Rent Flat in Cherry Crest HK

How Much is Your Home Really Worth?

Our Professional Guide to show you how to accurately find How Much is Your Home Really Worth?


The Banks do not consider an extensive renovation an increase in the property value and therefore any increment for buying a nicely renovated flat is almost always on top of the BV and at the buyers cost.

One of the common questions we have is “how much is my property worth today after we have invested 1 Million in renovations?”

Unlike many overseas countries, property valuation in Hong Kong is not the value ascertained by a professional surveyor who visits your home and gives a professional evaluation. In the UK for example you can purchase a house and upgrade the interior and exterior and once completed, you can get a professional quote of how much the home is worth after the work is completed.

Most valuations in Hong Kong are done by Banks and this is known as a Bank Valuation or (BV) The banks’ base the value of the recent transaction in the building. For example, if the 5th floor sold at HK$ 10 Million, the banks will value the 6th Floor (same size) at HK$ 10 Million plus a small increase in the higher floor (sometimes around HK$ 50,000 per floor)

The Banks do not consider an extensive renovation an increase in the property value and therefore any increment for buying a nicely renovated flat is almost always on top of the BV and at the buyers cost.

The banks will make small adjustments if the flat has a unique selling feature such as a rooftop or a terrace, but it’s not much as traditional Chinese use this space to hang laundry and therefore renovations to make an amazing outdoor terrace for BBQ’s and Entertaining is not recognized by Banks.

There are several ways to check the value of your home and also get an idea of what price to list it as if you were thinking of selling.  Firstly check to see if the property has an on-line bank valuation.

Qi-Homes provide direct links to Free Bank Valuations via its Home page which include HSBC  HANG SENG and BANK OF CHINA. If your building is not listed in any of these links, your next step will be to call the banks and ask them for a quote. The Banks will ask you for the full address, whether a car park is included and your expected asking price. They will typically SMS you the quote within 24 hours. It’s important to note that Bank Values may vary from Bank to Bank so it’s important to shop around.

Home price is an online portal that also provides Bank Valuations and Applying for Mortgages  in English and Chinese and covers most buildings and areas.

Once you have an idea of what the banks say the property is worth its important to see what price people are actually paying for similar properties in your building. For example the bank valuation may be lower than market price if the building is older or does not have a lift which is the case in older neighborhoods, but people are still willing to pay more for something that has a unique “colonial” feel and more efficient internal space.

There are several large agencies that post recent property transactions on-line, but the largest is Centadata. This portal provides details on transactions including transaction records, recent transactions and 16 year transaction history, which is very useful to review market trends over a long period of time.

Once you have a general idea of what your property is worth, it’s time for you to contact an agent and start marketing. A good property agent will give you honest advice and recommendations for example If you are asking a huge up charge for the terrace can the market climate sustain the asking price or are buyers sentiment more cautious and looking at Bank Value of a Guide Price when entering the market.

Buyers in Hong Kong used to be speculators, they would buy a property with the sole focus of flipping it and making quick money. The Hong Kong Government has introduced to curb measures to counter this behavior by introducing a Special Stamp Duty  whereby anyone who sells their property within 36 months of the acquisition is subject to fees that range from 10-20%. Since then the buyer is more cautious about buying property and are looking at a 3-5 year plan.

For more information about buying and selling property in Hong Kong, please contact Anthony Hindmarsh  at
Anthony Hindmarsh
Anthony has over 13 years experience in the Hong Kong Property Market and specializes in Acquisition for Investment and Property Management. He is director of Qi-Homes a well established property agent specializing in rentals and sale in all areas and budgets on Hong Kong Island. With a database of 5000 clients Qi-Homes prides itself on a loyal base of repeat customers.