RESIDENTIAL PROPERTY | Staff Reporter, Singapore

Home buyers face skyrocketing management fees

Labour costs account up to 40% of these fees.

South China Morning Post reported that Hong Kong home buyers do not only face spiralling property prices, but also soaring management fees.

It noted that one developer plans to charge buyers of a so-called “nano flat” in Kwai Chung a monthly HK$4.8 per square foot – one of the highest levels in the New Territories.

That fee was revealed by Ronald Chow, operations director at Vervain Resources, as the upcoming residential development named “Edition 178”, near the new MTR’s Kwai Fong station, is set to hit the market.

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