Purpose of Purchase: Investment (ex-patriate from Hong Kong)
Property Type: House
- An area that will have a good tenant profile
- Minimal shortfall on cashflow
- Capital Growth
- Close proximity to schools and transport
- Very sought after location within Holland Park West
- Ability to create an ensuite easily from the spare room off bedroom
- Elevated position
- Ability to add value by adding a deck at the rear
- Close proximity to parkland
- Number 88 – very appealing to Chinese investors
A Successful Investment:
The property was purchased for substantially below market value as most people could not see through the tenants possessions and mess in the property. We suggested to the client to do some basic improvements including internal paint, painting of the front deck and install ceiling fans to the bedrooms. PMC also suggested the potential in the future to create a back deck from the kitchen/meals area and also convert the 4th bedroom into a walk-in robe and ensuite. This would significantly improve the market value of the property.
We competed against multiple offers and were able to secure the property. The clients flew from overseas to view the property and are extremely happy with the position and purchase price. With the cash inputted into the property of 20%, the property is neutrally geared for them which is beneficial as they are Ex-pats, meaning they are a non-tax resident living in Hong Kong.