Sassy Mama Hong Kong - Career & Money advice - 1

Can Your 7-Year-Old Teach You To Manage Money? Financial Literacy In Kids Is On The Rise

Anita Balagopalan — Mon, 08 Jul 2024 22:00:12 +0000

Money matters. We all know this and we often wish our kids got a sound financial education early on in life. That’s why Sassy Mama tells you the different options you have in Hong Kong to help improve your child’s financial literacy.

Do you have a Joey from F.R.I.E.N.D.S. moment when people around you start talking about Bitcoin, Tether and Binance? Are you surprised that despite your love for art, you just aren’t able to follow NFT trades? Does talk of blockchain technology unhinge the gears of your brain?

Familiar feeling? We get you, Mama! Most of us really only started getting the hang of saving, budgeting and accounting when we forced to start adulting (read: when we became parents) and suddenly financial literacy these days is about so much more than we are used to! Hoping that your kids can do better? Don’t worry! There are ways to make sure that your kids don’t take as long as we did to get financially literate.

Did you know that financial literacy is such an important topic that money management is now being incorporated into the curriculums of many Hong Kong schools? What’s more, global banks and insurance companies are also getting involved in the financial education of their future clients. If you’re not sure how to give your children an age-appropriate financial education, we’ve compiled the best financial literacy classes, workshops and summer camps in Hong Kong. These courses are sure to bring your little ones up to speed with all things related to money matters (perhaps, they’ll be able to give you a crash course as well!). We’ve also listed activities and practices for your family to follow at home, so you can start enforcing economy at home. Who knows? Once they have learnt the value of money and how to save, earn and invest, perhaps they won’t be dipping into the Bank of Dad or Mum so often!

Financial Literacy Classes In Hong Kong

Genius Finance – Financial literacy classes for kids as young as 7 years old

Always had a notion that financial education starts with adulthood? Not really! At Genius Finance, the financial course content has been developed keeping the latest economic events around the world in mind. So expect your kids to follow cryptocurrency, economic theory and big data.

Genius Finance, various locations across Hong Kong, www.geniusdevelop.com/finance

Kids Biz Academy – Partners of entrepreneurship programme from Silicon Valley

This academy offers project-based learning that gives children the opportunity to learn how to start and operate their own business, make their own movie and also execute their own trades. Working in teams of six, students get a first-hand feel of real-life business scenarios. Financial education programmes start at 8 years old.

Kids Biz Academy, WhatApp: 6996 8915, hwww.kidsbizacademy.com

Financial Education Centre – Financial literacy offered by The Hong Kong Family Welfare Society (HKFWS)

Part of the special services offered by the HKFWS, the Financial Education Centre works to promote financial literacy of children and their parents through money management workshops, student talks, edutainment programmes, consultations and their social media platforms. The Centre also offers Financial Social Work Certification Training to social workers, so that they would have the ability to intervene in finance-related matters, should the need arise (especially in the case of scams and loans).

Financial Education Centre (HKFWS), various locations across Hong Kong, www.hkfws.org.hk

Financial Literacy Camps & Workshops

HSBC Summer Summit –Workshop focusing on financial literacy, etiquette and culture

Though applications for this year’s summer summit in July have closed, keep this in mind for the next few years as your kids get ready to choose their major in college. Check with your Relationship Manager to book your child’s slot as it is only open to direct relatives of HSBC Hong Kong Premier Elite Customers. Meant for kids aged 14 to 19 years, this 3.5-day programme offers a range of financial literacy and upskilling activities that aim to provide a better understanding of the banking industry, boost financial knowledge and broaden a child’s horizons. Other summer workshops include taster programmes for UK universities.

HSBC Summer Summit, www.hsbc.com.hk

FezEd Summer Camps – Teaching kids the basics of entrepreneurship and financial literacy

Want to enrol your kids in a summer camp that could help them for years to come? FezEd is offering 4-day summer camps that will simulate a marketplace to test kids’ business plans as well as an interactive environment to teach children about investing and trading. FezEd is offering these financial literacy summer camps at Hong Kong Academy in July and YMCA Kornhill in August.

FezEd, www.fezedhk.com

Financial Literacy In Schools

Financial education is slowly making its way into Hong Kong school curriculums. The Primary Humanities curriculum framework by the EDB outlines the financial literacy goals and focus of schools – smart money management and understanding of Hong Kong’s economy, amongst others. Secondary schools across Hong Kong were encouraged to participate in the Hong Kong Financial Literacy Championship in April this year.

The Financially Literate Schools Programme, co-organised by the Investor Financial Educational Council (IFEC) and the Centre for University & School Partnership of the Chinese University of Hong Kong (CUHK), aims to foster financial literacy in primary school students. In its sixth year currently, with seven participating schools, the programme aims to impart value-based financial education. Financial education is through subject lessons and non-subject curriculum activities. CUHK provides school-based support to participating schools, collaborates with teachers to develop lesson plans and offers guidance throughout the programme.

FWD Group and JA Asia Pacific have expanded their financial literacy programme to seven markets and over 25,000 schools in Asia. This holistic financial literacy programme covers three aspects – financial awareness, financial capability, and economic and social inclusion. Through fun games and interactive quizzes, both online and in-person, students learn about managing budgets, making sound money choices and serving their communities.

What You Can Do To Teach Financial Literacy At Home

As a certified public accountant and father once told us for a previous article for Sassy Mama, most children are highly receptive to new information. Some studies suggest that children from as young as 3-years-old can grasp basic Maths and financial concepts. What this Sassy Papa did was to give his kids $5 pocket money every week for them to put in a piggy bank. They could then use this to buy the toys they wanted.

Eventually, to explain that money needs to be earned, he moved to a small allowance in return for them completing simple chores at home. He used the app, iAllowance to track the chores his children completed. The app would let him automate their allowance payments once they are done. Taking this further, he then taught kids to budget for things they wanted to buy. Their family used Bankaroo, a virtual bank designed to teach kids about money, budgeting and setting goals.

You can try the same methods at home to teach your kids a very important lesson – the value of an honest dollar. Once your kids are ready, you can also move from virtual bank to real ones. Many banks in Hong Kong are offering kids and teens independent savings accounts and debit cards. When you feel you child has understood the value of money, look at any of these options.

HSBC Children’s Savings Account for Teens, www.hsbc.com.hk

Bank of China i-Free Banking, www.bochk.com

Dah Sing Bank Doraemon Kids Saving Account, www.dahsing.com

Hang Seng Integrated Account, www.hangseng.com

Editor’s Note: Part of this post was originally written by Wilson Ng of Fastlane CPA in March 2020. His views have been incorporated into this updated post published by Anita Balagopalan in July 2024.

The post Can Your 7-Year-Old Teach You To Manage Money? Financial Literacy In Kids Is On The Rise appeared first on Sassy Mama.

Have You Heard Of These Common Scams?

Maloy Luakian — Mon, 20 May 2024 22:00:44 +0000

It’s heartbreaking when you or someone you know falls for a scam. The feelings of betrayal and helplessness can be overwhelming, and often, it’s hard to shake off the experience and loss of trust in others.

Many of us have either encountered (and hopefully avoided!) a scam or know people who have fallen for one; if you haven’t, count yourself lucky for now because scammers seem to be multiplying by the day. In fact, the Hong Kong Police recently released a report saying that there’s been a 42.6% rise in cases of deception, or scams, last year alone. And that number is just for the recorded scams, plenty of victims don’t bother to make a report out of shame or frustration.

To help you stay aware, we’ve compiled some of the most common online scams and ways to identify and deal with them. However, it’s important to remember that new scams are coming out all the time, and while we don’t want you to grow paranoid, you should always take the necessary precautions and listen to your gut.

Phishing Scams

A phishing scam is where scammers trick you into handing over personal information, including passwords or credit card numbers. Phishing scammers often “spoof’ or pretend to be trusted institutions, like banks or government departments in order to fool victims. They might send you an email that looks like it came from a legitimate email address or create a fake website that looks just like your bank’s website, a delivery site or a social media platform in order to fool you into entering your login and password. Phone numbers can be spoofed as well, and some scammers will use numbers that closely resemble official government or hospital numbers.

Buy And Sell Phishing Scams

Phishing scammers like to target sellers on buy and sell sites like Facebook Marketplace. They’ll pretend to be serious buyers and often won’t bother negotiating the price. However, once you confirm the sale, they’ll tell you that they’re not in town or have to take a sudden trip somewhere. Instead of meeting you in person, they’ll ask to pre-pay for delivery, using the services of a trusted courier like DHL or SF Express, and will send you a link with the “pre-paid delivery option”.

The link is a phishing attempt to get you to reveal your personal information or to download malware into your mobile phone or computer.

Financial Scams

These phishing scams usually appear in the form of an official-looking email from your bank or insurance company, or else, you’ll receive a call from someone who says that they work for an institution that you’re a client of. Often, these scammers try to frighten you by saying that they’ve detected an unusual transaction (usually a huge amount) or that you’ve missed an important payment. They’ll then ask you to share your personal details or click on a link.

Online Shopping Scams & Other ‘Fine’ Scams

This particular scam is an elaborate one that confuses victims by preying on their fear and panic. The scammer pretends to be a customer service representative from a shopping platform such as Amazon, telling the victim that their account has been compromised or hacked, and that the hacker has purchased a huge number of expensive items. However, until the hacker is caught, the victim is being accused of money laundering and fraud. You can imagine how frightened someone would feel after learning that they’re on the hook for thousands of dollars of purchases that they didn’t make and, on top of that, they might be facing a long jail term.

The scammer will often know the victim’s name and personal details (usually taken from phishing scams, that’s why it’s so important to keep these a secret!) and use this to further frighten and intimidate the victim. They also pull in fake law enforcement or security to trick the victim into trusting them.

The ultimate goal of this type of scam is to get victims to transfer money over to the scammers in order to avoid money laundering or other criminal charges. It sounds preposterous and unbelievable, but an American financial writer was recently scammed out of US$50,000 through this method.

Though not in the same league, some scam emails state that a person or business is eligible for a fine because of something done unwittingly, but no further action will be taken if the fine is paid on time. These emails are usually very convincing because they are based on the line of work (a copyright infringement fine, for example, for content creators). It can be alarming because no one wants to step on the wrong side of the law.

Air Miles Scams

This is a simple scam that manages to pull in a lot of victims who are looking for a deal. Usually, the scammer puts out a post on social media claiming to have thousands of air miles that they are willing to exchange for a relatively low amount of money because the miles are about to expire.

However, for one reason or another and usually citing security reasons, the scammer will insist on the victim opening a crypto wallet and deposit their payment there. At that point, the scammer will ask the victim to hand over the crypto wallet’s keys (which provide access to the payment), and the victim will lose the ability to get their money back.

Romance Scams

Probably the most notorious scam out there, romance scams have boomed thanks to dating apps, but these don’t just happen online. Hong Kong has its own version of the Tinder Swindler, a man who managed to defraud and steal from a number of people before being caught and deported back to Scotland. There are plenty of tragic stories out there of victims losing their life savings and even going to jail because of romance scammers.

Romance scammers usually begin by pretending to be wealthy men who have jobs that require them to travel frequently, and once they’ve established a rapport with their victims, they’ll begin to slowly siphon them of money and gifts. Romance scams are one of the more despicable types of scams out there because they prey on vulnerable people (often single ladies, widows and helpers) who often give up their hard-earned money out of affection and generosity.

Click Farm Job Scams

If it’s too good to be true, it probably is. Unlike scams that strike fear in a victim or prey on their loneliness, these job scams usually target a victim’s need or desire to earn money. You’ve seen those ads promising lucrative, work-from-home jobs that don’t require any special skills or training; all you have to do is perform easy tasks on an app such as liking social media posts or watching a video.

Each time you complete a task, you’ll be given a commission, which is either put inside a crypto wallet or in a bank account that you and the scammer can both access. The trick here is that after you earn your first commission (usually a relatively low amount but enough to keep you going) and begin to trust the scammers, you’ll be given tasks that require a small deposit before they can be “unlocked”. Only after you complete the task can you unlock your deposit and retrieve your money.

As you continue to unlock tasks and earn more commission, the deposits grow bigger and bigger until you can’t afford to pay them, and you lose access to the money in your crypto wallet or account.

What Can You Do To Avoid Scams?

Most importantly, be vigilant and never share private or personal information with strangers. As a rule of thumb, don’t click on links sent you by anyone who you don’t know personally. Luckily for us in Hong Kong, the Cyber Security and Technology Crime Bureau has launched an app called Scameter+ that identifies scam numbers and websites. All you have to do is enter the suspicious number or website into the app, which will cross-reference it in its scam database and alert you in real time. You can also report numbers and websites in the app, which will then go through a risk assessment procedure to analyse whether or not they’re actually scams.

For more information, you can check out the Scameter+ website, which also has tips for parents and teachers on keeping children safe from online predators.

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Top Co-Working Spaces In Hong Kong: Where To Work Remotely

Sassy Mama — Sun, 26 Nov 2023 22:00:54 +0000

Need a space to get work done? Coworking spaces in Hong Kong offer different packages to suit different needs. Read on for shared office spaces all across Hong Kong (surely, one near your home!).

Working remotely? You’re not the only one! In fact, Sassy Mama works out of a coworking space so we know a thing or two about remote work. Re-entering the workforce as a parent can be tough, and add work from home scenarios into the mix and all sorts of chaos can unfold. Luckily, there is a wealth of co-working spaces for you in Hong Kong. We’ve listed some of the most popular and efficient ones – pick the one that suits you best in terms of location, rates and facilities and get cracking.

the Hive – Popular coworking space in Hong Kong with multiple branches and plenty of community events

We at Sassy Mama love the Hive! Its bright, beautiful spaces have been host to many of our events and are our current workspace! With locations across Hong Kong (and Asia as a whole!), the Hive is home to a creative community with a lively vibe that’s perfect for freelancers, entrepreneurs and young companies. Plus, with its regular community events, you’re bound to meet like-minded individuals.

The Hive, various locations across Hong Kong, www.thehive.com

Ooosh – Coworking space decked with ergonomic chairs, locker access, spacious desks and access to a pantry

If you’re looking to start your own business venture, or you’re a recent entrepreneur looking to give your company more exposure and a boost, Ooosh provides growth-centric collaborative solutions for its members. Be a part of its community of investors, founders, digital marketing experts and mentors, and have a sleek workspace to get things done! It has locations in Quarry Bay, Central and Lai Chi Kok.

Ooosh, various locations in Hong Kong, www.ooo.sh

Desk One – Affordable rates for hot desks, day passes and more

Even with coworking spaces, it can be tough to find a nook that’s quiet. All of Desk One’s coworking spaces come with a quiet room to crack on with work, minus distractions. Plus, the setting is more like a cafe (with good coffee to boot!) so you can expect comfort and cosiness! A day pass costs $138 on weekdays, and depending on how you like it, you can bump up your pass for the monthly pass with access to all of Desk One’s locations.

Desk One, various locations across Hong Kong, Whatsapp: 2185 6660, www.desk-one.hk

Spaces – Professional workspace with spacious meeting rooms, work desks, barista coffee and more

A well-established coworking space spanning Europe, Asia and the Americas, Spaces has seven locations in Hong Kong, each one offering hot desks, dedicated desks and more. If you ask us, our favourite location is the one at Sun House as it’s more spacious and quiet. Six of its locations are on Hong Kong Island, with one in Kwun Tong.

Spaces, various locations across Hong Kong, www.spacesworks.com

theDesk – An extensive list of coworking spaces in Kowloon, Hong Kong Island & Sha Tin

With a minimalist design, its emphasis is on a tranquil and uncluttered workspace, allowing you to produce your best and most creative work. With hot desk options starting at $2,550 per person per month, it also offers dedicated desks, private offices, meeting rooms, event rentals and ideation spaces.

theDesk, various locations across Hong Kong, 3703 3360, www.thedesk.com

Garage Society – Cosy coworking space with a strong community

With locations in Sai Ying Pun, Sheung Wan, Wan Chai and Central, Garage Society Hong Kong gives its members the opportunity to socialise, network and collaborate with other companies and brands – all in a beautifully decorated and fully serviced space. We find it to be the perfect creative space and working environment (the Asahi tap and gorgeous terrace helps as well!).

Garage Society, various locations across Hong Kong, www.thegaragesociety.com

Compass Offices – Flexible shared office space with locations across the globe

This one is perfect for all jet-setting parents! Besides having plenty of office space across the region, Compass also has 20 locations throughout Hong Kong. A very reasonable option instead of lounging at a coffee shop would be to take a U-Desk from Compass for as little as $100 a day (free tea, coffee and wifi included!).

Compass Offices, various locations across Hong Kong, 3796 7188, www.compassoffices.com

Banyan Workspace – Upscale coworking space with flexible membership

Well-designed, warm, comfortable and overall just the right setting to keep your motivation going. Aside from its hot desk ($3,288 per month) and dedicated desk ($4,000 per month) packages, you can also book its corporate event spaces by the hour.

Banyan Workspace, Suite 1204, Eastern Harbour Centre, Quarry Bay, Hong Kong, 6923 8818, www.banyanworkspace.com

Metropolitan Workshop – Coworking space with offices in Yuen Long, Central, Kwai Chung and more

Polished with a meeting room, event spaces and even a private kitchen, Metropolitan Workshop has seven locations in Hong Kong (two in Central). A hot desk will cost you $2,000 per month and a dedicated desk costs $2,500. There’s 24-hour access with your key card and free-flow coffee, tea and water, us a number of exclusive perks for members.

Metropolitan Workshop, various locations across Hong Kong, 3955 8550, www.metroworkshop.com.hk

Editor’s note: “Top Co-Working Spaces In Hong Kong: Where To Work Remotely” was most recently updated in November 2023 by Fashila Kanakka. With thanks to Anita Balagopalan for her contribution.

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Going Back To Work After Having A Baby: 6 Tips From A Hong Kong Mum

Vicki Chuard — Sat, 01 Jul 2023 22:00:35 +0000

Returning to work after maternity leave comes around way too fast, what is with that?! The range of emotions that come with going back to work after having a baby are very real and raw. “What if I hate it (or love it too much!)? What If my baby misses me? Or worse, what if they don’t?” Navigating going back to work after having a baby can be tough. We ask a Hong Kong mama for her top tips to make the transition slightly easier. Working Mamas, you’ve got this.

Having a baby is one of the biggest things you’ll do in your life, if not the biggest. While it’s a joyous time, it can also bring about a whole world of emotions and thoughts that you may have never experienced before – and that’s all before you even think about going back to work! Just as you start to feel like you’ve got the hang of things at home with your precious little one, suddenly your maternity leave is up and it’s time to head back to a new kind of normal. With mum guilt, anxious thoughts and getting your head around the logistics of it all, read on to understand that you’re not alone in this when it comes to saying: “Mummy loves you, I’ll see you later!”.

It’s Normal To Feel Nervous Going Back To Work After Having A Baby

There’s no sugar coating it, maternity leave always feels too short, but in Hong Kong, that’s often because it is too short. It’s normal to have the overwhelming feeling of being not quite mentally ready or prepared to go back to work. The questions are probably whirling through your head:

Will my baby bond with another caregiver?
How do I know if my career is looking after my baby well?
Is there enough breastmilk in the freezer, mental stimulation for my baby, or social time?
Is work going to be the same or have my co-workers moved on?
Will I have somewhere to pump?
Can I still travel for work or work the hours that I used to?
I haven’t slept several nights in a row, how can I be functional at work?

It’s no secret that women are pretty hard on themselves, and separation anxiety from a little human being that you’ve carried for nine months and then spent days and nights looking after is only normal. Just try to remember that everything is a phase, including this one, and while it is emotionally and sometimes even physically challenging, you will get through it and everything will be ok.

Back To Work After Baby: You Might Surprise Yourself

I was surprised to get back to my job and feel a wave of relief at having a routine, a sense of control over the outcome of what I was doing and being an expert at my job – and I definitely had to talk myself out of feeling guilty for feeling that way.

Us mamas tend to counteract that by taking ourselves on a guilt trip, but the reality is, the transition is probably harder on you than it is on them and you’ve likely done an amazing job equipping your little ones with everything they need to survive the day without you. Babies are very clever and will adapt to the new routine. You’ll be surprised at how quickly both of you will adjust and thrive in the new situation.

You’ll Appreciate Your Time Together Even More

There’s no feeling quite like coming home from work and your baby’s eyes light up when you enter the room. That soon turns into a big smile and squealing giggle, and then a screaming “Mummy!” as they run into your arms (don’t worry if your little baby doesn’t do this yet, they’ll get to this stage eventually!). You learn to carve out dedicated time for work and family and enjoy each part to the fullest. I definitely found myself not minding as much waking up at 5am to feed and spend some time snuggling before the pre-work pump session.

End Of Maternity Leave: Let’s Talk About Breast Pumping

This is not an easy one in Hong Kong. Many offices still aren’t well equipped to provide the space or facilities to pump breast milk in a comfortable and hygienic way. There are things you can do to help improve your situation though.

Tips For Pumping At Work

Set the expectation early on with your manager or HR department that you’ll need time and space to pump so that they can do their best to prepare for it. It is your right to take time to pump and have a hygienic place to do it. I made sure I got a portable breast pump that is battery operated, so I wasn’t constrained to being near a wall socket. My Youha The One breast pump was small enough to carry in my purse to and from work every day. I also packed four milk collection bottles, one set of pumping parts and tubing, a cooler bag for transport and a hands-free pumping bra.
Find a dedicated pumping room or room that locks, isn’t a glass office and, if it has windows, bring something to cover it up.
After pumping you’ll need a refrigerator and a sink. Breastmilk is naturally bacteria-fighting, so I washed with hot water and didn’t sterilise the pump parts between pumps. I stored them in the fridge (and then sterilised them once I got home), but if you prefer to, you can bring microwaveable steam sterilising bags, or a spare set of extra clean pump parts.
Don’t forget to block your calendar for the times you plan to pump. Also book the pumping room if the option is there so that you can be sure to pump at regular times to avoid clogged ducts or a rapidly dropping milk supply.
Stay hydrated and wear breastfeeding-friendly clothing if the pumping room doesn’t lock. Try to spend this time catching up on photos and videos of your little one whilst not stressing about how much you’re pumping.

In the early days back at the office, you may want to bring some breast pads while you’re adjusting, just in case you don’t get to pump when you were intending to! A pair of Silverettes will also help if you’re suffering with cracked nipples. It doesn’t hurt to have some snacks in your pump bag as well…

Get Into A “New Normal” Routine When Returning To Work After Maternity Leave

Setting up a good routine for your little one and you will take away a lot of stress. Your little one will adjust more easily to their new caregivers and will be less likely to be upset about your absence. It’ll become easier if they’re refusing to take a bottle or nap while you’re away as well. If the main caregiver (while you’re at work) is their Aunty or Helper, make sure they have a small network of friends and babies of similar age to set up regular playdates with. If your baby is older, consider getting them into a playgroup. You’ll get to kill a few birds with one stone in providing your baby with the stimulation, social interaction and stable routine all in one.

You’re Still Their Mama

This is probably the hardest part. When your little one develops an attachment to someone else and it feels like you’ve been replaced.

“Yes, they may become accustomed to being comforted by someone else when they’re upset, but there is no one like their mama or papa. As they grow older and can express themselves better, you will see that too.”

Take comfort in whoever is looking after them when you’re back at work is doing a good job and can comfort them. With smart phones, we’ve come further than ever in being able to share moments as they grow. I watched my son’s first steps on video and watched him do it again when I got home that day. Why not ask your caregiver not to tell you so that you can experience it for the first time in person. No one will know the difference!

Ultimately, there’ll be days when you’re winning and others where you feel like you’re not so much. Both at being a professional as well as being a mother. However, the truth is, you’re taking on a huge role managing both while being a great role model as well. Finally, just try to remember one thing: you are Wonderwoman and you’ve got this!

Editor’s Note: “Going Back To Work After Having A Baby: Advice From A Hong Kong Mama” was first published in June 2020 by Vicki Chuard and updated in July 2022 by Alex Purcell Garcia.

This is part of a special series, “All About Breastfeeding In Hong Kong“. For more posts on breastfeeding in Hong Kong, click here.

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Top Hong Kong Property Agents: Things To Know Before Buying A House

Sassy Mama — Mon, 15 May 2023 22:00:06 +0000

Finding the right Hong Kong property agent is the first step to buying your dream home. From 28hse and Centaline to Midland Property and Habitat, here are Hong Kong property agents that you can trust.

Buying (or renting) a property in Hong Kong is no easy feat. The endless paperwork for tiny homes that cost an arm and a leg, plus the added stress of raising a family can take a toll on anyone. This is where having a good Hong Kong property agent can make a huge difference. We’ve done the legwork and found some of the best property agents in Hong Kong. Plus, we’ve put together tips on what you need to consider and the costs involved in buying a house in Hong Kong.

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Best Property Agents In Hong Kong
What To Consider When Buying Property In Hong Kong

Best Property Agents In Hong Kong

Engel & Völkers Hong Kong – Hong Kong property agents with 900 locations worldwide

One of the leading real estate companies with over 900 locations around the world, you can be assured that Engel & Völkers will take care of your housing requirements with utmost professionalism. It has loads of luxury apartments, penthouses, duplexes and more to suit your needs.

Engel & Völkers Hong Kong, Shop A, Ground Floor, 95 Caine Road, Mid Levels, Hong Kong, www.hongkongev.com

Midland Realty – Hong Kong property agent providing multilingual services

Rooted in Hong Kong for nearly half a century, Midland Realty has properties all over the city. Its agents are equipped with comprehensive knowledge of property valuation, mortgage, compliance regulations and more, plus it provides customer services in English, Cantonese and Mandarin.

Midland Realty, Room 2505-8, 25/F, World Wide House, 19 Des Voeux Road Central, Central, Hong Kong, 2311 1200, www.midland.com.hk

Habitat Property – Luxury property agent in Hong Kong

Looking for your dream luxury home in Hong Kong? Habitat Property is renowned for offering exceptional service to its clients – 70% of its clients are referrals! It has an extensive portfolio of top-quality properties on Hong Kong Island (Southside, Repulse Bay, Stanley, Mid-Levels and The Peak).

Habitat Property (Central Office), 1201-05, 12/F, Yu Yuet Lai Building, 43-55 Wyndham Street, Central, Hong Kong, 2869 9069

Habitat Property (Stanley Office), LG/F, 80 Stanley Village Road, Stanley, Hong Kong, 2880 9069, www.habitat-property.com

NEST Property – Property agents with a wealth of experience

Popular with expats, NEST Property offers gorgeous properties whether you’re looking for a rooftop, garden, pool, children’s playground and more. Each of its consultants has tertiary education from prestigious universities around the world and a wealth of experience that will help you find your home.

NEST Property, Suite 1301, 13/F, Hollywood Centre, 233 Hollywood Road, Sheung Wan, Hong Kong, 3689 7523, www.nest-property.com

HomeWise Realty – Hong Kong property agents perfect for families wanting to move to Hong Kong

Looking to move to Hong Kong? HomeWise Realty might be the perfect fit for you. It has a team of experts dedicated to finding the perfect property for your family where you can truly build a life. Its services include everything from an initial assessment of your preferred property type right through to full relocation assistance.

HomeWise Realty, Room 9B, Teda Building, 87 Wing Lok Street, Sheung Wan, WhatsApp: 2811 2893, www.homewise.hk

Centaline Property – One of the largest property agencies in Hong Kong

If you’ve walked around the streets of Hong Kong, you’ve likely walked by a Centaline Property office. It is one of the largest property agencies in Hong Kong that provides one-stop agency services including residential property services, mortgage broking, immigration/emigration consultancy and more.

Centaline Property, various locations across Hong Kong, www.hk.centanet.com

Knight Frank – World’s leading property agent with offices across Greater China

Knight Frank is the world’s leading independent property advisor with offices all across Greater China. With several accolades under its belt, it promises to go the extra mile to exceed its client’s expectations. You’ll find everything from apartments to penthouses and villas here.

Knight Frank (Hong Kong Island), 4/F, Shui On Centre, 6-8 Harbour Road, Wan Chai, Hong Kong, 2840 1177

Knight Frank (Kowloon), Unit 1610 – 1611A, BEA Tower, Millennium City 5, 418 Kwun Tong Road, Kwun Tong, Kowloon, 2846 0600, www.knightfrank.com.hk

28Hse.com – Online platform for finding your dream home

Established in 2005, 28Hse.com is an easy-to-use online platform and app that wants to increase transparency in the real estate industry. You can select your preferred neighbourhood, property type, price range and size and get in touch with the agent or owner. A lot of the other property agents in Hong Kong usually also list their properties on this website.

28Hse.com, www.28hse.com

More Property Agents In Hong Kong

Century 21 – Professional real-estate consulting services with over 110 branches across Hong Kong. www.c21.hk
Eastmount Property Agency Limited – Property agent in Sai Kung specialising in village houses, waterfront houses and luxury and unique homes. www.eastmount.com.hk
Hong Kong Homes – Leaders in prime residential sales and leasing with a multinational team of professionals, it also offers relocation services for expats. www.hongkonghomes.com
OKAY – Award-winning real estate agency where property agents are dedicated to helping, not hard-selling. www.okay.com
Oasis Property – Specialises in the luxury residential real estate market in Hong Kong. www.oasisproperty.com.hk
Richland Property – Superior quality real-estate agency services for Tai Po residents. www.rl.com.hk

Things To Consider When Buying Property In Hong Kong

Narrow Down On Your Preferred Location

The old adage when buying a property is “Location, location location”. So how do we apply that here? You’ll have to consider which area realistically works for your lifestyle, where you are happy to commute from and where you are in your life. A single person out five nights a week in SoHo and K-town has a very different approach to someone with a baby and different again to someone with a family with older kids. Schools, environment, space, facilities and family location are all important factors.

How Much Can You Borrow?

If you are a Permanent Resident buying your first and only Hong Kong property, you are potentially able to borrow up to 90% of the purchase price. This is made up of 60% guaranteed by the bank and 30% backed up by insurance from the Hong Kong Mortgage Corporation (HKMC). The HKMC will charge you for this additional security. Both the bank and the HKMC will look at your earnings, net worth and expenses and have transparent but strict eligibility criteria.

Most banks have a mortgage calculator and property valuation tool and it is worth checking with a couple of banks to see what they think the apartment is worth as it does vary. Please note that banks will lend based on their own valuation and not the final price. So you may be willing to buy a property for 10m because it has been beautifully renovated. However, if the bank has valued it at 5m, you will be able to borrow 90% of 5m and not 90% of what you have paid. Eventually, though, this should level out because you probably will not have to spend on interior work and renovations.

When Do You Have To Pay?

When your offer is accepted and you sign the sale and purchase agreement, you will pay 5% of the purchase price. Another 5% will be due when you sign the full sales contract (usually around a week later) which is also when you will pay the stamp duty. If you are a Permanent Resident, you will pay 3.75% of the total price as Stamp Duty; if you are not, you will pay an astonishing 30%. The deposits and stamp duty are paid to your solicitor. These don’t go to the current owner until the property sale is fully completed and the keys are in your hand (which usually takes around two months).

How Do You Get A Mortgage?

Most banks offer mortgages and the rates are fairly similar. You can compare the different offers available on websites like MoneySmart. Banks will usually offer incentives to entice you, these can include “Cashback” where you get a cash payment on completion, free home insurance and supermarket vouchers.

The important comparison is the interest rate you pay on the loan and how that can vary. Hong Kong banks generally offer variable mortgages with a capped rate. When budgeting for your monthly payment, always assume you will need to pay the maximum capped rate. You will be delighted if the mortgage payment is less!

The bank will need various documents including at least three months of payslips and bank statements. They usually want to look at your previous tax statement as well to confirm how much you earn, the includes both your regular salary and your bonuses.

What Is Mortgage Insurance?

Banks lend up to 60% themselves. The Hong Kong Mortgage Corporation determines if an additional 30% is possible and you will pay insurance on this. The HKMC website is very user-friendly and will help you to understand the whole process of getting a mortgage and also how much it will be possible for you to borrow. There is also an obligation to live in the apartment if you have used the HKMC to get a higher mortgage amount.

Check your eligibility for this Mortage Insurance Programme (MIP) and what you need to commit to carefully. This extra insurance fee can be added to the mortgage by the bank so there are no upfront costs involved but you will be paying interest on that extra amount.

What Other Fees Are Involved?

You will need a solicitor to represent you. Usually, the agent knows a good one but it’s a good idea to shop around. The agent will generally take 1% from you and 1% from the seller which is due on completion.

If you are used to renting in Hong Kong, you could be in for a surprise when you get the first bill for the Government rates and the building maintenance. Make sure you add these in when you are calculating how much you will be paying for the property per month. Be careful when buying older buildings, as you might not be allowed a longer-term mortgage. Also, if there are renovations planned by the building owners committee you might be on the hook for your share. Your agent should be able to help you navigate all of this; they are getting a commission, so make them earn it!

Editor’s Note: “Top Hong Kong Property Agents: Things To Know Before Buying A House” was most recently updated in May 2023 by Najuka Redkar. Special thanks to Eleanor Coleman for her contribution.

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Embracing Equity In The Hong Kong Workplace — Is Your Office Up To Scratch?

Nerice Gietel — Thu, 02 Mar 2023 22:00:01 +0000

Equity is about recognising that there are imbalances in our society. Nowhere is this more evident than in the workplace. This International Women’s Day, we take a closer look at what equitably practices need to happen, so that we can ALL enjoy equality at work.

It’s pretty easy to agree, International Women’s Day is wonderful for bringing issues of gender disparity front of mind. This year we’re exploring the term “equity”. It’s one thing for women to be considered “equal” in the workplace, but another entirely to have equity, as we’re sure you’ve come to learn as you’ve made the transition to motherhood.

When it comes to women returning to work, whether that’s from maternity leave or an extended career break as the primary caregiver, one thing is clear: success requires equity — at home, in the workplace and in policy.

#EmbraceEquity At Home

How many of us assign exactly equal roles to the men and women at home? More often than not, the mental load of managing a household falls to the woman, even if she is juggling a successful career. Part of the reason is that we believe the narrative we have been fed – women are better caregivers and they are more suited to juggling responsibilities. Biology dictates that mothers have to bear children, therefore, they naturally must be more family and home oriented, while men are more suited for work.

These outdated thoughts are changing, but not rapidly! It’s only when this mindset changes on a societal level that you will see an equitable distribution of work at home.

#EmbraceEquitable Policies

While women all over the city are grateful that maternity leave in Hong Kong was increased to 14 weeks, it’s fair to say that it’s a far cry from ideal. Not to mention the pitiful five-day paternity leave!

The minute a birth partner or co-parent can take as much leave as the mother following the birth of a child, it frees up the woman to return to work. It also sets the tone and rules for a more equitable distribution of work at home right from the get-go.

After all, if your partner has spent six months being the primary caregiver for your baby, you know that they are capable of doing it on a regular basis, freeing you up for work, relaxation, me-time and so much more.

Read More: Spotlight On Women In Business

#EmbraceEquity in the workplace

So what can organisations do to promote equity in the workplace?

Supporting both parents to have equal access to maternity/ paternity leave would be a start, but there are still more hurdles ahead. Companies could commit to investing in training, mentorship and coaching for anyone returning from a break, regardless of gender. This makes it a more level playing field.

Likewise, there needs to be some flexibility in the workplace. After years of offices being forced to move online, a hybrid office setup has proved to be possible. Simply having both parents at home more often, means that both are more involved in the day-to-day childrearing routines. At a minimum, this creates increased understanding and empathy of the mental load and at best, helps the division of that load be shared more equally.

What’s more, once there is fair and equitable distribution of work at home, it will not be solely the woman’s lot to pass up growth opportunities at work in favour of the family. Does that mean that we will now have both partners feeling torn, guilty and dissatisfied? Of course not! When there are enough families that practise equity at home, they will have better work-life balance and you may just find that it’s not only women, it’s their partners too, who can really have it all!

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