How is the area of real estate in Hong Kong calculated?
When buying a property in Hong Kong, the area calculation method is very different from that in the Mainland. Many buyers misunderstand the local rules because they do not understand them. This article will introduce in detail the calculation method of real estate area in Hong Kong, and combine it with recent hot topics to help readers better understand the Hong Kong real estate market.
1. Common calculation methods for property area in Hong Kong
The area of real estate in Hong Kong is usually measured in "square feet" (1 square foot ≈ 0.0929 square meters), which is mainly divided into the following three calculation methods:
| Calculation method | definition | Scope of application |
|---|---|---|
| Practical area | Only the actual usable area within the residential unit is included, excluding common areas | New projects after 2013 must be marked |
| Building area | Including practical area and shared area (such as corridors, elevators, clubs, etc.) | Common before 2013, now gradually phased out |
| Inner area | Similar to the usable area, but some developers calculate it slightly differently. | Some developers use |
2. Recent hot topics in Hong Kong’s real estate market
In the past 10 days, the main hot spots in Hong Kong’s real estate market include:
| hot topics | Main content | heat index |
|---|---|---|
| The "removal" effect of the property market | Second-hand housing transaction volume surges after stamp duty abolition | ★★★★★ |
| Nano-building controversy | Prices for units below 200 square feet remain high | ★★★★ |
| Waiting time for public housing | Average waiting time hits new high | ★★★ |
| New project pricing strategy | Developers use the “open low, go high” approach to promotions | ★★★ |
3. Comparison of area calculation between Hong Kong and Mainland China
Mainland properties are usually priced in terms of “construction area,” while Hong Kong has mandated pricing in “salable area” since 2013, which is more transparent to buyers:
| Comparative item | Hong Kong | Mainland |
|---|---|---|
| unit of account | square feet | square meters |
| Main calculation methods | Practical area | Building area |
| Sharing ratio | Need to be explained separately | Generally included in the building area |
| Legal requirements | Must be clearly marked | Regulations vary from place to place |
4. Things to note when buying real estate in Hong Kong
1.Double check area data: Ask the developer or intermediary to provide detailed area calculation instructions to confirm whether balconies, terraces and other areas are included.
2.Understand the share ratio: Although the usable area does not include shared areas, management fees are usually calculated based on the building area.
3.Pay attention to recent policy changes: Market activity has increased after the "removal of spicy food", but it is necessary to pay attention to whether bank mortgage policies are relaxed simultaneously.
4.field trip: The actual usable space of Hong Kong real estate is often smaller than the digital display. It is recommended to feel the space layout in person.
5. Expert opinions
Recently, many experts have expressed their opinions on the issue of property area in Hong Kong:
| expert | point of view | Source |
|---|---|---|
| Chen Yongjie (Cental Plains Real Estate) | Calculation of salable area makes Hong Kong’s property market more transparent than Asia | economic daily |
| Wang Dunjing (Xiangyi Real Estate) | Buyers should focus on both utility rates and floor plans | Sing Tao Daily |
| Lam Ho Man (Knight Frank) | Nano-property prices reflect Hong Kong’s fundamental problem of land supply | Ming Pao |
Conclusion
Understanding how property size is calculated in Hong Kong is crucial for buyers, especially in the current buoyant market. It is recommended that home buyers do more comparisons and not only look at the unit price, but also pay attention to the actual available space. With the implementation of the "removal" policy, the Hong Kong property market is ushering in a new cycle of change, and rational analysis and prudent decision-making are particularly important.
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