the end of the day, what the British government wants is to increase their country’s national strength, one of the methods being their financial ability, and granting Hong Kongers with a British citizenship is definitely a way to achieve that. From a financial standpoint, the difference between Hong Kongers and traditional immigrants from the EU is that Hong Kongers not only have the ability to support themselves, but also the ability to better their economy. 

Citizens view

The British citizens believe that the United Kingdom has the responsibility to grant Hong Kong people the right to live in the United Kingdom, which they say defends democracy and freedom. Some British people believe that the safety of Hong Kong people is threatened, and they welcome Hong Kong people to work in the United Kingdom.

The British believe that Hong Kong people are decisive, efficient and steady, and they are good working partners. When Hong Kong people arrived in the UK, they were integrated very quickly, and soon they could become members of British society and help the UK progress.

Conclusion

In the light of British history, the government’s perspective, and the views of British citizens, we believe that the UK government welcomes Hong Kong people to join them. We understand that it takes courage to immigrate, and with adequate research, your confidence will be boosted. We will regularly publish relevant information in the UK, such as Salford, Liverpool etc., to help you choose the right choice.

Whatever is your preference, Denzity is here to help you make a better decision. Our Portal lists many overseas properties managed by trusted real estate companies all over the world. If there is a place to find your dream home this would be it! Watch out for upcoming videos that will take a deeper dive into the area. 


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Real Estate Knowledge

Help to Buy | The UK government helps you get a property with 5% down

Since April 1, 2021, the British government has implemented a new Help to Buy homeownership assistance policy, which aims to help legal residents in the UK, especially young people who are first-time homebuyers. The program will run for two years, with applications due in March 2023. The policy target is not limited to British citizens, and anyone with a legal residence visa (including BN(O) Visa) can apply.

Help to Buy Program

The Help to Buy (HTB) program is divided into different schemes to suit the needs and circumstances of different homebuyers as below:

  1. Equity Loan
  2. New Buy
  3. Mortgage Guarantee

Therefore, it is important to find out which option is best for you before choosing a Help to Buy program. Among them, the Equity Loan scheme is the most widely applicable home purchase assistance program, so we will focus on it in this article. This policy aims to give appropriate subsidies that help young people to buy their own houses more easily.

“Equity Loan” scheme

This scheme is specifically for first-time buyers with no real estate experience, when purchasing property valued at less than £600,000 (standards vary by region, with a maximum amount of £600,000 in London). By applying for HTB, home buyers themselves need to pay a down payment of 5% of the house price. The government helps homebuyers by providing a housing subsidy, covering 40% of the house price within the London area (20% for other areas). Interest is waived for the first 5 years, and the government will levy 1.75% interest from the 6th year. After that, the interest rate will be adjusted according to the Retail Prices Index every year. Homebuyers have 25 years to repay the loan when the loan term ends or when it is sold.

Applicant qualifications

To apply for the Help to Buy program, the following conditions must be met:

  1. 18 years or older
  2. First time home buyer (never bought any property worldwide)
  3. British Citizen, Permanent Resident or Legal Resident with Visa (including BN(O) Visa)

Restriction of HTB

Although the Help to Buy program is attractive, it has some restriction:

  1. Only for newly completed properties
  2. The total price of real estate in England cannot exceed £600,000 (in Wales, it cannot exceed £300,000). The purchase of a house can only be used for self-occupation and cannot be rented out.
  3. A down payment of 5% of the property value is required
  4. Before selling the house, you must the remaining amount of the Equity Loan to the government (including Interest, etc.)

Before investing, you should fully understand the policies and trends of a country, and then make the right choice. Besides browsing the official UK website to find properties available for purchase with Help to Buy (equity loan), remember to follow us for more information regarding UK real estate.

If you want to invest in UK real estate, remember to follow us for more information. We want to help you make smarter real estate investments. Because before investing, you should fully understand the policies and trends of a country, and then choose the right choice.

As your trusted real estate platform, Denzity is here to help you make a better decision.! Our website features overseas properties managed by trusted real estate companies all around the world, watch our latest videos for more information.


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Hong Kong Immigration | UK vs Canada – Which to choose?

In recent years, the United Kingdom and Canada announced plans to facilitate immigration, inciting many Hong Konger to consider immigrating to these two places. However, many people may be rather unfamiliar with these two countries and cultures. In order to help you make decisions and adapt to a new life, we will compare the differences between Canada and the United Kingdom in terms of weather, hospitality, and entertainment factors.

Weather

The weather in Canada is relatively dry, and the four seasons are distinct. When it comes to dry weather, remember to choose some skin care products with strong moisturizing effects when living in Canada.

The weather in the UK is unpredictable and it rains all year round. The sun could be shining at one moment, and the next minute it may be pouring rain (kind of reminds one of Hong Kong, eh?). Therefore, raincoats and waterproof jackets are a must. In addition, the environment is relatively humid, similar to Hong Kong.

Hospitality

Canada is an immigrant country and features a variety of Asian populations, so it is less prone to discrimination. Moreover, after 1997, a large number of Hong Kong people immigrated to Canada, usually living in Vancouver and Toronto, which are the largest settlements of overseas Hong Kong Chinese.

In comparison, the UK has always suffered from a severe problem of xenophobia. In certain pockets of the community, it can be difficult for Asians to integrate. However, as more and more Hong Kongers have immigrated to the UK in the past few years, it’s becoming easier for them to find their tribe and fit in.

Entertainment

Canada is a vast land with four distinct seasons, and activities are mainly outdoors and related to nature. For example, you can enjoy flower-watching in spring, row boats on the lake in summer, watch maple leaves in autumn, and skii down snowy slopes in winter. Outdoor sports include hiking, basketball, cycling, etc.

In contrast, the UK has a stronger artistic inflection, and there are many cultural and artistic activities for the community to engage in or enjoy. These include visiting museums and enjoying musicals. Unlike Canada, where one finds an emphasis on outdoor activities, the UK can perfectly cater to those that seek to explore their minds indoors.

Conclusion

The UK and Canada each have their own advantages and you should choose the country that suits you based on your lifestyle and preferences. Besides the weather, hospitality and entertainment, there are more factors that you should consider. To learn more about the UK lifestyle, watch Cost of Living 2022|The UK vs. Hong Kong.

Whether or not you choose the UK or Canada as the next place to look for an overseas property, we hope these points help clarify what aspects of a country you should be clear about before investing in property. There is no one size fits all answer. 

Whatever is your preference, Denzity is here to help you make a better decision. Our Portal lists many overseas properties managed by trusted real estate companies all over the world. If there is a place to find your dream home this would be it! Watch out for upcoming videos that will take a deeper dive into the area. 


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Real Estate Knowledge

China Market Overview | Which counties affected the most?

Through the past years, China tried to tighten housing policies to prevent capital outflow, such as making the process of second hand mortgage loans reasonable. This prevents a large amount of the middle class people from selling their assets in the country to move out to foreigner countries. 

As policies are established, the price of housing in China polarizes quickly, prices of housing start going different directions, but in common, volume in trades drop. First tier cities such as Beijing and Shenzhen continue rising, and second tier cities start to fluctuate, and third, fourth and fifth tier cities face a heavy drop. From the graph below about 2018-2021 10 biggest cities Central business districts second hand housing price rise (%), we can see that Nanjing and Guangzhou City is where the new rich goes, while Guangzhou and Shenzhen City have more young blood flowing in. Cities that might bring your attention are Tianjin City, which has a negative price growth on small and medium housing units; Shenzhen, which is experiencing negative price growth on big housing units, Wuhan, experiencing negative growth from all, and Chongqing, experiencing negative growth on medium and large housing.

Considering geographical and financial factors, we can make some hypotheses on why these cities listed above have such differences in terms of growth in big, medium and small types of housing price.

南京眼】南京互联网,你终于也有春天_小米

Nanjing

As one of the new first tier cities, Nanjing is different from Wuhan and Chongqing. With a special geographical location, mostly low mountains and hills and close to the Yangtze River, it has always been an important political place in Chinese history, so that businessmen or members of the political system would settle in Nanjing. Coupled with the current reduction in mortgage interest rates and the acceleration of bank lending, many investors have also taken action. This explains why Nanjing has such a huge growth in the price of large size housing. 

廣州| 香港旅遊發展局

Guangzhou

The development of Guangzhou could be seen in the eyes of all, in comparison to other first tier cities, Guangzhou has a lower living cost, and the environment is not that competitive, this is unsurprising that it has had steady growth in these three years. 

天津的照片- 天津, 天津地區的遊客照片- Tripadvisor

Tianjin

Tianjin is one of the cities with negative growth of small and medium-sized housing in the past three years, which is in line with Beijing’s poverty alleviation policy. Due to the high housing prices in Beijing, many young people are looking for opportunities to work in Beijing, but because the rent and housing are too expensive, they will rent in cities close to Beijing and Tianjin. In recent years, we can see that young people in Tianjin have decided to return to their hometowns due to factors such as the epidemic, which has led to the collapse of small and medium-sized housing transactions.

深圳開公司| 大灣區、前海創業首選| 公司註冊專家-毅思會計

Shenzhen 

Shenzhen now reflects China’s overall wealth differentiation, with a large middle class and low-income grassroots, so small and medium-sized housing is showing positive growth. The failure to clear customs to Hong Kong has also led to negative growth in housing prices for large units, which can be understood as the wealthy who sold some of their assets and moved to Hong Kong.

Conclusion

Overall, investing in Chinese real estate is now a really risky move, as policies really affect how the trend goes. Whether or not you choose China as the next place to look for an overseas property, we hope these points help clarify what aspects of a country you should be clear about before investing in property. There is no one size fits all answer. 

Whatever is your preference, Denzity is here to help you make a better decision. Our Portal lists many overseas properties managed by trusted real estate companies all over the world. If there is a place to find your dream home this would be it! Watch out for upcoming videos that will take a deeper dive into the area. 


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Market Updates

PropTech 2022: Why invest in PropTech Startups?

Today on Denzity Insights, we talk to HKPTA member James Kwan – executive chairman of Jumpstart Media. He’ll give us his take on investing in PropTech Startups, integrating innovation into your business and how PropTech is going to shape the future.

Watch the video above and stick to the very end to catch every drop of his forward-thinking wisdom! Here we’ve highlighted some points from his most poignant insights.

What to look for when investing in PropTech Startups


James admits that PropTech is a new frontier even when it comes to tech innovation, when compared to areas like FinTech and HealthTech. His premier advice for investors is to connect with real estate developers, property owners and asset managers – people who are on the lookout for a big change in the future. It’s a good idea to align with organizations like Hong Kong PropTech Association to see how the local community can help you and inform you.

Popular tech sectors and innovations; Denzity.io

Why you should invest in PropTech

“Out of any country in the world, I think there’s more reason for people in Hong Kong to look at PropTech,” James asserts. He cites our exorbitant real estate prices as one example. As the times change – with recent trade wars and changing economic stances – it’s important to update your “game”, instead of merely sitting on property.

How PropTech could transform Hong Kong

James believes PropTech has the potential to be a big part of Hong Kong’s tech landscape, especially since players in the property world have the money to invest. Already, things are changing. 

Sanitization Robots by Rice Robotics; K11 Musea

When you walk into K11 Musea, you might spot a sanitization robot by Rice Robotics chugging along; K11 Musea add to that UV lighted elevators, AI mask detection machinery and many other technologies. These weren’t on the minds of investors even just a few years ago, but might be the key to staying competitive globally.

Keep up with the Times

Whether it be investors, property developers, large corporations or entrepreneurs, James’ key takeaway is the importance of integrating innovation into the business unit to keep up with the times and push society forward!

Watch our other episodes on the HKPTA here and here.

About the guest

James Kwan is the Executive Chairman at Jumpstart, an Innovation as a Service (IaaS) company that connects the innovation community globally. He also serves as a board member of the Hong Kong PropTech Assocation. The association consists of a team of professionals, experts and entrepreneurs from various industries such as PropTech, media, Real Estate and Finance. Their goal is to create a collaborative ecosystem that brings together property developers, investors, and emerging PropTech startups. They are dedicated to foster communication, drive innovation agenda within the property industry, and encourage technology-enabled solutions to improve lives, businesses, cities, and the environment.

Contacts:

Website – https://www.hkproptech.org
LinkedIn – https://www.linkedin.com/company/hkproptech/
Instagram – https://www.instagram.com/hkproptech/
Facebook – https://www.facebook.com/hkproptech


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Real Estate Knowledge

What do you need to prepare for pet immigration?

As expected for most people who love pets, they Immigrate with pets everywhere. However, immigration with pets is not the easiest task. There is a lot of paperwork to deal with before boarding your flight and nobody wants to deal with that last minute. Here is a step by step guide on how you can prepare yourself for the UK pet immigration without hassle.

Preparation before booking your flight

Surprisingly, the UK has strict regulation on even the most minute things such as the routes you take when travelling. So always check here to see if the flight you’re planning on booking is approved by the UK government for pet travel. However, during the booking stages of your journey, the people that you would like to check with the most are airline companies, call your respective airline company or go to their website and check with their policies on pet immigration, sometimes they would require separate paperwork that the UK government may not necessarily need, it’s always better to be safe rather than sorry.

Requirements for immigrating

The UK requires you to have the following documents ready for your pet to immigrate:

  1. Complete the pet transfer residency declaration form, which indicates that you do not intend to sell or transfer the pet you plan to immigrate.
  2. Provide a valid health certificate from a registered veterinarian stating that the pet is free from rabies or other diseases 24 hours to 120 hours before entering the UK.
  3. Hold a valid vaccination record to prove that the pet has been vaccinated against rabies at least 21 days before the required.
  4. Implant International Chips for your pet’s microchipping.

If you have any uncommon animals, like rabbit, it is advised that you go to the UK government’s website to check if there are any additional requirements for your pet during the process. 

Training for travel

As pet owners, we always want our pets in the most comfortable positions possible, and I think it goes without saying that throwing one of them into a tiny enclosed space for extensive periods of time would be damaging to their mental health, something that we should try to avoid. Which is why you need to train your pets to get used to these spaces. Purchase the crate that you are planning on using a few weeks beforehand. When first bringing your pet into the crate, put their favourite mat or rug in the crate and keep the door open at all times. The key is to reward them with treats when they are in the crate so that they can begin to grasp the concept of confinement. After a while, try closing the gate for short periods of time so that they can get even more used to the environment, and incrementally increase the periods of time they are in the crate just to more accurately simulate the situation on flight. 

Conclusion

Pets don’t need to be quarantined after boarding a plane to the UK. Pet immigration seems like an impossible feat to a lot of us. However, we here at Denzity want to make this process as convenient as possible. We are sure that this guide would be able to help you miles in your immigration.

Whatever your preference is, Denzity is here to help you make a better decision. Our Portal lists many overseas properties managed by trusted real estate companies all over the world. If there is a place to find your dream home this would be it!


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Categories
Real Estate Knowledge

Cost of Living 2022|The UK vs. Hong Kong

With Hong Kong’s inflated property prices and UK’s affordability on the rise, it is more crucial than ever to budget your cost of living. Which option is cheaper? We’ll be examining housing, food expenses, transportation and taxation to find out!

Watch the video above to take a deeper look at each category with us. Here’s a quick summary of our breakdown.

Housing, Rent & Utilities – Go for the UK!

Using a one-bedroom apartment as the benchmark, we can consider two options.

  1. Rental – on average, it would cost you 17, 800 HKD per month in Hong Kong, 600 dollars less than the 18, 600 HKD you would have to fork up in the UK.
  1. Property Purchase – the average property price tag in Hong Kong is DOUBLE that of the UK at 24, 600 HKD per square ft. compared to 12, 000 HKD per square feet respectively.

However, rent and utility prices in the UK vary largely depending on location. Rent in the city center tends to be expensive, while utility prices in rural areas may be higher as facilities tend to be sparser.

Food, Groceries & Restaurants – Depends on Your Lifestyle!

If you choose to cook for yourself, you’ll spend 65.7% more on groceries in Hong Kong than in the UK as Hong Kong imports most of its meats & greens.

In contrast, almost 70% of British land is used for agricultural purposes so you have a wide selection of supermarkets to choose from, and competition keeps prices down.

2000 to 2016 Local Production of Vegetables in Hong Kong; Legislative Council

But what if you were to eat at a restaurant, an average meal in Hong Kong would cost you only 60 HKD, whereas one in the UK would burn a whooping 140 dollar hole in your wallet.

Transportation – It’s a Draw!

Public transport is almost 40% cheaper in Hong Kong but owning a car is a whole different story.

While vehicle prices are similar in both places, petrol in Hong Kong costs 5 dollars more per liter than in the UK. On top of that, it’s just much harder and more expensive to park in Hong Kong.

Taxation & Hidden Costs – Tied Again!

Hong Kong has one of the lowest taxation rates in the world. The standard salary tax stands at only 15%.

Income tax rate in the UK on the other hand STARTS at 20%, with the ability to go up to 40% or even 45% depending on individual income. 

Tax Bands in the UK 2021 to 2022; gov.uk

The caveat is that Hong Kong has a so-called “Hidden Tax” because what you save in taxation merely bleeds away into payments on expensive rent and housing mortgage costs.

Make the Right Decisions

It’s important to consider your lifestyle and income when making the decision to move to a new country. Watch the video above to get a detailed view!


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