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Real Estate Knowledge

United Kingdom | 3 Reasons why UK property is worth to buy

Owning a property is a dream for every Hong Kong person. However, Hong Kong’s property prices have risen a lot and it’s difficult for Hong Kong citizens to have one. Compared with the sky-high prices in Hong Kong, overseas property is becoming a choice. The UK has been a popular choice as we have BNO which is easy to immigrate to the UK.

A good time to enter the market 

According to Knight Frank data, the number of UK exchanges in July 2021 was 21% below the five-year average. Moreover, the nationwide house index decreased from 8.7% to 7.8%. It is believed the UK real estate market took a hit during the pandemic. However, it is good news to investors since the housing prices are at a more reasonable stage. 

Besides, The American Federal Reserve Bank is starting to taper their repurchase of external debt and Q3 non-agricultural employment data happens to be way lower than expected. It can be foreseen that the tapering would be postponed as it is still not the time to release the inflation to the public. It is a great time to purchase assets now before tapering begins again.

“Help To Buy” Policy

The UK government has now added a “Help To Buy” policy to lower the threshold for the first phase of a new building. It also provides a home equity loan of more than 15% (up to 40% in London) to assist any first home buyer aged 18 or above. With a 5% first installment, you can use the policy to buy a new building. This round of policy will last until March 2023 (2022 in Scotland). If Hong Kong people are successfully hired after arriving in the UK, and have established sufficient credit scores and records, this policy can apply for them as well.

A path towards stability

The stock market has always been a volatile location. With previous disasters such as the depression in the 30s or the stock market crash earlier last year. These are all situations that every savvy investor wants to avoid. It is also no secret that real estate is a surefire way to maintain value and keep your money, but the question is how much?

Even though you can ensure that you would not go bankrupt with having property, the benefit also lies in the possibility of making money, thus the name of “investment”. As the rental yields are so high in the UK, it really is a foolproof plan. There are constantly tenets looking to rent and buy, no matter in what financial climate in the United Kingdom. With that you can always turn a profit on top of keeping your assets intact in dire scenarios.

Risk and Reward 

The most important part of investing is to manage risk and return.  The higher the risk of an action, the higher the reward it will bring to justify the investment in it.  And the current low risk and high return make purchasing a property a good investment.

   Whether you buy and sell real estate business for your own use or long-term investment, the UK market can meet your needs.  Like the slow pace of life in Merseyside or the fast pace of central London, there is always a place in the UK for you.

Conclusion

Whether or not you choose the UK 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. 

Disclaimer

Please note all the above stated is opinion only and does not constitute proper investment advice. Denzity is not liable for any investment decisions that result from following the opinions outlined above.

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Real Estate Knowledge

CBRE Profile

CBRE Group, Inc. is the world’s largest commercial real estate services and investment firm, with 2018 revenues of $21.3 billion and more than 100,000 employees (excluding affiliate offices). We has been become the Fortune 500 since 2008, and ranked #122 in 2021.

As the world’s largest real estate firm, we have a vast of resources and expertise supporting, together with local experienced international project team to provide you the best-in-class developments and investment portfolios. CBRE is a listed company on the New York Stock Exchange and we are licensed and regulated by the Hong Kong Estate Agents Authority.

Whether for investment or own use, we offer broad range of integrated services, from property sales & investment, letting & management, or even re-sale services etc., we serve you diligently in every important step.

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How to Become a Real Estate Agent

Deciding to become a real estate agent is a significant move in anyone’s career. People enter the field of real estate for various reasons and at different stages of their lives. There are so many reasons to choose real estate as your profession. It can be a challenging career if you do not have the right skills and knowledge, but it can be a rewarding one if you are self-motivated, hard-working, honest, and enjoy helping people. So, what does it take to become a legitimate real estate agent?

1. Understand your country’s requirement
The first step in learning how to become a real estate agent is to research your country/state’s requirements. For example, in Hong Kong, one of the conditions which an applicant for a salesperson’s licence must meet is that he has passed a relevant qualifying examination in the 12 months immediately before making an application for support. Each country/state is different, so you must pay attention to which exams or courses are required for your practice location.

2. Study hard and pass the relevant exam
You may enrol in some courses to prepare for your licensing exam. There are plenty of online classes, physical real estate schools, and courses at community colleges. Choose the method that works best for your learning style and timetable. At this stage, you may also network a bit to get to know the industry experts. It helps you understand more about the real estate industry as a whole. Passing the exam is just the first step because real estate is a people business!

3. Gain the licence and get ready

Once you’ve passed all your exams and get the licence, you’re ready to become a real estate agent! You can then apply for jobs and become an employee of a real estate company. Working for a real estate company is a good start when you are new to the industry. You can learn from your seniors and make use of the marketing resources offered by your firm. Once you gain enough network and experience, you can then consider starting your own company!

Keep in mind that a career as a real estate agent can be as flexible as you want it to be. In general, the more time and effort you put into being a real estate agent, the more success you will achieve. If you want to become a successful real estate agent, you need to treat it like a full-time business, always actively searching for new customers and serving customers at your best. Want to know more about the industry? Follow Denzity for more information! Denzity is a global community of real estate experts. It connects you to like-minded people and offers you up-to-date industry news.


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Unconventional way to use the internet in your real estate journey

The internet has taken the real estate industry by storm and shows no signs of slowing down. People are regularly using search engines to find properties online. It has allowed real estate buyers to be more empowered in the entire property searching process. Interested parties can better educate themselves on topics like return on investment, loan programs and overseas property. In the old days, you could only get this information from your real estate agents, who would have to send you their current listings via phone or mail. It was very ineffective due to the delay in information exchange.

The internet has opened communication for many businesses, and the real estate industry is the perfect example. As a real estate buyer, you can make fair use of the Internet during your research process. Not only can you find property listings online, but you can also gain access to a world of real estate knowledge. Check out the below unconventional ways to use the Internet during your real estate adventure.

#1 Use it as a learning platform to obtain worldwide information
Nowadays, real estate investment goes global. A lot of people are looking to buy properties overseas. With a few clicks, you can dig out lots of information about a property in another country. You can also easily connect to an overseas property agency and arrange virtual home tours. Meanwhile, there are plenty of real estate webinars available online. Use them as a learning platform to obtain information from world-class experts. We believe that the key to strategic real estate investing is being educated. So make fair use of the Internet and consume the right information.

#2 Follow real estate “influencers” to get inspired
In 2020, the Internet is very social. Social media platforms, especially Instagram, are changing how people buy everything from clothing to furniture, and now the same can be said for real estate. Real estate influencers can be your inspiration along the way. Of course, you need to select influencers carefully based on their number of followers, credibility, and authority. Follow the ones who can provide you with real insights and useful information. There is no faster way to obtain information through social media. Following real estate influencers also makes your real estate research journey more fun and entertaining.

#3 Exchange ideas with real estate experts
While your real estate agents may not have social media accounts – after all, not everyone loves social media – but you can also “make friends” with real estate experts online. Forums, webinars, and blogs are some great platforms. The good thing is you don’t need to attend those events in-person. With these online platforms, you can sit within the comfort of your home and get information from experts worldwide. If you have any question or doubt, you can send questions to them directly. The Internet has made communication easier and fostered the exchange of ideas.

If you want to join a community of real estate experts, Denzity is an excellent platform for you. We partner with professional real estate agents, developers, world-class investors and advisors to curate useful insights, open dialogues, and peer-reviewed content. Join us today to harness the power of the Internet. At Denzity, we want you to be more empowered in your real estate journey!


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Real Estate Knowledge

Things to consider when you buy a property overseas

Buying property overseas is undoubtedly more complicated than buying locally, especially when you do not have much experience. You will have to consider several factors and understand the risks associated with buying property abroad. This guide explores the difficulties you might face as well as some advice.

Understand the risks when buying property abroad
Tax – make sure you account for all the tax you will be liable to pay – the tax at home and in the country of purchase. Every country has its tax laws, so do your research correctly and seek professional legal and tax advice if required. You also need to think ahead. It’s common to be charged taxes when you buy a home and again when you sell it. Some places like Hong Kong impose stamp duty as an attempt to combat speculative practices. There may also be ongoing tax payments that you’ll need to make throughout the year. So you need to not just think about the tax when you buy the property, but also the tax when you own it and sell it in the future.

Check the eligibility – make sure that you have all the necessary permissions and eligibility before signing any form of contract with your real estate agency. Before buying any property overseas, it’s essential to check the local laws to make sure you are legally allowed to purchase real estate there. Even if you can buy real estate in a specific country, there might be some limitations. For example, in the Philippines, you can buy a unit in a condominium project – as long as the locals own 60% of the companies. Foreigners generally aren’t able to hold land. Vietnam, the hottest real estate hotspot in Asia, has similar restrictions too.

Funding – securing a mortgage can be tricky if you want to buy real estate abroad. There are other available options like developer financing for overseas investment. However, you have to explore the options carefully and assess your financial health. Also, the exchange rate matters. Even a tiny change to the exchange rate could significantly affect the value of your purchase and the return on your investment. The worst scenario – this could make a property or your mortgage repayments unaffordable overnight.

Beware of scams and deceptive marketing – buying property overseas involves risks, especially when you don’t know the market well. Don’t succumb to heavy pressure to sign up with a deposit before you’ve had a chance to go through everything carefully and obtain independent advice. Always reach out to reliable and reputable agents who have experience in that area.


Final words – do your research carefully
Don’t give away your hard-earned money because of inadequate research. There is plenty of information online. Do your research thoroughly and seek independent advice before making any deal. If you keep yourself aware of all the target country’s regulations and laws, it can help cut down the stress. That said, make sure you do your research right and consider all risks before making your international real estate purchase.



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New ways of marketing for real estate agencies

There are plenty of ways to do marketing for your real estate business. Traditional marketing methods, like creating a Facebook page or having a website, are no longer enough in today’s information age. Think about it, how many Facebook or Instagram posts do you see per day? And how many of them will you pay attention to? There is simply too much information online! That’s why today we want to talk about a more powerful way to promote your real estate business – video marketing. Here are 3 reasons why you should use video marketing right now.

#1 Video is more attractive
You know what? YouTube is the world’s second-largest search engine and second most visited site after Google. On average, there are 1,000,000,000 mobile video views per day. Video is a versatile and engaging content format that gives us a real-life picture of what is going on. It’s not hard to explain why Tik Tok is such a big thing now – the video-based social app is booming with more than 500 million monthly active users – people like it because videos are easy to digest, interactive and entertaining. So, if you are not using videos to promote your real estate business, you are missing out! What’s more, you don’t need to create professional-grade videos or something fancy. As long as your content is authentic, insightful and useful, people will remember you and your business.

#2 Video is more engaging
The whole concept of marketing is based on trust and creating long-term relationships. Trust is the foundation of conversions and sales, so stop selling and let the people come to you by providing them with the information they need. When potential customers see you talking about your properties and sharing knowledge in video format, it is likely to engage and ignite emotions. You can also present your real estate services in a conversational form. It is an effective way to foster trust. Many first-time buyers are sceptical about choosing their real estate agents because they fear fraud and cheating. So, the video is an excellent format to let potential clients know your business and you as a natural person. 


#3 Not many of your competitors are doing it right now
Although video marketing has been around for a while, many real estate agencies are not harnessing its power. For many years, the real estate business has been a relationship business. Agencies find their clients offline and rely on referrals, and most of the marketing budget goes to traditional advertisements like TV ads and property tour videos. You can be more creative when it comes to promoting your real estate agencies. For example, Denzity is actively looking for real estate experts worldwide to give our audience a better idea of how the real estate industry works. We are very active on YouTube and partner with real estate experts to produce useful content. Instead of selling or bombarding people with sales information, our goal is to inspire buyers’ confidence and trust during their real estate exploration. If you are owners of real estate agencies or real estate agents and wish to contribute, you are more than welcome!

Sign up here to get a chance to be featured!

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Denzity Insights: Japan Residential & Hotels [Expert’s Advice] with Perry Tan


Japan Residential & Hotels [Expert’s Advice] with Perry Tan

In this episode, we take a look at Japanese hospitality real estate and why they may be of interest to investors. Japan is known worldwide as a top tourist destination, and as such it has a booming hospitality industry with offerings ranging from chain-hotels to small room Airbnbs. Today we have Perry Tan to discuss the ins-and-outs of investing in this large market, and how it can appeal to any investor.

Key Discussions

▶  Japanese Residential Market [Expert updates]

▶  Mitigating Risk

▶ Operating A Small Residential Building

▶ Connect with Perry

https://www.linkedin.com/in/perrytan10/

perry.tan@pegasus-cap.com.

Description Block 3 – Links & Support

Carry interest: Also called a “promote,” carried interest has been a fundamental part of real estate investment partnerships for decades. Managing partners receive a carried interest, or a share of profits once an asset is sold, in recognition of both the value they bring to the venture and the risks they take. https://www.nmhc.org/advocacy/issue-fact-sheet/carried-interest-fact-sheet/ 

Free cash optionality : The quality of being available to be chosen but not obligatory. https://www.lexico.com/definition/optionality 

Hospitality assets: Hospitality Property means a full service or limited service hotel or resort, a condominium or timeshare hotel or resort, an extended stay property, or a conference center, and other facilities incidental to, or in support of such property https://www.lawinsider.com/dictionary/hospitality-property 

Cost of borrowing: The concept of a loan is pretty straightforward: first you borrow money, and then you repay it. But the amount that you must repay is more than the amount you borrow. This is due to interest and fees, which is what a lender charges you for the use of its money https://gsmr.org/financial-tips/the-cost-of-borrowing 

Yield/Rental sensitive: In finance, sensitivity is the magnitude of a market instrument’s reaction to changes in underlying factors, most often in terms of its price response to other factors. https://www.investopedia.com/terms/s/sensitivity.asp 

Upward risk: Upside risk measures the extent to which the value of a stock or other investment might go up beyond expected levels. https://capital.com/upside-risk-definition 

Capital appreciation: Capital appreciation is a rise in an investment’s market price. Capital appreciation is the difference between the purchase price and the selling price of an investment. https://www.investopedia.com/terms/c/capitalappreciation.asp#:~:text=Capital%20appreciation%20is%20a%20rise,earned%20%242%20in%20capital%20appreciation

Urbanization: Urbanization, the process by which large numbers of people become permanently concentrated in relatively small areas, forming cities. https://www.britannica.com/topic/urbanization 

Service apartment: Officially, ‘Serviced Apartment’ is the umbrella term for a type of furnished apartment available for short-term or long-term stays, which provides amenities, housekeeping and a range of services for guests and where most taxes and utilities are included within the rental price. https://theasap.org.uk/non-members-consumers/about-serviced-apartments/what-is-a-serviced-apartment/ 

Investor Relationship: The investor relations (IR) department is a division of a business, usually a public company, whose job it is to provide investors with an accurate account of company affairs. https://www.investopedia.com/terms/i/investorrelations.asp 

First Cabin: First Cabin is a chain offering compact capsule-style rooms. https://www.insidekyoto.com/first-cabin-kyoto-kawaramachi-sanjo#:~:text=First%20Cabin%20is%20a%20chain,a%20drawer%20under%20the%20bed

Earthquake regulation (Japan): The Building Standards Law was amended in 1981 to introduce new standards for designing buildings for earthquake resistance. This amendment was introduced as a result of the devastating 1978 quake that struck Miyagi. https://resources.realestate.co.jp/buy/earthquake-building-codes-and-technology-in-japan/ 

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As it can be difficult to catch some minor errors, transcripts may contain a few typos or inaccuracies.

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Alright, let’s get back to the transcript of the show. Enjoy!

▶ Transcript [English & Chinese]

Darren Wong: Hey, Perry. Welcome to the show.

Perry Tam: Hey, how’s it going?

Darren Wong: Very good, very good. So you know, it’s exciting because I’ve known for two and a half, three years through our mutual friend, Geoff. And then, Japan real estate market is something that a lot of people in Hong Kong, obviously interested. And then your backgrounds are unique because not only that residential, you do hospitality, Airbnb and other real estate type, too. So it’s good to pick your brain today. And just start with, would you mind telling the audience, your background and what you do?

Perry Tam: Yeah, sure. So at the moment, I am at Pegasus Capital, and we invest in Japanese real estate. Prior to that, well, I graduated the University of Chicago, and then basically had a finance track by working in investment banking, and also at a fundamental hedge funds, based in Hong Kong. And from there was a lot of bottom up analysis, looking at balance sheets, meeting management and understanding the investment thesis or what not. And it was around 2016,  that I moved back to my family office. And from there, I continued to make investments in the public market, in the debt space, so on and so forth. And one of  the things that I noticed, or what to find attractive about Japan is that if you buy an asset, and you can get leverage on it, you can actually ride a big carry, what I mean by that is that the returns are much higher than the cost of borrowing. And in finance term, I guess we can call this free cash optionality. And therefore, we just first purchased a building in Tokyo, a residential building. And then from there, we got some bank financing. And the idea is not that noble at the beginning, it was basically to generate free cash flow based on the investments and then maybe use it to buy stocks or whatnot. But one thing led to another, I suppose, and Japan, we’ve come to learn, it’s really, really attractive for an investor, and that rode on and continue to grow. And then now we are managing a fund with both my investor capital, and also LP capital, and we invest in what we have been looking into hospitality assets recently.

Darren Wong: I see, that’s good, because, obviously, I think Japan real estate market has been very attractive since five, six years ago. So would you mind telling the audience what’s going on in the residential market in Japan? And then how’d you get involved? And what is your view of the current stage at the moment?

Perry Tam: Sure, let me take a step back and  highlight what I think is exciting about Japan. Number one is the cost of borrowing is really cheap. So let’s say if the rental returns are 4%, 5%, 6%, the cost of borrowing is only around 1%. So if you can get a decent LTV, then it’s basically free cash. Secondly, the structural directory of Japan, I think, in general, residential has been strong for the last many number of years, hotels until recently is very strong. And obviously you also have the more mainstream asset classes like logistics or office, which are also pretty strong. And one important thing about Japan aside from the low cost of financing is that you get freehold ownership, which means that it protects investors, even for foreign investors. And because Japan as a market is very yield sensitive or rental sensitive. The fact that there is rent toward upward risk of  pressure, it means that the capital appreciation potential is high. So your questions are what residential? Is that right?

Darren Wong: That’s correct.

Perry Tam: Okay, specifically for residential, we own  a property in Tokyo at the moment. One in Shibuya-ku, near Harajuku. And the other one in the Tsukiji area. And Tokyo, surprisingly, has had population increase for the last 30 years. So Japan’s undergoing a really strong urbanisation trend, which means that if you are from the ] village, and you grow up there, the next thing you want to do is probably to work at a Tokyo, work at Nagoya, work at Osaka. These are  places which have experienced population increase over time. And that also explains why in Tokyo, the rooms are so small because it’s so crowded and packed. And because of this shortage of rooms available, it actually has a really high occupancy in Tokyo. And also rent has been increasing. I mean, that includes the assets and the properties that we hope to.

Darren Wong: I see. So how’s the experience from the standard market? And then make it considered hospitality, which is the journey behind that. And what’s your current view on the hospitality market as well at the moment?

Perry Tam: Sure. I think when we first purchase residential, it was more about testing the market with more central locations like Roppongi and maybe in Harajuku. So it was all about location, location, location, and we managed to buy an entire building in Harajuku and we got around a 50 to 60%  LTV at 1% cost of financing which is pretty low. And from there, we just realised that we can enhance the rental return. By back then we were doing Airbnb for some of the apartments and Airbnb is a tourist trend and, and all that. And in 2018, there was more regulation for Airbnb, but you can still operate, we can still rent out these apartments as a  service apartment. So they call it monthly mansions in Japan. So in the case of Japan, any rental which is 30 days or more is not considered a hospitality or hotel accommodation. Likewise, in the case of Hong Kong, that break off point is 28. So what that means is if the normal rents is around, let’s say $100, for simplicity, using round numbers, then you can probably rent it out to the business traveller or somebody that wants to rent the place at around $160 to $200. So that is the markup. And that is the enhancement that you could achieve by operating as an Airbnb or service apartment. So how did they get into hotels? I think while because I’m a public market and hedge fund background before, we managed to talk to  a lot of IRs (investment relationships) or CFOs, and all that from listed charities, so also from budding hotel operators that want to go into Japan, one of which was Ctrip. And we were actually the first tenant, sorry, the owner of one of the hotels that Ctrip was operating in Japan, the subsidiary. And because of that they were able to offer above market rental returns, because they had cost efficiency in operations. And nationally, because of that we invested in a couple of hotels in Osaka, and they were intended. So one thing led to another there.

Darren Wong: I see. And then obviously, we cannot deny the fact that it is another COVID-19 impact. There are a lot of these international things happening, the Rugby World Cup, another big game, and then the potential gambling license, that one (topic) I’ll talk to you more about that. So how has the government helped infrastructure and your view on those events? How much has it helped it? And then do you think that the effect will prolong years even after those events?

Perry Tam: Yeah, I think really depends on the view of everybody about cause is it going to be a five year thing, a 10 year thing or two year thing. I mean, my personal view is COVID is a negative event that affects all industries and most industries. But that said, you still have to look at the mid term to long term outlook of any country or anything that you invest in. So I think, you know, they had just now right, I mean, Japan has a lot of the positive drivers for investment and also for tourism. I talked about two already, which is the low cost of funding, and the ownership of freehold ownership. That’s the two that talked about. And the other things that you talked about is the Rugby World Cup and the Olympics. I mean, with or without the Olympics, with or without the Rugby World Cup, I think it’s fair to say that the Japan government has put in a lot of capital to improve the infrastructure of the country in general. So let’s say should we in Tokyo, you’re seeing a complete redevelopment in places like Yokohama or Osaka, you see a lot of capex to renovate or rejuvenate the city and whatnot. And therefore, even you know, for local places is much better or more attractive than it used to be. And for the Olympics, sorry for the casinos, I think they are talks about Osaka, Yokohama and whatnot. I think that’s gonna be a slightly longer term story. But the story is still intact. What I mean by that is, the government’s going to spend capital there, and the government is going to attract casino operators to come in. And one thing you missed this also the Expo that’s happening in Japan in Osaka. So that’s in between the casinos and after the Olympics. So you have all these drivers in Japan, I mean, where the government’s willing to spend. And if you talk about guests or tourists that are willing to come and travel, I mean, naturally, they’ll do the Thailand, so do the Koreas and whatnot. But then the interest is really firmly in Japan. And there’s so much truth for Japan aside from Tokyo, Osaka, maybe Kyoto, they are quite significant, too.

Darren Wong: Really? Okay. Because there’s something that I felt like Japan have to get ready for a lot of things happening, which comes to something that I always want to ask you even as a friend, is that before the show to talk a little  bit about the hospitality market in Japan, a lot of people want to be part of that. And then how do you suggest them to be an operator or an investor and sometimes what kinds of difficulty is that as the operator and investor that people don’t know about? And then lastly of this whole three part question is that, beside COVID-19 impacts, is it worth investing or being operator in the space?

Perry Tam: Sure. I think the competition has increased over the last couple of years. I mean, if investors or your friends came into Japan and made investments, like five years, six years or seven years ago, then it’s going to be much easier to outperform. But because you’re basically riding the upward wave, right? But nowadays, even without COVID, you can get in more competition,  and you get in more upstarts, right? And the general theme that I see for failures, if I may, are hotels or operating businesses that are undifferentiated in poor locations, and with rooms that are built for the ordinary businessman. There’s zero lack of the zero differentiation. And when, let’s say there’s more competition in the market, these guys are the ones that we’ve wiped out. And we actually see that recently, there’s a hotel operator called WBF that went bankrupt recently. And on the papers is also a brand called First Cabin, who are hostels that do capsule hotels. So naturally, in this case, there is a lack of differentiation and they don’t have a product offering. For the hotels that we are operating or invested in, it’s more differentiated either on the cost side or the design side. On the cost side, for example, we are operating a hotel in Kyoto at the moment, and even at a 20% occupancy, we are profitable, so means that in COVID environment, we have profitable. And the rooms that we have are around  17 to 20 square metres. So that means that is much larger than the average business hotel. So most hotels in Japan are actually really small shoe box for the ordinary person that’s going to travelling between cities to work, that no longer really works. And investing in  those assets are going to be problematic. Lastly, about who to work with or whether to start your own hotel operating company, operating business is a lot of time. So you probably have to be on the ground, or you have to have the right people in the ground, if not I don’t think it’s worth doing. Rather, I think it makes more sense to work with an operator with some sort of track record, or, at the very least some business sense and design in management and also strong with numbers, I think, a lot of operators that I’ve talked to, to my investment and due diligence to only have one, but not all three. And that’s why they fail.

Darren Wong: I see. It sounds like you need a superman to be part of the hotel operator, because it’s something that’s, even myself, I think, with my background before as an asset manager, but I try to manage two hotels, and that is a lot of work. I don’t know how to do it. And obviously we talked about COVID a couple times, that’s something that I want to ask you because that sounds really good, you’re doing everything really well. So during the COVID-19, how the government is helping you guys and then how yourself mitigate the risk during a time like this?

Perry Tam: Sure. So at the moment, we have Airbnb and also hotels and service apartments. And I guess the government has been supportive in terms of having subsidies. You know this better than me, but I think it’s similar to that of Southeast Asia or maybe in the US. So some of these we have a work from home subsidies, IT and telecommunication, tele-working subsidies, and also a COVID loan, a zero interest loan, and they’re going to take it a step further, you can probably borrow around 50 to 80 million of low interest or principal only repayment loans. So the banks have been quite easy, or they have been relaxing their requirements. And so therefore, you can cover staff costs, you can cover equipment costs, and you also can borrow money from the government, or related banks at a very low cost. So that’s why you don’t see that many bankruptcies, I mean, you do in Japan, you do see bankruptcies but it’s not at the level of the US or maybe Europe.

Darren Wong: I see. So, going back to a little bit on Airbnb side, I’m just wondering, because a lot of people like smaller investors are going to consider Airbnb or even smaller one who have a consortium of assets for that, how would you feel about the Airbnb future in Japan? And then what do you think the outlook of it?

Perry Tam: Sure, I think if for small investors, I think there are two ways to look at it and I suggest these two schemes. Number one is to buy a residential building, but make sure that it’s in the right location with the right zoning. And  if that checks all the boxes, it can be actually operated as an airbnb 365 days, or it could be converted into a simple lodging, which effectively is a hotel. Under that scenario, it could be leased out to an operator, or the operator can give you, let’s say, pay a rental which is at or slightly below market, but with the upside option to it. I think that’s the best way to work on, to improve the yield or to improve the investment return for a small, ordinary investor. The second way to do it is to do, let’s say there’s a burden of eight floors, maybe the first floor to the third floor, you do a service apartment or airbnb. By service apartment, I mean, subleasing for 30 days. And then put a top floors, you have the fixed reliable income that you’re renting out to the ordinary Japanese family or salaried person, then that way you have diversification of income and also upside, if the service apartment operator or the Airbnb operator generates extra alpha.

Darren Wong: [00:16:22] I see. So I think you cover a lot of detail that I wasn’t expecting to because it’s just things that no one realises that you have to understand the asset, how you work, the location wise, and then even, like residential building can be worked with different type of asset class if you don’t understand what’s going on. So even when the communication with you I know you know your stuff really well for that reason. For the audience that might want to participate in Japan real estate sector, how would you suggest them to participate, for small investors and large investors? And then one thing I was curious is that a lot of people will think that it’s a bit too late to get into the game at the moment, because Japan before was a huge boom, and then things are still going well, in long term, do you think there’s still potential or is it too late to you?

Perry Tam: I think I’ll answer the first part first. For small investors, I think if they’re buying units or apartments themselves, and they should look at core central locations, don’t just chase yield in the middle of nowhere, because as I said earlier, Tokyo, Osaka, Nagoya those places, population has been increasing over the years. So the safe bet is probably going to be in Tokyo. And it’s going to be in the main five wards, which is Chuoward, shipway ward, Shinjuku ward, Minato ward, so on and so forth. Focus on those locations. And don’t buy assets that are older than 1983 because of earthquake regulation, and make sure that you buy freehold land, and freehold property, I should say. And from there, basically, you have two strategies: rented out long term to somebody or you can enhance that return by talking to, let’s say, a hotel operator, service apartment operator or an Airbnb operator, which of course I know people that are doing that. That’s one way to do it. For big guys, I think that, depending on how big, I mean, I think looking at residential, offices,  hotels, I think it’s the same story there. I think those are all attractive assets, if you have a lot of capital and maybe logistics. But I’ll probably stay away from retail at the moment. And it’s a similar story in the US whereby you have to the Amazon risk or the e-commerce risk. And, secondly, the valuations are not that cheap. The second part of your question is what?

Darren Wong: Do you think it’s too late when we have to go in or there’s still a lot potential for the markets?

Perry Tam: I think there’s a lot of potential. I think one important point to highlight in Japan is that most of the capital flow in terms of property transactions are driven by local corporates, and also by pension funds and charities. And they account for around close to 60% of all transactions in Japan. So as a small investor, or a high net worth investor, you don’t really move the needle, because these are the big guys that are buying for stable cash flow reasons or for tax reduction purposes. Therefore, there’s always a pocket to look at in Japan. And they go for us, at least at Pegasus, to sell to one of these guys have to do the value adding. For investors that are looking at Japan early on, then I think it’s important for them to understand that the person that you sold to is probably a Japanese person, not an international investor. And secondly, You also have to consider the Japanese low cost of funding, that’s going to continue for a long time.

Darren Wong: I see, that’s good. I only have one more question. Because there’s something I’m just curious. What are some projects you’re working on and the opportunity you’re looking at the moment?

Perry Tam: Sure, I think, in real estate investment, you can break down your risk and appetite into several buckets, you’ve got the opportunistic bucket, obviously, and then you have the value add, then you have core plus, which is just normal rental, a bit of tweaks, and then you have core investors, that’s just what stable income. In a COVID environment, I think it’s important for us to, if we’re deploying capital in a risky environment, then we should be more opportunistic, very naturally. And in this market, the most opportunistic assets, I think, are going to be hospitality related assets. And that’s what we’ve seen the biggest discounts. At the moment, we are looking at projects, which are probably gonna be discounted by 40, maybe 50%. By sellers across the board, it could be a fund that has reached maturity, it could be a developer that has borrowed too much money, or they need to release capital for the next project, and so on and so forth, guys like that we talked to at the moment. And we believe that buying at around 30, to maybe 50% discount to what it used to be, it’s going to be very attractive, considering what I just said about the future, tourism trend, maybe one year, maybe two years, maybe three years down the line, it’s probably going to recover from what it is now. And if our hotel operating business is still profitable at 20% occupancy, you can assume that if things go back to 50, 60, 70, how much of a margin that we can make, and how much capital gains that we can achieve by buying at this moment right now.

Darren Wong: It’s huge. I mean, 30% holy crap. That’s a huge number. Actually, if you can, you can pull it off. Yeah.

Perry Tam: And I guess I’m talking, I forgot to say, and we are not really looking at in the middle of nowhere, I’m talking about Tokyo, like 100-room hotel in Tokyo, where I’m talking about a 150-room hotel in Kyoto. I’m talking about a development project in the middle of number, right in the middle of Osaka. And these are things that are really exciting and it was something that I had difficulty sourcing or buying like two or three years ago, because nobody is willing to lower their prices until recently.

Darren Wong: I see. But obviously, I think there are so many things that I want to ask. There are so many questions in my head, for example, different asset class, it can be industrial or other property type that you see interesting, or like location, so on. But we will wait for the next time then. And then for people who want to reach out to you and talk to you more about Japanese hotel, Airbnb residential, how would you suggest them to find out you and talk to you more further?

Perry Tam: Yeah, I think they can send me email at perry.tan@pegasus-cap.com.

Darren Wong: Okay, cool. Well, obviously, I will include everything in the show notes. And then I want to say thank you for your time because  it’s something for myself, I am always being so curious, now a lot of people in Hong Kong or other places will be also appreciate your insight and sharing as well.

Perry Tam:  No, my pleasure, my pleasure. I hope you’re doing well, by the way.

Darren Wong: Hopefully, we’ll see. But thanks for time and see you next time. Thank you.

Perry Tam: Okay. Take care.

Darren Wong: Bye bye.

Darren Wong: 嘿,Perry。歡迎你來到本集節目。

Perry Tam :嘿,你最近怎樣?

Darren Wong: 非常好,非常好。你知道的,這實在令人興奮,因為我們已經認識了兩年半、三年了,通過我們共同的朋友,Geoff。然後顯然日本房地產是一個很多香港人都很感興趣的市場。而且你的背景很獨特,因為不僅是住宅區,你的工作也包含飯店、Airbnb和其他房地產類型等。所以今天我們有很多東西可以跟你討論。首先,你能告訴聽眾你的背景和你的工作嗎?

Perry Tam :是的,當然。所以目前,我在Pegasus Capital工作,我們投資日本的房地產。在此之前,我畢業於芝加哥大學,然後開始在投資銀行和一家總部設在香港的基礎對沖基金工作,基本上建立了金融方面的工作經驗。在那裡我處理很多非常全面的分析,查看資產負債表,會見管理層,瞭解投資主題或其他相關的工作。大約在2016年,我回到了我的家族理財辦公室工作。在那之後,我繼續在市場上投資,投資債券等等。然後其中一件我注意到的事情是,或者說,日本的吸引力在於,如果你購買了一項資產,並且你可以從中獲得貸款融資,你就可以得到很高的回報。事實上,我的意思是,直到回報率遠高於借貸成本。從財務角度來說,我想我們可以稱之為免費現金選擇。因此,我們在東京購買了一棟住宅樓。然後從那裡,我們得到了一些銀行融資。一開始的想法並不那麼成熟,它基本上是通過投資產生自由現金流,然後可能用來購買股票或其他什麼。但經過一段時間後,我假設在日本,我們逐漸瞭解到,它對投資者來說確實非常有吸引力,而且還在繼續增長。現在我們和我的投資者一起管理一個基金資本和有限合夥資本,我們最近一直在研究及投資的飯店資產。

Darren Wong: 我明白了,這很好,因為,很明顯,我認為日本房地產市場從五、六年前就已經非常吸引人了。你介意告訴觀眾日本住宅市場上的狀況嗎?那你是怎麼開始參與住宅市場的?你對現階段的市場狀況有什麼看法?

Perry Tam: 當然,讓我退一步,突出我認為日本令人興奮的地方。第一,借貸成本真的很便宜。假設租金回報率是4%,5%,6%,那麼借款成本只有1%左右。所以如果你能得到一個理想的貸款價值比,那基本上就是免費現金。第二,日本的發展結構,我認為,總體而言,在過去的許多年裏,住宅市場一直很强大,直到最近,酒店市場都非常强大。顯然,你還有更為主流的資產類別,如物流或辦公,它們也相當强大。還有一件關於日本的重要事情除了融資成本低之外,你還可以獲得自由所有權,這意味著它可以保護投資者,甚至是外國投資者。因為由於日本市場對收益率或租金非常敏感。事實上有租金向上的風險壓力,說明資本增值潛力較大。你的問題是關於住宅市場?對嗎?

Darren Wong: 沒錯。

Perry Tam: 好的,特別是住宅,我們擁有東京的一處房產。其中一個在Harajuku附近的Shibuya-ku。另一個在Tsukiji地區。還有東京,令人驚訝的是,在過去的30年裏,人口一直在增長。所以日本正在經歷一個非常快速的城市化趨勢,這意味著如果你來自村莊,你在那裡長大,下一步你想做的事情可能是在東京工作,在名古屋工作,在大阪工作。這些是人口隨時間增長最顯著的地方。這也解釋了為什麼在東京,房間這麼小,因為它是如此擁擠和擁擠。因為缺乏空置的住宅,東京的入住率非常高。而且房租也一直在上漲。而這包括我們希望得到的資產和財產。

Darren Wong: 我明白了。那麼你在標準市場有什麼經驗呢?然後當你處理酒店業的時候,你現時對飯店市場的看法也是如此?

Perry Tam :當然。我認為,當我們第一次購買住宅時,主要目的的是用戶來測試像六本木和原宿這些中央地方的市場。所以一切都是關於市場的位置,位置,和位置,我們設法在原宿買了一整棟樓,我們得到了大約50%到60%的回報貸款價值比為融資成本的1%,這是相當低的。從我們剛剛意識到我們可以提高租金回報率。那時我們正在為一些公寓做Airbnb,那時Airbnb是一種旅遊趨勢。到了2018年,對Airbnb有了更多的規定,但你仍然可以經營,我們仍然可以將這些公寓作為服務式公寓。所以在日本他們稱之為月宅。因此,在日本,任何30天或30天以上的租金不被視為招待或酒店住宿。同樣,就香港而言,這個點是28。所以這意味著如果正常的租金是,為了簡單起見,假設100美元左右,使用整數,那麼您可以將其出租給商務旅行者或想租房子的人在160到200美元之間。這就是標記。這就是你可以通過Airbnb或服務來實現的增强的公寓。那麼他們是怎麼進飯店的?我想,因為我以前是一個公開市場和對沖基金的背景,所以我們設法與很多國稅局或首席財務官聯繫,所有這些都來自上市慈善機構,還有那些希望進入日本的新興飯店運營商,其中之一就是Ctrip。以及我們實際上是第一個承租人,對不起,Sea Trip在日本經營的一家飯店的所有者,即子公司。以及因為他們能够提供高於市場的租金回報,因為他們的運營具有成本效益。我們在全國投資了幾家飯店,特別是在大阪。所以這一切都是經過我們的仔細安排的。

Darren Wong: 我明白了。顯然,我們不能否認這是另一個冠狀病毒的影響。有很多這樣的國際賽事正在發生,橄欖球世界盃,另一場大型比賽,還有潜在的賭博許可證,我會和你們詳細談談。那麼,政府如何幫助基礎設施建設以及您對這些事件的看法?有多大幫助?那麼,你認為這種影響會持續數年嗎?

Perry Tam :是的,我認為真正取決於每個人對於這件事情的看法,是五年的事,還是十年的事,還是兩年的事。我是說,我個人的看法是冠狀病毒是影響所有行業和大多數行業的負面事件。但也就是說,你還是要看中長期的前景任何國家或你投資的任何東西。所以我想,你們知道,他們剛剛有,我的意思是,日本有很多正面的因素推動投資和旅遊業。我已經談到了所有權的低成本。這就是我們談論的兩個。還有其他的事情例如我們剛談論的奧運會和橄欖球世界盃。我的意思是,不管有沒有奧運會,有沒有橄欖球世界盃,我認為公平地說,日本政府在投入大量資金改善國家的基礎設施。如果我們在東京,你會看到一個完整的發展,在橫濱或大阪這樣的地方進行再開發,你會看到很多資本金被用以翻新或振興都市等等。以及因此,即使你知道,因為當地的地方比過去更好或更具吸引力。為了奧運會,而關於賭場,我想他們在談論大阪、橫濱等等。我想這會是一個稍微長一點的故事。但賭場的發展機會依然存在。我的意思是,政府要在那裡投資,政府要吸引賭場經營者進來。還有一件你忘記了的事,是這次日本大阪世博會。所以那是在發展賭場和之後的奧運會之間。所以你在日本有這麼多發展推動力,我是說,政府願意花錢的地方。如果你談到願意來的客人或遊客旅行,我的意思是,自然,他們會去泰國,韓國和其他什麼的。但是旅客對日本的興趣一直都很高,而除了東京之外,大阪,也許京都,它們也很重要。

Darren Wong: 真的嗎?可以。因為我覺得日本必須為很多事情做好準備,這就是我作為朋友也一直想問你的一件事,也就是在節目開始前要說的,關於日本的飯店市場,很多人都想參與其中。那麼你如何建議他們成為一個運營商或投資者,有時又會有怎樣的困難,特別是人們並不知道的,作為經營者和投資者的困難?最後一個部分的問題是,除了冠狀病毒的影響,還是否值得在該領域投資或成為運營商?

Perry Tam :當然。我認為競爭在過去幾年。我是說,如果投資者或你的朋友來日本投資,比如五年、六年或七年以前,那麼要在競爭中獲勝就很容易了。但因為你的資產基本上是在上升,對吧?但是現在,即使沒有冠狀病毒,你也可以,你會有更多的競爭,對吧?如果可以的話,我認為失敗的主要原因是飯店或經營企業,在貧困地區沒有區別,房間是為普通商人建造的。缺乏了零分化。當市場競爭加劇時,這些人就是我們要消滅的。我們真的看到了最近,有一家名為WBF的飯店運營商最近破產了。報紙上還有一個叫First Cabin的企業,他們是做膠囊旅舘的旅舘。所以很自然,在這種情況下,他們缺乏特色,也沒有產品供應。對於那些我們正在運營或投資,無論是在成本方面還是在設計方面都有更大的特色。例如,在成本方面,我們現時在京都經營一家飯店,即使入住率為20%,我們也是有獲利的,這意味著在冠狀病毒的環境影響下,我們也可以盈利。我們的房間就在附近17到20平方米。這意味著它比一般的商務飯店要大得多。所以日本的大多數飯店其實都很小,像為普通人準備的鞋盒,現在已經不起作用了。投資於這些資產會有問題。最後,關於與誰合作或是否成立自己的飯店運營公司,經營業務是一個很長的時間。所以你可能必須在當地上,或者你必須在當地有合適的人,否則我認為這不值得。更確切地說,我認為與有運作經驗的夥伴一起工作更有意義,或者至少在管理方面有一定的商業頭腦和設計,我想,我見過很多運營商對於我的投資和盡職調查,只有一個,但不是全部三個。這就是他們失敗的原因。

Darren Wong: 我明白了。聽起來你需要一個超人加入飯店營運團隊,因為這是一件事,甚至我自己,我想,有我以前的資產管理背景,但我試圖管理兩家飯店,這是一項大量的工作。我不知道怎麼做。很明顯,我們談了幾次有關冠狀病毒的影響,這是我想問你的,因為這聽起來很好,你做的一切都很好。所以在]冠狀病毒的影響下,政府是如何幫助你們的,以及在這樣一個時期你是如何減輕風險的?

Perry Tam :當然。所以現在,我們Airbnb以及飯店和服務公寓。我想政府在補貼方面一直很支持。你比我更瞭解這一點,但我認為這與東南亞或美國的情况類似。所以我們有一些在家工作的補貼,是嗎以及電信、遠程工作補貼,以及COVID貸款,零利率貸款,他們會更進一步,你大概可以借到5000萬到8000萬的低利率僅限利息或本金的償還貸款。所以銀行一直很寬鬆,或者他們已經放寬了他們的要求。因此,你可以支付員工成本、設備成本,還可以從政府或相關銀行以非常低的成本借款。這就是為什麼你看不到那麼多的破產案,我是說,你在日本有,你確實看到過破產案,但並沒有美國或者歐洲的數字。

Darren Wong: 我明白了。回到Airbnb這個話題,因為很多人,例如小規模的投資者,都想考慮一下Airbnb或更小的公司,他們擁有一個資產聯盟,您對Airbnb在日本的未來有何看法?你覺得前景如何?

Perry Tam: 當然,我認為對於小規模投資者,我認為有兩種方法可以考慮,我建議這兩種方案。第一件事是買一棟住宅樓,但要確保它的位置和分區都是正確的。以及如果檢查了所有的條件,它實際上可以365天都作為airbnb 運行,或者可以轉換為一個簡單的住宿,即實際上是一家飯店。在這種情況下,它可以出租給運營商,或者運營商可以給你,比如說,支付處於或略低於市場水准的租金,但有上行選擇。我認為這是最好的方法提高收益率或提高小型普通投資者的投資回報率。第二種方法是做,比方說這裡有八層樓,可能從一樓到三樓,你做的是服務式公寓或airbnb。我指的是服務公寓,轉租30天。再加上頂層的單位,你就有了固定可靠的收入,你就可以出租給普通人、日本家庭或工薪階層,那麼這樣你就有了收入的多樣化,也有了上行空間,如果服務式公寓運營商或Airbnb生成額外的收入。

Darren Wong: 我明白了。所以我覺得你講了很多我沒想到的細節,因為這只是一些沒人能想到的事情意識到,你必須瞭解資產,你如何工作,位置,然後,甚至,像住宅樓宇,可以使用不同類型的資產類別,如果你不瞭解發生了什麼。所以即使和你交流的時候,我知道你對自己的東西非常瞭解。對於希望參與日本房地產行業的觀眾,對於小投資者和大投資者,您如何建議他們參與?我很好奇很多人會認為現在進入市場有點晚了,因為日本市場以前是十分繁榮,然後事情仍然很順利,從長遠來看,你認為市場仍然擁有潜力還是太遲了?

Perry Tam: 我想我先回答第一部分。對於小規模投資者,我認為如果他們購買單位或公寓本身,他們應該關注中心位置,而不是僅僅在偏僻的地方追求收益,因為正如我前面所說,東京、大阪、名古屋這些地方,人口逐年增加。所以安全的賭注可能在東京。而且可以專注在在五個主要的區域,分別是Chuo區、Shibuya區、Shinjuku區、 Minato區等等。集中在那些地方。要購買1983年以前的資產,因為地震法規的原因,並且確保你購買了,我想說的是,永久擁有的土地和房產。從這裡,基本上,你有兩個策略:長期租給別人或你可以通過與飯店運營商、服務公寓運營商或Airbnb運營商(我當然認識這樣的人)交談來提高回報。那是一種方法。對於大型的投資,我認為,取決於多大,我的意思是,我想看看住宅,辦公室,飯店,我想也是這樣。我認為這些都是有吸引力的資產,如果你有大量的資金和物流。但我現在可能會遠離零售業。在美國也有類似的情况,你要承擔亞馬遜風險或電子商務風險。其次,估值也不那麼便宜。你問題的第二部分是什麼?

Darren Wong:你認為我們必須進入的時候已經太遲了還是市場還有很大的潜力?

Perry Tam :我認為有巨大的潜力。我認為在日本需要強調的一點是,在房地產交易方面,大部分資本流動都是由當地企業推動的,還有養老基金和慈善機構。占日本全部交易的60%左右。所以作為一個小投資者,或者是高淨值投資者,你不會真的動用很多資金的,因為這些大公司是為了穩定的現金流或減稅目的。因此,在日本總有投資的機會可以考慮。他們會來找我們,至少在Pegasus,要賣給這些人中的一個,就必須新增價值。對於關注日本的投資者來說那麼,我認為,讓他們明白,你賣給的人可能是日本人,而不是國際投資者,這一點很重要。以及其次,你還必須考慮到日本的低融資成本,這將持續很長一段時間。

Darren Wong: 我明白了,這很好。我還有一個問題。因為有些事我只是好奇。你在做什麼項目?你目前正在尋找怎樣的機會?

Perry Tam :當然,我想,在房地產投資方面,你可以把你的風險和目標分成幾個部分,很明顯,你有機會投資,然後你就有了增值,然後你就有了收益,這就是只要正常的租金,稍微調整一下,然後你就有了核心投資者,這就是穩定的收入。在冠狀病毒的環境下,我認為我們應該,如果我們在高風險環境中投入資本,那麼我們自然應該更加把握機會。在這個市場上,我認為最能把握機會的資產,將成為飯店相關資產。這就是我們看到的最大折扣。現時,我們正在研究的項目打40折,或者50%。可能是一個開發商借的,可能已經借了太多錢了,或者他們需要為下一個項目釋放資金,等等,諸如此類的傢伙,我們現在談過了。我們相信考慮到我剛才所說的未來,以30%左右的價格購買,可能會比以前有50%的折扣,這將是非常有吸引力的,旅遊業的趨勢,也許一年,也許兩年,也許三年以後,它可能會從現在的狀況中恢復過來。如果我們的飯店運營業務在入住率為20%的情况下仍然盈利,你可以假設,如果情况回到50、60、70%,那麼我們現在可以通過購買來獲得多少資本收益。

Darren Wong: 這太大了。我是說,30%的天啊。這是一個巨大的數位。事實上,如果你能做到的話,你可以做到。是啊。

Perry Tam :我想我在說的是,我忘了說,我們並不是在看偏僻的地方,我說的是東京,比如說東京的100個房間的飯店,我說的是京都的一個有150個房間的飯店。我說的是一個開發專案在中間,正好在大阪的中間。這些都是非常令人興奮的事情,這是我在採購上遇到的困難,像兩三年前一樣,因為直到最近才有人願意降價。

Darren Wong: 我明白了。但顯然,我想我有很多事情想問。我腦子裏有很多問題,比如,不同的資產類別,可以是工業的,也可以是其他的您看到的有趣的或類似位置的產業類型,等等。但我們將等待下一次。還有那些想和你接觸更多,討論關於日式飯店,Airbnb 住宅的人,您會如何建議他們找到您並與您進一步交談?

Perry Tam: 是的,我想他們可以給我發電子郵件到perry.tan@pegasus-cap.com.

Darren Wong:好的,酷。嗯,顯然我會把所有的東西都寫在節目筆記裏。然後我想說謝謝你抽出時間,因為這對我也很有幫助,我一直很好奇,現在香港或其他地方的很多人也會很欣賞你的見識和分享。

Perry Tam :不,這是我的榮幸,我的榮幸。我也希望你最近過得不錯。

Darren Wong: 希望我們能再見到你。謝謝你的時間,下次見。謝謝您。

Perry Tam :好的。保重。Darren Wong: 再見。

Categories
Market Updates 未分類

Denzity Insights: The Future of Real Estate Is Digital with Justin Lau

The Future of Real Estate Is Digital with Justin Lau

This episode, we explore more on the tech side of the property market, which is widely known as PropTech across the industry. Just like any other sector, the real estate industry is also digitizing every day, however, the adoption has been rather slow in the Asian market. Today our guest Justin Lau will talk about why he created Property Raptor to help speed things along.

Key Discussions

▶  Real estate focused CRM

▶ Challenge of real estate digitization

▶ Property Raptor vision

▶ Connect with Justin:

Linkedin: https://www.linkedin.com/in/justin-lau-897b5822/

▶ Source & Supporting:

 CRM system: CRM or customer relation management system is a tool, usually used by businesses to acquire and handle customers.

https://www.creatio.com/page/what-is-crm

PropTech: PropTech is an acronym for the words Property Technology, which has been created due to the vast usage of technology in the property or real estate industry.

https://www.hqo.co/what-is-proptech-and-what-does-it-mean/

SMS: SMS is the abbreviation for short message service, better known as text messages.

https://www.androidauthority.com/what-is-sms-280988/

Property Raptor: https://www.propertyraptor.com/

IMS: http://www.imsglobal.org/home

Marketing automation: Marketing automation is basically the usage of softwares to simplify the work for marketers by saving their time and effort, especially when it comes to repetitive tasks.

https://mailchimp.com/marketing-glossary/marketing-automation/

Inventory management: It is the whole process of handling and sorting the goods in an inventory of a company or a business.

https://www.investopedia.com/terms/i/inventory-management.asp

Lead generation: It is a way of approaching potential customers or audience in order to increase their chances of making the purchase.

https://blog.hubspot.com/marketing/beginner-inbound-lead-generation-guide-ht

SaaS (Software as a service): SaaS is a way in which data the are stored in cloud can be accessed from any device via internet.

https://www.salesforce.com/in/saas/

Blockchain technology: A blockchain is basically a chain of blocks containing information online. The structure of a blockchain technology is designed as such, so that the data stored within cannot be tampered with.

https://www.euromoney.com/learning/blockchain-explained/what-is-blockchain

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As it can be difficult to catch some minor errors, transcripts may contain a few typos or inaccuracies.

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Alright, let’s get back to the transcript of the show. Enjoy!

▶ Transcript [English & Chinese]

Darren Wong: So Justin, welcome to the show.

Justin Lau: Thanks Darren for having us.

Darren Wong: Yeah, so it’s really exciting, because I heard a lot about you guys. And what you guys are doing is amazing, empowering the proptech scene in Hong Kong. The product sounds really, really cool. So obviously, it’s really good to have this opportunity with you. So before started, would you mind telling the audience a little bit about yourself, and then Property Raptor? 

Justin Lau: [00:00:24] Sure, I started with Property Raptor in about two and a half years ago, in my previous history, I was actually within the finance and banking space. So I was a banker for more than a decade, within the capital markets, talking to clients about selling shares, and advise them on what to buy and sell, and then subsequently moved into the private equity space, and did a lot of work in the technology area, or private equity. You know, it was actually two and a half years ago, where the idea of Property Raptor came about. We’re doing a lot of investing in that area. And we’ve heard from a lot of different agencies and different market  participants that the real estate software space is really underserved, particularly in Asia. And so, in particular, one of my good friends runs an agency in Greater China. And he said, the ultimate reason why he couldn’t expand further was that the software didn’t serve their needs in order to manage a bigger business. So that’s how the idea Property Raptor came about.

Darren Wong: I see. That’s really fascinating, because a lot of people are thinking about, how do you have a better process for a real estate agent to approach? So obviously, would you elaborate more about the origin of Property Raptor, and also a CRM system and why it’s so important to have real estate focused on a CRM system?

Justin Lau: [00:01:43] Everybody knows the Hong Kong is a is a major global city. And the main sector is that drives, are finances and property and retail and so on. But what really lags behind in the city, and in particular, the property space, not just in Hong Kong, but everywhere in the property space is digital transformation. But the digitalization of the sector has been very, very slow. In fact, it’s probably the second least digital sector in the world after agriculture, which is unbelievable, given how big the sector is globally and everywhere. So, as we discovered that more and more agencies were telling us, we don’t have the software that serves our needs, and we have multiple systems and did not connect properly, we decided that building a system of software that can cater at the enterprise level for agencies and agents and developers is a really great idea for Asia in particular. We’ve seen probably a massive increase in proptech investment globally. So in 2012, investment in proptech was only $200 million, hardly anything, right? This is 2012, when the world was digitising at a rapid rate, and they spent $20 million on PropTech until last year was about $8 billion. So that shows you the growth of what’s in the market today. The problem being that 95% of all of that investment is not in Asia, it’s in the US and in the North America. So the opportunities to digitise Asia was huge for us. So we knew that with all of the developments on PropTech, from the developed countries and Western economies, they hadn’t really thought about the intricacies and uniqueness of Asia when the develop into product, which is why when we talk to our agencies and clients, they tell us that, there are software out there in the market, it just doesn’t really fit our needs, it just doesn’t really work. So we decided what we need to do is: two and a half years ago, go on to the market, build a product best in class, we find the best things out there, build a best in class and and uniquely position that for Asia, because we know that this is a really, really highly complex market, the kind of assets that we build are different. We build lots of towers, communities of towers in big major, major areas, and there’s a huge amount of transactions and a lot of data everywhere. So we knew that we had to cater for that. And once we’ve done that, I think you know, to translate that and across all around the world, globally, we will be the easiest task.

Darren Wong: I see. Can explain the current state of how real estate professionals engage with clients, and how does Property Raptor startup can improve the whole process of it a bit?

Justin Lau: Sorry, can you repeat that again, sorry Darren. I just missed out.

Darren Wong: Yeah. Can you explain the current state of how real estate professionals engage with their clients and how your startup can improve the whole process?

[00:04:33] Justin Lau: [00:04:33] Yeah. So actually the way that they engage with clients is actually very, very traditional. Yes, they pick up the phone, they send some emails, they send some SMS, and it’s all within their own Gmail accounts, and phones and so on. And even in some instances, developers and agencies are working on Excel spreadsheets, or sharing documents. In an advanced version, they would be sharing documents in Google Docs. And in some cases, developers are faxing inventory to the agency using fax. I didn’t know faxes still exist in today’s world, but that’s exactly what’s happening. Agents are typically handling multiple projects at the same time. So if you’re thinking about new developers or new developments agents are handling multiple developments at the same time, with thousands of units, particularly in Asia, for them to understand the client lists who needs what, and who wants what and, with thousands of units available at any one time for them, it’s almost impossible for them to handle those kinds of lists. The statistics is that an agent will probably spend three or four hours a day just trying to match up clients with inventory, which is incredible, right? These are things that they do every single day. And what they really need is a system to help them automate a way their processes, the process of automation of any repetitive tasks is key to what they need. So they can spend more time with the clients and selling real estate, and nothing really help them to do that. So what we did at Property Raptor was to develop this system, and it was developed by IMS, it’s one of the largest digital agencies in Asia with the most software developers as an independent firm, is to build a system that really helps the agencies match up the right clients with the right assets, but also the other way around, match up the right assets with the right clients. So you would think they are one in the same but they’re not, so as new information comes in, an agent wouldn’t then go and try to find clients that fit them, what we’ve tried to do is to use kind of advanced AI and data query, and use machine learning within our property Raptor system to help match clients with assets and then with assets with the clients. This  is not purely the screening functions that you see in all the other portals. Darren can be always finding a three bedrooms, two bathroom with a balcony, in a specific area of town. But what we do is we use fuzzy logic, AI, in order to find the most appropriate assets for those clients. What you’ll find actually is that around 50% of clients, what they end up buying, doesn’t fit the spec of what they told the agent in the first place. So if what they buy isn’t what they told the agents in the first place, how the agent supposed to find the right kind of asset for them? So with our system, agencies will be able to use the digital assets, like the websites and portals and apps, in order to track the behaviour of those clients. And then using that, [00:07:30] to match up the correct assets and apartments for the buyer.

Darren Wong: It’s very interesting, because we talked about the whole journey, I can even envision myself and before I talk to different people about property tech, is pick a hard time to understand, and a lot of agents that I know, and brokers have the same problem. So it’s a lot of things to do, a lot of mini manage, a lot of things going on is really hard to understand CRM systems sometimes, because at the moment,  a lot of your answers are very complicated for them, it’s a lot of things to juggle. So it’s interesting when you think about that. So what’s the challenge when introducing to real estate companies and professional when it comes to talking about Property Raptor and their product you guys are selling?

[00:08:14] Justin Lau: I think the challenges are different in different locations. So in Asia, for example, I think this is where this is where we are based to, and this is our backyard. And we decided to do this because we saw a massive gap in Asia. And so in Asia, the issue is that they’re not really even using software. What do we do in Asia, and Hong Kong and Singapore, or Vietnam and Indonesia is, agencies tend to throw headcount at a problem, right? They have more developments to sell. They just hire more people because they are cheap. Hire more people, and stand outside IFC, or some big building or landmark and hand out flyers, and hope they can catch on clients in that way. So one of our key challenges is essentially to educate the client and to demonstrate how our product can address most of the problems and the pain points. So at the moment, we’re within a round of fundraising, so that we can expand ourselves on broader teams, so to further support our clients demand and, and truly show the capabilities of our platform and really empower them to generate more sales quickly. So our model is really to help them close deals faster. And as you’ve seen, I think, in this Coronavirus environment, in this pandemic, all industries are digitising very, very quickly, because they’re seeing their revenues crunched up, businesses are being squeezed, and they try to find a way in order to either maintain market share, or just to not lose so much money. And what we try to do in Property Raptor is to increase efficiency and effectiveness of the sales team that are running real estate agencies. And so that’s one of the challenges is really just to educate and demonstrate our product in Asia. I think most agencies now if they are of a reasonable size, understand that they need more technology, I think it’s an  inescapable fact. Now, in other regions, I think our path to generating adoption may be a little easier, because I don’t need to educate. In Europe and in the US, they are already paying for CRM systems, and software systems, they’re paying for a CRM system, and lead generation system, marketing automation, inventory management, they’re paying for all of these things already. So in those instances, our challenge really is to demonstrate the product, to demonstrate how much more productive they can be, how having a fully integrated all in one system really meets their needs, as opposed to them trying to hack together a solution and trying to kind of overlay linking up multiple systems, where they have the same data sets in multiple different systems, and it just really doesn’t work for them. Because how do they keep data sanitised? They can’t even do that. So it’s different challenges we have in different places. But I think what’s really clearly shown is that the opportunity is big no matter where the clients are.

Darren Wong:  I see, that was really good. Because even I feel the same way is that I think Asia for example, a lot of opportunity, because a lot of people do want to innovate in the process. And I think what you’re offering right now, it sounds really, really cool. And I think it’s gonna be a very good way. So I’m curious too, as a founder, obviously, you envision about what Property Raptor will become, what do you think, three years or even more than that, how would Property Raptor serve and benefit the clients, and how do you envision to develop into?

Justin Lau: Yeah, so at the moment, we are Property Raptor is essentially a SAaS, software as a service. And we are seeing that a lot of agencies are signing up dozens of agents at a time, and we’re getting good traction in just solving an immediate problem for each of those agents, so they get  adoption. And over time, as we grow the sales team, I’m sure that we’ll grow quickly into different countries in different regions. You know, we’ll be able to localise languages and compliance rules and so on, we’re already doing that. One of the most interesting parts of Raptor is the ability for all Raptor instances and all Raptor users to be linked to each other. So that’s through our blockchain technology. And so in our case, if you have an agency in the UK with infantry that they want to sell, but they have nobody to sell it to, it would be very easy for them to connect with agencies in Hong Kong or China, where there are clients, and the AI can figure out, you know what, you have these assets in the UK from a different agency, or I’m gonna have these clients in this region of the world, and they match together, right? Or you can have developers who would have developed a module off Property Raptor, and they could release the inventory through the blockchain to agencies from around the world, instead of what they do now, instead of flying around to Hong Kong and China and Australia and New York, and setting up showrooms and events in hotels, and paying hundreds of thousands of dollars just to throw an event. And so in this way, the blockchain technology allows different instances of Raptor to connect to each other, which we hope eventually anyway will become the largest blockchain property listing portal anywhere in the world. And I think that’s the real value of what we have is not just as a CRM SAAS platform, this is not just a CRM, I mean, we are CRM on steroids here, which is a CRM plus lead generation, lead nurturing, marketing automation, inventory management system, all in one. So that in itself is compelling for clients. But the ability  to link up all of those instances together and allow the clients that wish to be connected with other Raptor agencies and developers to connect with each other is generating huge value. And I think, you know, we will create a massive community network of agencies and developers, but really all because they wanted to solve an immediate CRM lead generation, marketing automation problem.

Darren Wong: I see. I sound really excited, because I think a  lot companies want to have the innovations that I think, obviously, you’re one of the players in Hong Kong or in Asia that wants to actively do that. So for people who are interested to know more about Property Raptors and about your work, how to get people to find out more about it and talk to you?

Justin Lau: Well, obviously, we have a website that everybody can go into, propertyraptor.com. There’s a lot of information on that. You can book yourself a tour of the system and it will happily run through demos. We do literally dozens of demos a week, and to all kinds of different clients around the world. We’re catering for all kinds of agencies. And when we first came into this, we probably didn’t realise the different agency verticals that exist in the market, there’s master agents, international associations, domestic sales actions, domestic developers, agencies that sell domestic developments to projects to a domestic buys overseas, to local buys, it is all kinds of different agencies, and large and small. And so we are attracting a lot of different agencies in just through our website to book tours and sign up to Raptor.

Darren Wong: Thanks a lot for your time. I think a lot of people will benefit from that. And hopefully come on board another show next time.

Justin Lau: No problem at all. Thank you, Darren.

Darren Wong: Thank you. Have a good day. Thanks.

Darren Wong:所以Justin,歡迎你來到本集節目。

Justin Lau:謝謝Darren邀請我。

Darren Wong: 是的,所以這真的很令人興奮,因為我聽說了很多關於你們的事情。你們正在做的事情很了不起,推動了香港的房地產科技領域。這個產品聽起來真的很酷。所以顯然有這個機會能邀請你來到這個節目真的很好。所以在開始前,你介意向觀眾介紹一下你自己,以及是Property Raptor嗎?

Justin Lau: 當然,我在大約兩年半前創立了Property Raptor,我在過去的工作,實際上是在金融和銀行領域。所以我做了十多年的銀行家,在資本市場工作,和客戶談論銷售股票,並為他們提供買賣建議,隨後進入私人股權領域,在科技領域和私人股權方面做了大量工作。你知道,實際上是兩年半前,我萌生關於Property Raptor的念頭。我們在那個領域做了大量的投資。我們從很多不同的機構和不同的市場投資者都會告訴我們他們認為房地產軟件領域的服務確實不足,特別是在亞洲。尤其是,我的一個好友在大灣區經營一家代理商。他說,他不能進一步擴張業務的最大原因是,軟件並不能滿足他們管理更大業務的需求。這就是啟發有關Property Raptor的想法的原因。

Darren Wong: 我明白了。這真的很有趣,因為很多人都在想,你怎麼才能讓房地產經紀人有一個更好的接洽流程?所以,你能詳細說明一下Property Raptor的起源嗎,以及客戶關係管理系統以及關注客戶關係管理系統為何對房地產企業如此重要?

Justin Lau:大家都知道香港是一個全球化的大城市。最重要的產業是金融、財產和零售業等。但在這個都市裡真正落後的,尤其是在房地產業,不僅在香港,而且在全球任何地方的房地產業的阻礙都是轉換到數位化的過程。但這行業的數位化的過程實在非常非常緩慢。事實上,它可能是世界上僅次於農業為數位化進程中倒數第二的,這令人難以置信,鑒於這行業在全球和世界各地的規模有多大。所以,當我們發現越來越多的機構告訴我們,他們沒有滿足他們所需的軟件,他們有多個無法正確連接的系統,我們决定建立一個能够在企業級為機構、代理和開發人員提供服務的軟件系統特別對於亞洲來說,這是一個非常好的主意。我們已經看到在房地產科技投資的全球性大幅增長。在2012年,房地產科技的投資只有2億美元,幾乎什麼都沒有,對吧?這是2012年的數字,當世界正在飛速數位化,而他們在房地產科技上花費了2000萬美元,到去年為止大約是80億美元。所以這向你展示了當今市場的增長。問題在於那95%的投資並不在亞洲,而是在美國和北美。因此,我們在亞洲有很多發展數位化的機會。所以我們知道,隨著已開發國家和西方經濟體在房地產科技方面的所有發展,他們並沒有真正考慮到亞洲的複雜性和獨特性,特別當他們建立這些產品時,這就是為什麼當我們與我們的代理商和客戶交談時,他們告訴我們,市場上有軟件,但實際上它們不太符合我們的需要,亦起不了什麼作用。兩年前,我們决定我們要做的是, 在市場上尋找最好的產品,最好的東西,為亞洲獨特的位置建立一個一流的產品,因為我們知道這是一個非常非常複雜的市場,我們所建的房地產的種類是不同的。我們建造許多高樓,在主要的城市建造了許多高樓,到處都有大量的交易和大量的數據。所以我們知道我們必須將這些納入考慮。一旦我們做到了這一點,我想你知道的,把它應用到世界各地,全球範圍內,將是我們最容易的任務。

Darren Wong: 我明白了。可以解釋一下房地產專業人士與客戶接觸的現狀,以及Property Raptor能夠如何改善整個過程嗎?

Justin Lau:對不起,你能再說一遍嗎,對不起,Darren。我剛錯過了。

Darren Wong: 是的。你能解釋一下現在房地產專業人士如何與客戶接觸的狀況,以及您的初創公司將如何改善整個過程嗎?

Justin Lau:是的。所以實際上他們和客戶打交道的管道是非常非常傳統的。是的,他們使用電話,發些電郵,發短信,這些都是他們自己的Gmail帳戶和電話等等。甚至在某些情况下,開發人員和代理機構正在開發Excel試算表,或者共享文件。在更進一步的情況,他們將在Google Docs中共享檔案。在某些情况下,開發商使用傳真將庫存清單傳真給代理商。我不知道今天世上還存在文件傳真,但這正是還在發生的事情。代理商通常同時處理多個項目。所以如果你在考慮新的發展商或新的開發專案,代理同時處理多個開發專案,接近上千個單位,特別是在亞洲,他們要瞭解客戶清單上,誰需要什麼,誰想要什麼,而且由於在任何時候都有數千個可供使用的單位,他們幾乎沒有辦法處理這些清單。根據統計,一個代理商每天可能要花三到四個小時來匹配客戶和庫存,這太難以想像了,對吧?這些都是他們每天所做的事。而他們真正需要的是一個系統來幫助他們自動化他們的流程,自動化任何重複性任務都是十分關鍵的,針對於他們需要什麼來說。這讓他們可以花更多的時間和客戶在一起,銷售房地產,而沒有什麼能真正幫助他們做到這一點。所以我們在Property Raptor所做的就是開發這個系統,它是由IMS開發的,它是亞洲最大的數位機构之一,作為一個獨立的公司它擁有最多的軟體發展人員,為了建立一個能夠真正幫助代理商將正確的客戶與正確的資產匹配起來的系統,但反過來,也可以將正確的資產與正確的客戶匹配起來。所以你會認為他們是一體的,但他們並不是,所以當收到新的房地產資訊時,代理不會去尋找適合它們的客戶,我們所做的是使用先進的人工智慧和資料查詢,並在我們的Property Raptor系統中使用機器學習來幫助客戶匹配資產,然後與客戶匹配資產。這個不是您在所有其他網站上看到的基本篩選功能。Darren可以一直在找一個三臥室,兩個的浴室,帶陽臺,以及在鎮上特定的位置的單位。但是我們要做的是使用人工智慧,運用模糊邏輯,為這些客戶找到最合適的房地產。你會發現事實上,大約有50%的客戶,他們最終購買的東西,並不符合他們最初告訴代理商的規格。所以如果他們買的不是他們告訴代理商的條件,代理商應該如何為他們找到合適的資產?所以有了我們的系統,機構就可以數位化資產,如網站、入口網站和應用程序,以追蹤這些客戶的習慣。然後用這些資訊[00:07:30]為買家匹配正確的資產和公寓。

Darren Wong:這非常有趣,因為我們談過了這整個過程,我甚至可以想像自己,在我和不同的人談論房地產科技之前,我花了很多時間去難理解這個難題,而且我認識的很多經紀人和經紀人都有同樣的問題。所以有很多事情要處理,很多細微的管理,太多方面令CRM系統有時候很難理解,因為現在,你的答案對他們來說大多很複雜,給了他們很多要處理和理解的事情要。所以當你想到這一點時很有趣。那麼,當介紹給房地產公司和專業人士時,你遇到什麼挑戰呢,當你想談談你們正在銷售的Property Raptor和你們的產品的時候?

Justin Lau: 我認為在不同的地方面臨的挑戰是不同的。例如在亞洲,我想想這就是我們的基地,這是我們的後院。我們决定這麼做是因為我們看到了在亞洲的巨大差距。所以在亞洲,他們甚至沒有用任何軟件。我們在亞洲做什麼,香港和新加坡,或越南和印尼,代理商往往會把問題歸咎於員工人數不足,對吧?他們還有更多的樓盤要出售。他們只會雇傭更多的人是因為他們很便宜。雇傭更多的人,站在國際金融公司(IFC)或一些大型建築或地標外發放傳單,希望他們能用這種管道抓住客戶。因此,我們的一個關鍵挑戰疾病上是教育客戶並展示我們的產品如何解决大多數問題和痛點。因此現時我們正在籌款,這樣我們就可以在更廣泛的團隊中擴展自己,從而進一步支持客戶的需求,並真正展示我們平臺的功能,真正使他們能够快速產生更多銷售。所以我們的模式是幫助他們更快地達成交易。正如你所看到的,我想在這種冠狀病毒的環境下,在這場全球大流行的疫情中,所有行業都在非常非常迅速地數位化,因為他們看到了他們的收入縮水,企業受到擠壓,他們試圖找到一種方法,要麼保持市場份額,或是減少金錢損失。我們在Property Raptor中所做的是提高效率以及經營房地產代理的銷售團隊的有效性。所以這就是我們面臨的挑戰之一就是在亞洲教育和展示我們的產品。我認為現在大多數有合理規模的機構,明白他們需要更多的科技,我認為這只是一個不可避免的事實。現在,在其他地區,我認為我們的推廣途徑可能會更容易一些,因為我不需要教育。在歐洲和美國,他們已經在為CRM系統和軟件系統付費,他們正在為CRM系統和潛在客戶開發系統行銷自動化、庫存管理等系統付費,他們已經為所有這些東西買單了。因此,在這些情况下,我們真正的挑戰是展示產品,展示它們的更高的生產效率,一個集的多功能於一體系統能夠如何真正滿足他們的需求,而不是他們嘗試將多個系統連接起來,勉強拼凑出一個解決方案,當他們在多個不同的系統中擁有相同的數據,所以這對他們來說真的不起作用。因為他們如何能夠確保數據能被永久移除?他們甚至不能這麼做。所以我們在不同的地方面臨著不同的挑戰。但我認為實際上是很清楚的,無論客戶在哪裡,我們的機會都很大。

Darren Wong: 很好。因為甚至我也有同樣的感覺,比如說亞洲,機會很多,因為很多人確實想在這個過程中創新。我覺得你現在提供的產品,聽起來真的、真的很酷。我覺得是會是個很好的方法。所以我也很好奇,作為一個創始人,很明顯,你預期Property Raptor未來的發展會怎樣,你怎麼看三年或更長的時間後,Property Raptor將如何為客戶服務並使其受益,您有什麼關於未來的發展的設想?

Justin Lau:[00:11:39]是的,所以現在,我們Property Raptor本質上是一個SAAS(軟件即服務)。我們看到很多機構一次於幾十個代理簽約,而我們有辦法可以很好地解决每個代理即時的問題,而他們會習慣使用我們的系統。隨著時間的推移,隨著我們銷售團隊的不斷壯大,我相信我們會迅速發展到不同國家和地區。你知道,我們可以切換成當地語言和配合當地法規和規則等等,而我們已經在做了。Property Raptor最有趣的部分之一是給予所有分布於不同地方的和所有Property Raptor用戶和彼此連結的機會。這是通過我們的區塊鏈科技。所以在我們的案例中,如果你在英國有代理商有房地產想出售,但是他們沒有合適的買家,所以他們很容易就能夠與香港或中國的代理商聯系,如果這些地方有客戶,AI可以發現,你知道嗎,你在英國有來自另一個代理商的資產,或者我會有這些客戶在世界的不同角落,而我能夠讓他們在配對一起,對嗎?或者你可以讓開發人員開發一個脫離Property Raptor以外的模塊,他們可以通過區塊鏈向來自世界各地的代理商發佈庫存,而不是他們現在運作模式,飛到香港、中國、澳大利亞和紐約,設立展廳及在飯店舉辦活動,為舉辦一個活動支付數十萬美元。因此,區塊鏈科技允許不同Raptor用家相互連接,我們希望最終它將成為世界上最大的區塊鏈房地產上市系統。我認為這才是我們的產品所擁有的真正價值,不僅僅是作為一個CRM SAAS平臺,這不僅僅是一個CRM,我的意思是,我們是一個比CRM更出色、有潛力的產品,這是一個CRM再加上潛在客戶開發、潛在客戶培育、行銷自動化、庫存管理系統,所有這些都在一個功能中。所以這本身對客戶來說是很有吸引力的。但是能夠將所有這些功能連接在一起的能力,並允許希望與其他Property Raptor機構和開發人員連接的客戶彼此連接會創造巨大的價值。我想,你知道,我們會為代理商和發展商建立一個龐大的社區網絡,但實際上都是因為他們想解决CRM的潛在客戶開發、行銷自動化問題。

Darren Wong: 我明白了。我聽起來真的很令人興奮,因為我覺得很多公司都希望有創新的科技,我認為,很明顯,你是在香港或亞洲的開發者之一而你希望大家積極地這樣做。因此,對於那些有興趣瞭解更多關於Property Raptors和你的工作的人,他們能夠任何瞭解更多關於它的資訊並與你交流?

Justin Lau: 顯然我們有一個人人都可以進入的網站,propertyraptor.com,網站上面有很多這方面的資訊。您可以為自己預約一個系統教程,它將愉快地進行演示。我們每週做幾十個演示,面向世界各地不同的客戶。我們為各種機構提供服務。而當我們第一次進入這一領域時,我們可能沒有意識到存在著不同的代理市場在市場上,有主代理、國際代理、國內銷售機構、將國內開發專案銷售給在海外本土買家的機購,以及本地買家,有各種各樣的機構,有大有小的規模。所以我們吸引了很多不同的機構只需通過我們的網站預訂並註冊成為Raptor。

Darren Wong: 非常感謝您抽出時間。我想很多人會從中受益。而且希望你能參加下一次的節目。

Justin Lau:沒問題。謝謝你,Darren。Darren Wong: 謝謝。祝您今天過得愉快。謝謝。

Categories
Market Updates 未分類

Denzity Insights: Choosing The Right Mortgage Like A Pro with Roots


Choosing The Right Mortgage Like A Pro with Roots

The mortgage is undeniably the aspiring property-owner’s go-to; so today we have people from Roots ready to explain the sometimes confounding process of applying for a mortgage.

Key Discussions: 

▶ The Process to Obtain a Mortgage

▶ Tips for Getting a Mortgage for the First Time

▶ Roots’s Vision

▶ Connect with Roots (Kyle Yeung/Joe Cheng):

▶ Source & Supporting:

Mortgage: A mortgage is a debt instrument, secured by the collateral of specified real estate property, that the borrower is obliged to pay back with a predetermined set of payments. https://www.investopedia.com/terms/m/mortgage.asp 

Maturity Date: The maturity date is the date on which the principal amount of a note, draft, acceptance bond or other debt instrument becomes due. https://www.investopedia.com/terms/m/maturitydate.asp 

Approval in Principle: Approval in principle (AIP) is an agreement stating a bank’s promise to lend you money for a home loan. https://bit.ly/3nahNDA 

Mortgage Consultants: Essentially, mortgage consultants exist to help people or businesses to find the right mortgage. https://bit.ly/35kN5Si 


Stress test (mortgage): In finance, planning for a worst-case scenario is called a stress test. It involves modeling a bad scenario before an investment is made. https://www.ratehub.ca/blog/how-to-stress-test-your-mortgage/ 


Collateral: A collateral mortgage is a type of loan secured against the borrower’s property (home) https://bit.ly/36rM8a6 


Deposit: an amount of money that you pay as the first part of the total payment for something: https://dictionary.cambridge.org/dictionary/english/deposit 


Subsidized Public Housing: If you live in public housing, the housing authority owns your building and is your landlord. https://www.masslegalhelp.org/housing/public-subsidized-differences 


Off-Plan Property: An off-plan investment strategy consists of purchasing a property before it has started construction. https://winsoncapital.com/blog/what-is-off-plan-investment/ 


Loan Ceiling: A loan ceiling is the maximum amount that a financial institution will lend an individual, family or business. https://bit.ly/3krgL4i 


Hong Kong Inter Bank Offer Rate (HIBOR): The Hong Kong Interbank Offered Rate, known by its abbreviation HIBOR, is the benchmark interest rate, stated in Hong Kong dollars, for lending between banks within the Hong Kong market. https://bit.ly/2IrTiCP 


Cash Rebate: With a cash back mortgage, your lender advances you a cash lump sum when your mortgage closes.  https://www.ratehub.ca/cash-back-mortgages

Taipei FinTech Week: https://www.fintechtaipei.tw/en/ 

Supporting:

Blog.hkroots.io: https://blog.hkroots.io/ 

▶ Disclaimer:

This disclaimer informs readers/audience that the views, thoughts, and opinions expressed in the text/video belong solely to the author & participant, and not necessarily to the participant’s employer, organization, committee or other group or individual. 

As it can be difficult to catch some minor errors, transcripts may contain a few typos or inaccuracies.

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Alright, let’s get back to the transcript of the show. Enjoy!

▶ Transcript [English & Chinese]

Darren Wong: So hey, everyone. Welcome to the show.

Joe Cheng: Hi.

Kyle Yeung: Hi, how are you doing?

Darren Wong: Very good. Very good. So I want to say thank you for coming on, because mortgage is a very big topic in real estate for sure. And then, not many people actually tackled that, except for the traditional professional like bankers, and so on. So having someone like you guys, which is very interesting product. I think it’s very cool idea. And then thanks to Elliott for introducing us together. I think that the audience will appreciate to learn more about mortgages and how to do it for first-time buyers. So start from the beginning, would you mind telling us about your background? Let’s start with Joe and then Kyle.

Joe Cheng: Okay, sure. Thank you there for the opportunity. So my name is Joe, and I’m a co-founder of Roots, together with Kyle who is also here today. So a little bit description about my service. After I graduated from the UK, I came back to Hong Kong, started to work for private banks, one of the Swedish private banks in Hong Kong, for around four and a half, five years. Then, I feel like big corporates might not be the thing for me for the future, or for my career. So I started doing an MBA in HKUST, where I meet Kyle. So together, we both are the ones who don’t want to work for big corporates and want to start something for ourselves. So together with some of the background that Kyle might talk to you about later on his profile, we started Roots, because we think that we have the network and we have the intelligence or the professional background to help Hong Kong homebuyers to get their mortgage done as soon as possible and as fast as they can to make sure that they can complete the whole process online.

Darren Wong: Kyle, how about yourself?

Kyle Yeung: So, I graduated from the USA. And then I came back after graduation. Similar to Joe, worked in big corporates for a couple of years, I was in accounting and finance field. And then after a couple years, I just thought that time tech was booming, and I want to learn more about how startups work and all that. So I decided to go into MBA, and I met Joe there, and actually joined, I actually went through a lot of ideas on what sort of startups that we can potentially start. And our experience taught us that mortgage is something that a lot of people know about, but also at the same time don’t know about. For example, one of our common friends who went through the mortgage process with a very strong solid background, but ended up almost losing her deposit for the property because the mortgage process pretty much sort of screwed her up, without the lack of a better term, because of the complication and all that. And we found out Joe, and our knowledge was able to help the process to refine and make it more simpler, make it more straightforward for the people in Hong Kong who wants to purchase property. So that’s how we started and it’s been a year or so and things have been going well so far. So yeah, now, here we are. We’re hoping to expand our company in the next year or two.

Darren Wong: Yeah, when I learned about your business, it’s a really cool idea is something that like, Oh, I never thought that would be for us. That is such as something that you think that in 2020, people already built that product out. But no one’s doing that except for you guys so far. So before coming, talking about Roots, your company and what do you guys do, would you mind telling the audience who might not be familiar about the mortgage landscape in Hong Kong?

[00:03:52] Kyle Yeung: [00:03:52] So basically, mortgage is like a loan for property owned or purchased as a collateral, so the loan is secured against the value of your home until it’s paid off. And given Hong Kong is the number one, or most expensive city to live in the property price are close to USD 2K per square feet on average, and 90% of the property purchase in Hong Kong requires a mortgage. So because how expensive it is, not many people can full pay the property upon purchase, and the average mortgage size is around 4 million Hong Kong dollars. That being said, we found out a lot of potential buyers do not understand what mortgages as I said and how to obtain a mortgage, resulting in over 300, 400 cases of forfeit of deposit a year and adds up to 400 million Hong Kong dollars in 2019 alone. So on average, we’re talking about at least 1 to 2 case of forfeit of deposit that happened last year.

Darren Wong: I see. So what’s the process to obtain a mortgage? When should you do so within the real estate investing process, and for that, how does Roots help in the whole process?

[00:05:14] Kyle Yeung: So oftentimes in Hong Kong, investors will apply for a mortgage from the banks in Hong Kong after they place their initial deposit for the property they want to purchase. And the mortgage application process can take anywhere from two weeks to two months. Therefore, like we always encourage our investors, homebuyers to act on the mortgage application as soon as they place their deposit and allow sufficient time to complete the purchase. The day that a buyer usually has to pay the outstanding amount to the seller is around 90 days in general. So usually the application process which takes two weeks to two months will be sufficient to process the property purchase process. Some part of the world is very different. They have something what we call “approval in principle”, that means that the potential homebuyers can go to a bank before placing a deposit for the purchase and get a pre-approval that says how much the bank is willing to loan you. So with this, the buyer can confidently place deposit on a property based on the pre-approval loan amount. So as we see the difference here, the biggest risk we see for homebuyers and investors in Hong Kong is that they have to place a deposit first, and check with the bank to see whether the bank is willing to provide them a mortgage. And oftentimes we see that homebuyers fail to obtain mortgage from a bank and have to forfeit the deposit place because they don’t understand the process and how things work. So we encourage homebuyers to talk to mortgage consultants like us, because we work closely with the banks, we are familiar with the process and we can do all the numbers crunching beforehand to make sure the buyer profile fit within the bank’s approval guideline. And at the same time, we can increase the approval rate. So lower the risk at the same time.

Darren Wong:I see. So for typical mortgage, for an apartment or a house, what should a homeowner expect to get? I mean in terms of rates, LTV and payment term, etc.

[00:07:30] Joe Cheng: [00:07:29] So in Hong Kong, nowadays homebuyers can get up to a loan of 90% for private estates and 95% for subsidies public housings. In order to get the maximum 90% of mortgage, the homebuyer has to have no property under their name, as well as the property price has to be below 10 million Hong Kong dollar. Anything about 10 million Hong Kong dollar we have a maximum loan ceiling of 50% of the property price. For interest rates, as of now, August 2020, it will be around 2% or 2.5% total, depending on the HIBOR, what we call Hong Kong interbank offered rate, and the payment term can go up to around 30 years maximum. Also, bank offers cash rebates to new mortgage applicants to attract the patients some cash rebate would be up to 1% of the loan amount approved, but the cash rate going down right now because of the uncertainty over the market. So you expect around 0.2 to 0.5% of the total loan amount approved.

Darren Wong: I see. And so how does the lender assess a project and how the key terms vary?

[00:08:40] Kyle Yeung: [00:08:40] That is a very good question. So, the banks usually look at the two big things. The first thing is the property, the security, the collateral, and at the same time their customer profile. In terms of the property, the bank will assess based on the type of the property and the age of the property. Banks typically favour private estates, such as Tai Koo Shing. These are private estates. They prefer these over village house or tenement buildings, which we call Tong Lou, the ones without the elevator. Applying for a mortgage usually using a favoured  property as collateral, will likely allow the borrower to obtain a more favourable terms such as a longer term loan or a lower interest rate. On the other hand, the bank will assess the lenders’ profile based on their income, their age, the credit score, and banks typically favour applicants with stable income and they have a tighter policy for self-employed applicants and older advocate applicants in terms of age will typically lead to a shorter long term. So again, for anyone who’s interested in the property to purchase, looking for mortgage, it’s better to ask for a mortgage consultant beforehand, make sure that they can get the maximum loan amount that they can.

Darren Wong: So on that note, how about for married couple or a family with a kid, or let’s say different income level of the household, how does that affect the people as well?

[00:10:26] Kyle Yeung: Well, typically, if I tell you a married couple wants to purchase a property together, the banks will access them together. They will assess both of their profiles in terms of their income, and their age and the credit score together. If let’s say one of the applicant is younger than the other, they will usually take the lower age and they will take both of their income together as the total household income and because of that, with two sets of income, usually married couples will be able to purchase a property with the higher value compared to a person who is a single-person household.

Darren Wong: I see. So what are some points to know for first-time buyers who was applying for a mortgage? Any tips for them?

[00:11:22] Joe Cheng: [00:11:22] So I guess there are three major points for first-time homebuyers. The first one is obviously affordability. So as Kyle just mentioned, there was a household income so called “stress tests” required for anyone who wish to purchase a property in Hong Kong, that applies the mortgage. To put it in the simplest term, for every 10,000 Hong Kong dollar of salary, it will get you around 1 million Hong Kong dollar worth of mortgage loans. So given that there’s no other outstanding repayment that will be the simplest term in order to calculate the stress test. The second point will be choice of banks. So there are so many banks in Hong Kong that offers mortgages, and the Big Four will be called HSBC, Bank of China, Hang Seng bank and Standard Charter, they are the better ones with better process and faster approval timeframe. Most of the mid-tier banks will have a better cash rebate as what we just talked about to attract clients, but they’re more picky in terms of property type, and at the application profile. The third point will be documentations. So the below will be mandatory documents required from every bank to apply for mortgage, including your identity proof, which normally would be the Hong Kong ID, salary proof, your tax receipt, the latest three months of bank statements as well as the sales and purchase agreement, these documents are necessary in order to kick start the application. Other banks might have required follow up documents, depending on the situation and applicants to facilitate the approval process. So I guess these are the three main points: affordability, what banks are you going to apply, and what documents you need before you are going to apply for a mortgage?

Darren Wong: I see. So obviously, I look into Roots, and saying that you guys are solving the troublesome of applying for mortgage application one by one. So can you tell us more about how you guys help the home buyer to approve his process and secure the mortgage?

[00:13:21] Joe Cheng: Okay, so as what Kyle has said, we saw a lot of forfeit of deposit or mortgage reject cases in the last few years. Actually, there are around 400 case every year. So as we are talking right now, there’s possibly one case out there, who just forfeit the deposit because of mortgage rejection. So at Roots, we can help to solve this rigid and untransparent mortgage process by reversing the existing journey in Hong Kong. As what Kyle has said there was there are some sort of “approval in principle” elsewhere in the world, but not in Hong Kong. So by first knowing what banks are willing to offer you before placing your deposit. With our risk engine, we can help eliminate the risk of unsuccessful purchase due to denied mortgage applications, making sure that you have the right application for the right bank to complete your home purchase.

Darren Wong: I see. So obviously, as a proptech founder like myself and you guys, how do you envision room to grow into? What kind of scalability to features and so on like that?

[00:14:25] Kyle Yeung:  So while we started off in Hong Kong because we’re born and raised here, we actually visited Taiwan end of last year and attended the Taipei FinTech week, and we realised that’s Taiwan could be our next expansion point. Taiwan is actually very similar to Hong Kong in terms of demographics through a large portion of up and rising younger population, which faces daily challenges and getting a mortgage and property because of the complicated process. So while their pain points might be similar, but not exactly the same, but having said that our solution and our experience in Hong Kong understanding of the banking system in Hong Kong, maybe we can apply our solution with a little tweak and apply it in Taiwan. But I mean, having said that, we have what we hope that we can complete our R&D and revamp by the end of this year, which is happening soon, so stay tuned, and establish our roots in Hong Kong. So once we build a solid foundation in the local market, I think, by the end of maybe next year, we’re ready to expand into other locations, and or any other places in the world.

Darren Wong: That’s really cool. Because I think you guys keep the tagline to Expedia, for finding mortgage. And I think that’s so cool that you even can do that. So I think I have some side question for you guys. Have you thought of, for example, there’s some houses might be looking for a second lien or third-lien loan, will you guys consider that and are you guys sticking with residential, and then or going expand for different asset and property type?

Kyle Yeung: As of right now, just in Hong Kong, most of our transactions are focused in residential properties, technically speaking, if any customer coming into us, asking us to help them out looking for a mortgage, actually any type of property we can do. So it’s basically the same process for us. But then again, since most of the transactions are focused in the residential properties, so I would just tell you that our focus right now will still be the residential market.

Joe Cheng: So I guess, what we want to say is Roots is an online robot advisory platform, which allows homebuyers to apply and compare mortgage, just like you said, as simple as booking a trip on Expedia. The second thing is typical mortgage property purchase is risky, and it requires homebuyers to place deposit before they apply for mortgage in Hong Kong, which is not the ideal way to do it. However, it is the way and we have to stick to it. And we’ve tried to reverse the process by using Roots to help analyse your profile, and increase your mortgage approval rate through our predictive algorithm. And that’s what we are trying to do right now, to help people bring back their roots to Hong Kong.

Darren Wong: I see. And I’m sure like for a tech product, I think it’s very interesting because it’s more consumer facing, and I think where people are stuck at is people that don’t have the luxury to learn the knowledge, and then to understand the process. So you know, I’m sure a lot of people will get benefit from your product. So what kind of take away would you want the audience to have from this video?

Darren Wong: I see. For people who want to talk to you more about the subject, and then your service and so on, what’s the best way you suggest them to reach out to you?

Joe Cheng: So if they’re interested to know more about how to purchase a home, or how to apply for a mortgage, you can reach out to us through WhatsApp at 97872498, or our email compare@hkroots.io. So feel free to reach out to any of these emails or WhatsApp, Joe, myself and Kyle will be able to help you with any questions you have.

Darren Wong: I’m sure that I’ll put everything in the show notes. And then obviously, I’ll have a profile for you guys to tell people more about how to do a mortgage in Hong Kong or in Taiwan, for say. And I want to say like thanks for coming in. And then there are actually a lot of questions about mortgage I want to ask you more, but we’ll leave it for round two in the future then.

Kyle Yeung: Sounds good. Appreciate for the opportunity.

Darren Wong: Yeah, no worries. And then I got the next time. Thank you so much. Cheers.

Kyle Yeung: Thank you. Bye.

Darren Wong: 大家好。歡迎收看節目。

Joe Cheng: 嗨。

Kyle Yeung: 嗨,你好嗎?

Darren Wong: 非常好,很好。那我想感謝你來到我們的節目,因為按揭貸款在房地產行業是一個非常重要的話題。然後,除了像銀行家這樣的傳統專業人士,沒有多少人真正解决這個問題。所以有你們這樣的人,你們有這個非常有趣的產品,我覺得這個主意很酷。然後感謝Elliot將我們互相介紹。我認為觀眾將很高興瞭解更多有關按揭貸款以及如何為首次置業者提供貸款。所以從頭開始,你能告訴我們你的背景嗎?讓我們先從Joe開始,然後到Kyle。

Joe Cheng: 好的,當然。謝謝你給我這個機會。我是Joe,我和今天也在這裡的Kyle是Roots的聯合創始人。讓我對我的服務做一點描述。我從英國畢業後回到香港,開始在香港其中的一所瑞典私人銀行工作大約四年半,五年。那麼,我覺得大公司可能不會成為我未來或事業的目標。所以我開始在香港科技大學攻讀MBA,在那裡我認識了Kyle。所以我們都是那些不太想為大公司工作的人,而是想為自己開創事業。囙此,結合Kyle稍後可能會在他的個人介紹中跟你談論的一些背景,我們創辦來Roots,因為我們認為我們有這樣的資源和人脈,我們有智慧或專業背景來幫助香港置業者儘快完成按揭貸款,以確保他們能够在網上完成整個過程。

Darren Wong:Kyle,你呢?

Kyle Yeung :所以,我從美國畢業,畢業後就回來了。跟Joe有點相似,我在大公司工作了幾年,我在會計和金融領域工作。幾年後,我認為當時科技發展十分蓬勃,我想瞭解更多關於創業公司的運作。所以我决定攻讀MBA,我在那裡認識了Joe,事實上加入後,我對我們可以創辦哪些類型的創業公司有了很多想法。我們的經驗告訴我們按揭貸款是很多人都知道但同時又太理解的事情。例如,我們的一個共同朋友有著非常有實力的背景,但按揭貸款的過程幾乎把她搞砸了,我沒有更貼切的描述,衍生的問題讓她幾乎失去了她的首期存款。然後我們找到了Joe,我們的知識可以幫助我們改進讓它更簡單,令那些想購置業的香港人能更直接申請按揭。我們就是這樣開始了一年了,到目前為止一切都很順利。所以是的,現在我們在這裏,我們希望在未來一兩年內擴大公司規模。

Darren Wong: 是的,當我知道你的生意,這是一個很酷的主意,就像,哦,我從沒想過我們會有這個服務。你會認為在2020年,人們早已經建立了這種產品。但到目前為止除了你們沒人這麼做。所以在談談你的公司Roots和你們所做的事情之前,你介意告訴那些可能可能不熟悉香港按揭貸款的情況的觀眾?

Kyle Yeung: 基本上,按揭貸款就像以擁有或購買的房產作為抵押的貸款,所以貸款的價值是以你的房屋價值為抵押,直到你還清貸款為止。考慮到香港是世界第一,或者說是生活開支最高昂的城市,房價平均接近每平方英尺2千美元,90%在香港購買的房地產需要抵押貸款。因為它是這麼昂貴,並沒有多少人能够在購買時全額支付房產,而平均抵押貸款約400萬港元。但話說回來,我們發現很多潜在的買家不明白我所說的按揭貸款以及如何獲得貸款,導致每年超過三四百宗沒收首期存款的例子,單單在2019年,加起來就高達四億港元。所以平均來說,我們所說的是至少有一到兩宗沒收首期存款的例子。

Darren Wong:我明白了。那麼獲得按揭貸款的過程是怎樣的呢?在房地產投資過程中,你應該在什麼時候這樣做?Roots在這整個過程中能夠提供什麼幫助?

Kyle Yeung: 所以在香港,投資者通常會在他們為他們想要購買的房產支付了首期之後向香港的銀行申請按揭貸款。申請按揭貸款的過程可能需要兩周的時間到兩個月。因此,就像我們一直鼓勵我們的投資者和置業者一樣,我們鼓勵他們在提交按揭貸款申請後立即採取行動並留出足够的時間完成購買。通常買家必須向賣方支付未付金額的日子大概在90天左右。所以通常申請過程需要兩周到兩個月就足够了處理物業購買流程。但在世界上有些地方這個流程很不一樣。他們有一些我們稱之為“Approval in Principle”的東西,這意味著有意置業的人在為支付首期之前,可以先去銀行,並獲得一個確認說明銀行有多少錢願意借給你。而有了這一點,購房者就可以放心地根據預先準予的貸款金額,支付房產的首期。正如我們所看到的分別,香港置業者和投資者面臨的最大風險是,他們必須先存款,然後向銀行査詢看看銀行是否願意為他們提供按揭貸款。我們經常看到置業者因為不瞭解流程的運作原理,而導致首期被沒收。所以我們鼓勵置業者和像我們這樣的按揭顧問談談,因為我們與銀行密切合作,我們對流程非常熟悉,我們可以事先先計算所有數字,以確保買家紀錄符合銀行的準予指南。同時,我們可以提高準予率。所以同時降低風險。

Darren Wong: 我明白了。那麼一般單位或房子的按揭貸款,房主應該期望得到什麼?我指在費率、貸款價值比和付款條件等方面。

Joe Cheng: 所以在香港,現在的置業者可以獲得最高90%的貸款用於私人房產,95%用於補貼公共房屋。為了得到最高90%的按揭貸款,置業者者必須在其名下沒有房產,而且房價必須低於1000萬港元。任何高於1000萬港元的房產,我們的最高貸款上限為物業價格的50%。利率方面,現在這刻,2020年8月,這將是大約2%或2.5%,這取決於HIBOR,我們稱之為香港銀行同業拆息,以及還款期限最長可達30年左右。此外,銀行還向新申請按揭貸款的人提供現金回扣,以吸引按揭貸款申請,一些現金回扣將高達準予貸款金額的1%,但由於市場的不確定性,現金利率正在下降。所以你現在預期準予貸款總額的0.2%至0.5%。

Darren Wong: 我明白了。那麼,貸款人如何評估一個項目,關鍵條款如何變化?

Kyle Yeung: 這是一個很好的問題。所以,銀行通常看兩件事。首先是財產,保證金,還有抵押品,以及客戶個人資料。就物業而言,銀行會根據物業的類型和年齡。銀行通常青睞私人地產,如太古城。這些是私人地產。他們更喜歡這些房子,而不是村屋或我們稱之為“唐樓”的,沒有電梯的公寓。使用銀行偏好的房產作為申請按揭貸款抵押,借款人通常會獲得更優惠的條件,如較長的還款期或更低的利率。另一方面,銀行將評估貸款人的情况,根據他們的收入、年齡、信貸評級,銀行通常傾向於收入穩定的申請人,他們對自雇申請人和年齡較大的申請人的年齡通常會導致較短的還款期。所以同樣,對於任何有興趣購買房產、尋求按揭貸款的人,最好事先向按揭顧問諮詢,確保他們能够獲得他們能提供的最大貸款額。

Darren Wong: 那麼,對於已婚夫婦或有孩子的家庭來說呢,家庭收入水准不同,這對人們的影響如何?

Kyle Yeung: 嗯,通常,如果我告訴你,一對已婚夫婦想一起購買房產,銀行會將兩人放在一起評估。他們將評估他們的個人資料,從他們的收入、年齡和信用評分來看。假設一個申請人比另一個年輕,他們會的通常取較低的年齡,他們會將他們的收入加起來作為家庭總收入,因為有了兩套收入,通常已婚夫婦可以比單身家庭的人購買價值更高的房產。

Darren Wong: 我明白了。那麼,對於第一次置業及申請按揭貸款的人有什麼建議嗎?

Joe Cheng:所以我想對於首次置業者來說有三個要點。第一個明顯是負擔能力。正如Kyle剛才提到的,有所謂家庭收入,因此,任何想要在香港購買房產的人都需要進行所謂的“壓力測試”,這適用於按揭。用最簡單的話來說,每1萬港元的薪水,你就可以得到價值約100萬港元的按揭貸款。所以如果沒有其他未償還貸款,這是計算壓力測試最簡單的方法。第二點是選擇的銀行。香港有很多銀行提供抵押貸款,四大銀行為滙豐銀行(HSBC)、中國銀行(Bank of China)、恒生銀行(Hang Seng Bank)和渣打銀行(Standard Charter),它們都是流程好、審批時間快的銀行。正如我們剛才所說的,為了吸引客戶,大多數中端銀行都會有更好的現金回扣,但他們在物業類型和申請方面更挑剔簡介。第三點是文件。以下這些是每家銀行申請按揭貸款的必須文件,包括的身份證明,通常包括香港身份證、收入證明、稅務收據、最近三個月的銀行帳單以及銷售和購買同意書,這些檔案是開始申請程序所必需的。其他銀行根據情况和申請者。可能需要其他進一步的文件,以促進審批過程。所以我想這是三個要點:負擔能力,哪一間銀行,以及在申請按揭貸款之前,您需要哪些文件?

Darren Wong: 我明白了。很明顯,我看到Roots介紹說你們正在解决一個個申請按揭貸款的所遇到的麻煩。那麼,你能告訴我們更多關於你們如何幫助置業者來確保申請通過批核和按揭成功?

Joe Cheng: 好吧,正如Kyle所說的,過去幾年我們看到了很多放棄首期或申請受到拒絕或的案例。事實上,每年大約有400個案例。所以我們現在正在討論的時候,香港的某處可能有一個案子,因為銀行拒絕按揭貸款而要賠上首期。因此在Roots,我們可以通過扭轉香港現有的程序,來幫助解決這種嚴格死板而且透明度低的按揭申請過程。又如Kyle所說的,在世界其他地方有某種“Approval in Principle”的機制,你可以在支付首期之前知道銀行能夠為你提供多少貸款,但在香港沒有。因此通過我們計算風險的程式,我們可以幫助消除因按揭貸款申請被拒而導致購買失敗的風險,確保您能向你選擇的銀行提交有效的申請來完成您的置業程序。

Darren Wong: 我明白了。所以很明顯,作為一個像我和你們這樣的房地產科技公司的創始人,你們如何設想公司的成長?哪方面更具特色、發展性等等?

Kyle Yeung: 所以我們在香港出發是因為我們在這裏出生和長大,我們去年底訪問了臺灣,並參加了臺北金融科技周,我們意識到臺灣可以成為我們下一個擴展點。臺灣在人口結構上與香港非常相似,有一大部分正在向上流動發展的年輕人口,但由於獲得抵押貸款和房產複雜的過程,他們每天都面臨挑戰。雖然他們的困難可能相似,但並不完全相同,但或許我們已我們的解決方案和我們香港的經驗、對香港銀行體系的瞭解,或許我們可以稍作調整,將我們的解決方案應用到臺灣。但同時我們也希望在今年年底完成研發和改造,很快就要發生了,所以請繼續關注,在香港紮根。所以一旦我們在本地市場建立了堅實的基礎,我想,也許到明年年底,我們已經準備好擴展到其他地方,或者世界上任何其他地方。

Darren Wong: 這真的很酷。而且我認為你們用的是像Expedia的廣告語,Roots,尋找按揭貸款。我覺得你們能做到這些實在太酷了。所以我想我有一些其他的問題要問你們。你有沒有想過,比如說,有些房子可能在申請第二份按揭或三按,你們會考慮這一點嗎?你們會專注在住宅物業上,還是離開針對不同的資產和財產類型發展?

Kyle Yeung: 目前在香港,我們的大部分交易都集中在住宅物業上,如果有客戶要求我們幫助他們尋找抵押貸款,實際上是我們可以做的任何類型的財產。因為我們的流程基本上是一樣的。但話說回來,由於大部分交易都集中在住宅物業上,所以我會說我們現在的焦點仍然是住宅市場。

Darren Wong: 我明白了。我覺得以科技產品來說,我覺得它很有趣,因為它更符合消費者需要,我認為人們的難處是那些沒有機會或時間學習這方面的知識,然後在去瞭解過程的。所以你知道,我相信很多人會從你的產品獲益。那麼你希望觀眾從這集節目中得到什麼樣的收穫呢?

[00:17:16]Joe Cheng: 所以我想,我們想說的是Roots是線上智能諮詢平臺,允許購房者申請和比較按揭貸款,正如您所說,就像在Expedia上預訂行程。第二件事是典型的按揭置業是有風險的,它要求置業者在香港申請抵押貸款之前先支付首期,而這不是理想的方法。但是,這是香港的制度而我們必須遵從。在Roots,我們通過運用預測演算法分析你的個人資料,增加你的按揭貸款批核成功的機率,從而扭轉這個高風險的局面過程。而這正是我們現在所要做的,幫助人們把他們的根帶回香港。

Darren Wong: 我明白了。對於那些想和你進一步談談這個話題、你的服務等等的人,你建議他們從那些管道聯系你們?

Joe Cheng: 如果他們有興趣瞭解更多關於如何置業或如何申請按揭貸款的資訊,您可以通過WhatsApp 97872498 ,或我們的電郵 compare@hkroots.io聯繫我們。所以請隨時通過電郵或WhatsApp聯繫,我 Joe 和 Kyle 可以幫你解决任何問題。

Darren Wong: 我肯定我會把所有的東西都寫在節目記錄裏。顯然,我會給你們一個檔案,讓你們告訴大家有關比如如何在香港或臺灣申請按揭貸款。我想說謝謝你們的到來。實際上我還有很多關於抵押貸款的問題,我想問你更多,但讓我們會把它們留給下次節目機會吧。

Kyle Yeung: 聽起來不錯。感謝你給我這個機會。

Darren Wong: 是的,不用擔心。下次見。非常感謝你。謝謝。

Kyle Yeung: 謝謝。再見。

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Market Updates 未分類

Why “Community” is important to real estate success

Human beings are a social species. We rely on communities to survive and thrive. Communities play an important role in every aspect of our lives. We have communities in our friends, families, workplaces, and so many other places. Being a part of a community can allow us to connect with like-minded people and become more successful. When it comes to real estate investment, a sense of community is more important than ever.

Think about the last time when you searched for a property. Did you ask your friends and colleagues for advice? Did you join relevant Facebook groups and forums to get more information? Have you ever experienced any difficulty in finding reliable information among the tons of threads? Nowadays, we live in a world where we are overloaded with information. Making informed decisions can be a challenge due to the real estate industry’s fragmented and complex nature.

Darren Wong, the co-founder of Denzity, experienced this struggle too. He has seen lots of misleading information and was unsure who to trust during his real estate exploration.

Buying a property is a huge investment. At the worst of all, people may lose their hard-earned savings by trusting ill-intentioned people! Because of this pain, Denzity is born. Darren and other co-founders share the same goal – make real estate participation simpler and more accessible for everyone. The platform sources reliable insights, news, and information directly from real estate experts. To put it in simple words, Denzity is a global community of industry experts.

The importance of community in real estate
Denzity is one of the hottest PropTech ventures in Hong Kong. It makes use of advanced technology to create a vibrant global community of real estate experts. It is a place of opportunity! With a community of experts looking out for your best interests and working together for a common goal, Denzity hopes to alleviate your struggles and drive your confidence to begin your real estate investment journey. Whether that is looking for your first home or starting your investment portfolio, a strong community can give the support you need to succeed. Breaking all the myths and misconceptions, Denzity provides sound insights, open dialogues, and peer-reviewed content from professional real estate agents, developers, world-class investors, advisors and more.

A strong community can also enrich your experience during your real estate exploration. The selling point of Denzity is its strong network. The team recruits a network of global experts to provide you with powerful insights and reliable sources to succeed in the world of real estate. There is no geographical boundary. You can find news and insights on different real estate hotspots such as Vietnam and Malaysia instantly through Denzity. Getting tired of all the serious and data-heavy information about real estate? You can also find interesting, unconventional topics in the field, such as feng shui and sustainability! This is why Denzity is special – people are at the centre of everything.