Need a bigger apartment?
Why not buy two adjacent
properties and knock them
into one? asks
Crystal Lee
.
When
TWO
become
ONE
H
ere is a dream real estate
investment opportunity
in Hong Kong: Two
adjacent apartments
for sale, each consisting of 800sq ft
and listed for 10 million. Combining
them would produce a beautiful
four-bedroom apartment of 1600sq ft,
perfect for your family of four, your
helper and your belongings. Best of
all, it would maintain a much greater
value than the sum of its parts.
More popular than ever in Hong
Kong, combined units are the most
effective solution to contain our
growing families while tackling
real estate prices which grow even
faster. Obviously, combining two
units can be a big job, but with a bit
of planning, research and a good
contractor on board (and a designer if
possible), it is certainly achievable. So
where should you start?
First things first
First, you need to start the hunt for
your apartments. Ask your trusted
real estate agent to recommend
popular buildings for combined units
in your preferred area. Don’t limit
your viewings to project-friendly
adjacent apartments, but also view
homes that are already combined –
do this to gain inspiration on how to
merge your own properties. Tell the
real estate agent that you are happy to
consider both options so he or she will
be able to show you all the properties
you wish to see.
It may take some time before
you locate two adjacent apartments
that are for sale simultaneously.
During the negotiation stage, ensure
your agent does not disclose to the
vendors that you are also considering
purchasing the property next door,
as you will lose your bargaining
March 2015
53
