Vivien Chan ‘queen’ of service apartments, says timing is key to successful property investing
Property developer Vivien Chan has managed to flourish as an independent in Hong Kong since founding her company in 1994
When it comes to property investing, the most important variable to keep in mind is timing, even as intangibles such as the government’s ability to apply cooling measures have complicated the task, according to Vivien Chan, founder and chairman of V Group.
Chan, who is also the former chairman of Estate Agents Authority, said investors can benefit from sensing when the government will lean against what they perceive as an overheated property market by applying cooling measures such as a special buyer’s tax or tighter restrictions on mortgage lending.
“Anybody can do real estate when they have ample funds. But the secret of success a real estate player must be getting the timing right, You have got to anticipate and pre-empt cooling measures now,” she said.
She added that those pursuing property development after a long period of rising prices in the city were at a disadvantage.
“Irrespective of how good the location of the project is, if your timing is not right, you’ll get it at a price which is too expensive. You will not be competitive enough in setting the terms of the project as a business proposition,” Chan said.
Chan, who is known as “the Queen” of serviced apartments, founded real estate company V Group in 1994 and opened V Serviced Apartments in 2006, which launched five serviced apartments, offering more than 226 rooms or apartments at four locations in the city.