When buying property everything will depend on exactly how much space you will require to live in. This has to be kept in mind when browsing for the cheapest Hong Kong apartments to live in. Every family will have different needseven though people want to live cheaply they still require sufficient space in order to adequately accommodate the family. Nevertheless, there are some who can tolerate substantially smaller apartments if they are closer to the centre.
Here are the 5 cheapest areas to buy property in Hong Kong.
Wanchai
This neighborhood can be found on Hong Kong Island which is in the southern regions of Hong KongHong Kong island has a population of 1,290,000. It is a densely populated area with over 16,000 people living in every square kilometer. Many years ago, during the first opium war when Hong Kong was occupied by United Kingdom there was a proximity 3000 inhabitants which were living in a couple of fishing villages. All of this has changed dramaticallythe population has grown tremendously. An apartment in Wanchai can cost US$39,000.
Sai Ying Pun
More than 1 million people live on Hong Kong Islandgenerally accommodation isrelatively affordable as is also the case in the Sai Ying Pun neighborhood which is in the Western District of Hong Kong Island. As far as administration of the island is concerned this area is part of the WesternCentral District. The name Sai Ying Pun is a Cantonese word which actually means Western camp. This mostly refers to a military camp which makes sense because this is the area where the early British military had their headquarters. An apartment in this neighborhood can cost approximately US$38,000.
North Point
Another popularaffordable place to stay can be found in the Eastern District of Hong Kongthis is known as the neighborhood of North point. This neighborhood is located on the northeastern part of Hong Kong Island. The name is derived from a cape which is located between Tsat Tsz MuiCauseway Bay. From there it stretches in the direction of Kowloon Bay. Several parts of North Point have been occupied since the early 19th century even before the British arrived in the area. In fact, the Metropole Hotel was constructed in 1899the Hong Kong Electric company started operations in the region in 1919. An apartment in the area can cost US$37,000.
Causeway Bay
Causeway Bay is where things happen in Hong Kong as far as retail is concerned. This is where you will find department stores, luxury mallsall around the Western end there is boutiques. Likewise, Jardine’s Crescent street market is a very popular place as far as bargain hunters is concerned. As far as the local cuisine is concerned there are numerous options from popular street stalls to upmarket restaurants. Some of the places which is popular when friends want to meet is Victoria ParkHong Kong central library. An apartment can cost approximately US$37,000.
Quarry Bay
You will find this neighborhood more or less directly beneath Mount Parker. It is located on Hong Kong Island in the Eastern District. There was a time when the western portion of this area was known as Lai Chi. For several decades this area has been both residentialindustrial areathis is probably why the number of commercial buildings has increased especially during the last 20 years. Apartments can be purchased for approximately US$35,000.
