Hi I’m Tim Murphy, Managing Director of IP Global, a property investment business. I’ve been an agent for 11 years, predominantly in Hong Kong. Today I’m going to talk to you about my three-piece success factor.
My pick here is whether to rent or buy in the midst of Hong Kong. What kind of research you want to get when you run a business here, the way you should be renting your office space. My first big factor is whether to rent or buy when you get to Hong Kong. Initially when you arrive here, you should definitely rent and get to know the market. Secondly, Hong Kong is a great diverse place. When I first arrived here, I was in the mid level that really built on but now I’ve moved out to the countryside and then they’ll get a property to where I like. Finally, whether you want to rent or buy is very much a financial decision. I have a property of 15 markets around the world. I only just bought my first property in Hong Kong this year because financially, it makes much more sense to do that from here
My second key factor is research. I have people out who’d ask property all out in the region and we really need to our homework, taking on the legal landscape for instance. This region’s very diverse and each market economically is very, very different, so if you kind of run a regional business make sure you’d come here and understand each and every different mark. Finally, Hong Kong is extremely accommodating. So make sure you get over here, you speak to people, you look at the service providers and get some data prominent. People will really help you when you set up your business in Hong Kong is there is no other market of the world.
My third key factor is where is to locate your office in Hong Kong. I recently moved my office one-train stop. I halved the rent, double the space. The infrastructure of Hong Kong is fantastic so you don’t need to be in the most expensive products are. Also, consider where your office is located. Near to public transport because lots of people don’t drive here and of course, restaurants are really important to take you at the local stock, you will need to have good restaurants in your location.
Those are my three keys to success. When you get to Hong Kong, come and look me up on IP Global.
Transcription by:
Scribe4you Transcription Services