Fine & Country signs its first licensee in Asia19th November 2020
Premium estate agency, Fine & Country continues to expand its reach with the latest signing of its newest licensee in Hong Kong. Breaking into a new market for the brand, Fine & Country Hong Kong is the first office in the network on the Asian continent.
The office which is due to open later this year will be operated by ChingyeeYau, Managing Director of Eden International Property Services, and will be managed by Taye Kavanagh, Managing Director of Complete RPI Asia. The office will focus specifically on Hong Kong’s prestige property market and will be supported by a team of over 20 sales and admin staff speaking four different languages to cater to the 7.5 million people living on the territory.
Jon Cooke, Global CEO of Fine & Country, says that the signing of the Hong Kong license is the first step in the brand’s expansion into the Asian continent, with further growth planned in the near future. He adds that with the announcement earlier in the year that a UK visa offer has been extended to nearly three million Hong Kong nationals with British National Overseas (BNO) status to settle in Britain, there is likely to be an influx of buyers from Hong Kong into the UK market from the beginning of next year. “Having a strategic partnership with a licensee in Hong Kong will better position the brand to assist high-net-individuals looking to purchase property in the UK, as well as other parts of the world,” says Cooke.
International and London Head of Growth for the brand, Daniel Harrington, says: “We are so pleased to be announcing the signing of Fine & Country Hong Kong and the brand’s journey into a new territory. This is exciting news,not only for our existing and future international clients who are selling and buying around the world but also our global network of offices who will be able to refer clients to each other. The connection with Hong Kong is not only relevant to our established and recently joined offices in Central London in areas such as Chelsea, Belgravia, St Johns Wood, Islington, Holland Park, West London and East London, but it also provides referral opportunities for our Southern Hemisphere regions such as Australia.”
Kavanagh says that the Hong Kong license provides the Fine & Country network with exposure to the Hong Kong market as well as the service offering to Hong Kong clients looking to acquire or sell in the UK and then potentially sell in Hong Kong.
“Servicing the upper quartile of Hong Kong property investors is built around networking and special and bespoke services. Often there are times both the buyer and seller wish to be highly discreet, therefore having exclusive trusted agents handling listing and negotiation is preferred. We can surely leverage upon Fine &Country tool sets and platform to enhance the marketing process,” says Kavanagh. “Clients who wish to buy properties in the UK who are now being serviced by many UK developers, distributors and agents located in Hong Kong. Preferred service notch would be better understanding of the clients and helping to better match their ask. Education on UK market and property investment analysis to differentiate ourselves are essential. The closure time may be longer, but we can gain the trust and hopefully loyalty from client in terms of referrals and further business. Serving the higher income investor is a niche skill and certainly there is a space to develop a reputation to take care of the high net worth individuals and families,” she concludes.
Fine & Country specialises in the sale and rental of prime residential properties. The company has offices in 300 locations around the world including in the UK, Cyprus, Ireland, Germany, Mauritius, The Channel Islands, France, Namibia, Portugal, Spain, South Africa, West Africa, Russia, Australia and Hungary. Fine & Country has won Best Estate Agency Marketing and Best International Estate Agency Marketing seven times in the past 10 years at the International Property Awards.