The Deed of Mutual Covenant and monthly management fee quietly govern life in every Hong Kong flat. Here is what buyers should understand about shares, fees, reserve funds and building management before they commit.
In Hong Kong, buying a property is not just about securing a home or investment—you are also acquiring a share of the building. As a co-owner, attending Owners’ Corporation meetings (whether AGM or EGM) is both your right and responsibility.
However, many owners find meetings tedious and believe that “my vote won’t matter,” choosing not to attend.
The truth is: the cost of silence can be very expensive.
Many people believe that the hardest part of buying a home in Hong Kong is simply saving up the down payment and passing the bank’s mortgage stress test. Once you successfully get on the property ladder and make your monthly repayments on time, does it mean that once you close your front door, you can do whatever you like inside your property?