Month: May 2022

Moving to a new country is the first in a long mountain of steps you take towards buying your first house there! This is the beginning of a series where we break down your property journey, starting with immigration!

We will cover 3 pathways to PR for both students and working adults, with some added professional advice from featured guest, John – migration consultant and founder of John Hu Migration Consulting (find his contact information at the bottom of this article!).

You might be wondering – Why Australia?

Recently, Australia has added special upgrades benefitting BNO or HK passport holders. Temporary subclasses 500, 485 and 482 guarantee you a five-year stay, while subclasses 189 and 191 are newly designed to ease the passage to PR for Hong Kongers!

Pathway 1: The Education Route (500 -> 485 -> 189/191)

First, get the student 500 visa. Here’s the criteria:

• Be 6 years-old or above
• Get accepted by a course of study in Australia
• Provide documents for an assessment of your health
• Provide evidence of your English skills through a test done within the last 2 years

When you’ve completed your studies and graduated from a CRICOS-registered course, you can apply for the Temporary Graduate Visa (485). With this post-grad work permit, you can get a job and earn enough points to stay behind for permanent residency!

Important Note 1: you cannot directly apply for the Temporary Graduate Visa!

Important Note 2: you must apply for the 485 visa within 6 months after graduation. 

Pathway 2: The Education Route (482 -> 189/191)

If you’ve been working for a while, you should consider subclass 482 – the Temporary Skill Shortage visa. According to John, if you have enough points, you’ll be invited to apply for permanent skill migration.

Requirements are as follows:

• Get sponsored by an employer for a…
• Job found on the TSS 482 Occupation List
• Have at least 2 years of experience in the chosen field
• Pass English language tests

Tips from John: If you’re in the age range 25 to 30, you can gain the highest points of 25, and a maximum of 20 points for language with an IELTS score of 8-9.

Here’s an additional question:

The Final Leg: Hong Kong PR Streams (500 -> 485 -> 189/191 or 482 -> 189/191)

Here are the two following Hong Kong Streams to apply for permanent residency. 

Skilled Independent Visa (Subclass 189)

• allows you to live and work in Australia permanently
• You must have spent 4 years in Australia prior to applying

Permanent Resident (Skilled Regional) Visa (Subclass 191)

• Faster route; live exclusively in a designated regional area such as the Gold Coast and the Sunshine Coast for 3 years prior

Benefits

• Does not require points test, career assessment, and English test
• Allows eligible family members to migrate for permanent residence 

03. Pathway 3 – Skill Professional Teleportation (GTI Visa)

According to John, the Global Talent Independent Visa has been the most popular visa amongst Chinese immigrants in the last 6 months, especially since it is a direct PR visa that takes about 6 months to get.

To be qualified, you must be:

• internationally recognised in one of the following ten sectors
• have an annual salary of over  900, 000 HKD. 

In 2021-2022, there are a total of 15,000 places available.

Up Next!

We continue to ask John some commonly asked questions, so watch till the end to benefit from his insights. Otherwise, stay tuned for the next episode, where we will analyze the best places to live in Australia – from a home buying and investing perspective!

Reach out to John for migration consultancy services through email (enquiry@johnhu.com.hk), Facebook, Linkedin or watch his videos on Youtube.

To learn more about Australian visas, check out our other articles here and here.

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Property investment is a long-term game and planning is the key. Watch more videos for a better decision!

To receive more property information relating to the UK, Canada and Hong Kong, sign up to our newsletter at the bottom of this page.

More on Australia related information:

1. Australia | 2022 Australian immigration new policy conditions one by one
2. Australian government assists 300,000 Australians to buy property

Base on Location:

1. Brisbane | The place full of opportunity but little recognition

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# Disclaimer

“How much salary do you need to afford a house?” I believe every buyer has had this question. So, what kind of house can you buy with your current salary and savings? In other words, what kind of house is suitable for you to buy today?

Buy a home based on your current financial means, not your future income

Life changes are hard to predict, especially when it comes to financial situations. Your income may finally improve after a long period of hard work, but it may also deteriorate due to some unexpected event. Give this some thought: what should you do if you encounter a sudden situation, such as the latest, which causes you to be laid off or your business income to plummet? Therefore, if buying a house is your goal now, then it is recommended that you give priority to those properties that you can both afford and can meet your basic living needs.

What is the 3-3-5 rule of real estate?

You may ask, apart from the cost of buying a house, are there any formulas on the market for calculating how much money should be spent on buying a house? The answer is yes!

In Singapore, there is a very popular “3-3-5 rule”, which is a house buying rule approved by the Singapore Provident Fund (CPF).

The so-called 3-3-5 rule is actually what people must consider before buying their first real estate:

• 3 — You should have at least 30% of the purchase capital of the property
• 3 — Your monthly mortgage payment should not exceed one-third of your monthly salary
• 5 — The property price should not exceed 5 times your annual income

How can you use the 3-3-5 rule to calculate your home buying ability?

As long as you list your monthly income, annual income and current savings, you can easily calculate your home buying ability through the 3-3-5 rule.

Why use the 3-3-5 rule to calculate your home buying ability?

The 3-3-5 rule is just a guide to make sure you don’t buy a home beyond your means.

Many times, people will overestimate their future spending power, which is very dangerous. In terms of buying a house, many buyers will only pay attention to whether their bank account has enough money to pay the down payment, stamp duty, lawyer fees and other expenses, ignoring the long-term financial burden after buying a house.

At this time, the 3-3-5 rule can help you calculate your current ability to buy a house:

• Rule 1 – Make sure you have enough savings to cover the down payment and other expenses of buying a home
• Rule 2 – Make sure you have a healthy monthly salary to cover your mortgage installments
• Rule 3 – Make sure the price of the property does not exceed your financial means

But we want to stress that the 3-3-5 rule is just a guide, so don’t get too hung up on the ratios of these numbers.

For example, if your current financial burden is heavy, you can focus on increasing your income or reducing your debt first, and then slowly adjusting your financial situation in the direction of the 3-3-5 rule.

All in all, compared to those high-end houses that are too large and expensive, when buying a house for the first time, I would rather buy a house with just enough space and a house price that I can easily afford. You must know that a cheap house can be sold after appreciation in the future, and then the profit from the sale can be exchanged for a larger house. On the contrary, if you buy a house that you can barely afford at first, then in the event of sudden unemployment or a sharp drop in income, you are likely to face bankruptcy and the house will be foreclosed by the bank. It would then be too late to even regret it.

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Property investment is a long-term game and planning is the key. Watch more videos for a better decision! 

To receive more property information relating to the UK, Canada and Hong Kong, sign up to our newsletter at the bottom of this page.

Malaysia investment information:

1. Malaysia | Why you should Immigrant in Selangor
2. Immigrate to Malaysia | Lower housing costs are the best choice for Hong Kong residents

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👉 LinkedIn: https://www.linkedin.com/company/denzity 

# Disclaimer

Previously, we had talked about how to convert a leasehold property into a freehold property? Today, Let us explain the differences between a freehold and a 99-year leasehold property!  This article will also explain the purpose of purchase, the appreciation potential and other aspects, as well as the factors you need to consider before buying!

What is Freehold Real Estate?

The property rights of freehold real estate belong entirely to the owner, and the government cannot interfere at will. The most obvious examples are bungalows, private apartments and condominiums.

In the case of terraced houses or bungalows, the developer who owns the master title of the land will transfer the property rights to the owners of the individual units after the houses are built.

As for apartments or other high-rise residential buildings, the developer will transfer the property rights of each unit to the respective owners through strata title, and the ownership of the land will remain in the hands of the developer.

What is leasehold Real Estate?

This type of real estate only allows the owner to own the real estate for a certain period of time, and this period is generally 30 years, 60 years, 99 years or 999 years (the 999 case refers to some landed houses in Sabah or Sarawak). There are also lease terms of 50 years, such as District 11 in Petaling Jaya, and some places in Kuala Lumpur.

Compared with leasehold houses, leasehold real estate has many restrictions on property rights. At the same time, the owner must also assume the responsibility for maintaining the real estate in accordance with relevant land laws. If the state government finds that the landlord is in breach of or not fulfilling their legal responsibilities, the landlord’s tenancy security may be affected, and the state government can even take the property back as a reason.

Which is better, freehold or 99-year lease?

In fact, when choosing a freehold or leasehold real estate, the most important factor to consider is the buyer’s affordability and needs. When buying leasehold real estate, for example, you may have to spend a lot more, especially in places like Kuala Lumpur and Selangor where land is expensive.

In addition to price, buyers should also consider the location and accessibility of these properties when buying a house. However, keep in mind that the number of freehold properties in prime locations is very limited, especially in mature urban areas. For example – if you are interested in two properties, with similar characteristics and the only difference being that one is leasehold and the other is freehold, you should choose the one with a leasehold.

Conclusion 

In general, the title of real estate should not be your only consideration when buying a home. As a buyer, you should think more about your affordability, borrowing capacity, work and living needs of yourself and your family, etc. If you continue to want to know more about buying property and immigration in Malaysia, remember to follow Denzity.

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Property investment is a long-term game and planning is the key. Watch more videos for a better decision! 

To receive more property information relating to the Malaysia, Canada and Hong Kong, sign up to our newsletter at the bottom of this page.

Malaysia investment information:

1. Malaysia | Why you should Immigrant in Selangor
2. Immigrate to Malaysia | Lower housing costs are the best choice for Hong Kong residents

Base on Location:

1. Brisbane | The place full of opportunity but little recognition

Follow us on:

👉 Facebook: https://www.facebook.com/Denzity-110540191579297

👉 Instagram: https://www.instagram.com/denzity_io_global/

👉 LinkedIn: https://www.linkedin.com/company/denzity 

# Disclaimer

Many people turn to real estate agents for help when viewing, renting, or buying a home, but how can you be sure that person is a licensed real estate agent? Before hiring one, is there any way to check if they are a legitimate real estate agent? This article will teach you 3 steps to find legitimate real estate brokers in Malaysia.

How to tell if a real estate agent is reliable?

1) Search through LPPEH official website

The public can search and inquire through the official website of LPPEH, and follow the following 3 steps to verify the identity of the other party.

On the search page of the LPPEH official website, choose to search according to the information of the real estate company (Firm), member (Member, including PEA and REA) or real estate coordinator (Negotiator). Fill in the information of the relevant person or company. If you want to search for the information of a REN, you can select “Search for Negotiator”, and then search according to any of the following columns:

– Real Estate Coordinator Number (REN Number)

– Name (can also be the English name on the business card)

– Identification number

– Passport number

– Phone number

After filling in the information, click “Search”. As long as there is a legal REN registered with LPPEH, you can check the other party’s personal information from this webpage. If the webpage does not display any information, it means that you’ve encountered an illegal real estate broker or company!

2) Check their documents

Whether it is REN, PEA or REA, as long as it is a legal property agent, they will have a certificate issued by LPPEH, such as REN Tag, PEA Tag or REA Tag.

These identification cards will list the broker’s name, photo, ID number, registration number, agency company to which it belongs, company registration number, and a QR code.

Moreover, LPPEH stipulates that when they are on duty, they must wear their identification documents. Therefore, we can ask the other party to show this document before formally hiring a real estate agent. If the other party cannot show it, it is likely that they’re up to now good!

3) Check the information on the real estate advertisement

According to Act 242, real estate agents in Malaysia must list themselves and real estate information when advertising to protect the public interest.

These materials include the real information of the real estate, the name of REN/PEA/REA, the registration number, the contact number, the name of the real estate agency to which it belongs, the company registration number, etc.

So, if you find that the advertisement you see does not have the above information attached, it is best not to contact the agent to avoid running into an illegal real estate agent.

Conclusion 

Although real estate agencies are regulated by relevant government agencies and laws, there are still many offenders in the market who provide real estate services illegally. To avoid scams, remember to check and verify the identity of the real estate agent before asking for help.If you continue to want to know more about buying property and immigration in Malaysia, remember to follow Denzity.

---

Property investment is a long-term game and planning is the key. Watch more videos for a better decision! 

To receive more property information relating to the Malaysia, Canada and Hong Kong, sign up to our newsletter at the bottom of this page.

Malaysia investment information:

1. Malaysia | Why you should Immigrant in Selangor
2. Immigrate to Malaysia | Lower housing costs are the best choice for Hong Kong residents

Base on Location:

1. Brisbane | The place full of opportunity but little recognition

Follow us on:

👉 Facebook: https://www.facebook.com/Denzity-110540191579297

👉 Instagram: https://www.instagram.com/denzity_io_global/

👉 LinkedIn: https://www.linkedin.com/company/denzity 

# Disclaimer