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20-01-2017, 02:07 PM
(This post was last modified: 17-03-2017, 07:57 PM by cyclone.
Edit Reason: Added writer and date
)
Keep Saving, Hong Kongers
By Nisha Gopalan
Jan 19, 2017 3:00 PM EST
It takes around 35 years for a median-income household to buy a 90-square-meter (970 square foot) apartment in Hong Kong. So, by 2052 in other words. That makes the former British colony the world's least affordable city, according to Oxford Economics. Now, with Chinese buyers forking out ever-higher amounts for land sold by the government and outbidding domestic stalwarts, prospective home buyers are going to have to wait a whole lot longer.
Hard Slog
It takes a household with local median income 34.95 years to buy a 90-square-meter apartment in Hong Kong versus 33 years in Beijing and just over 16 in New York.
More details in
https://www.bloomberg.com/gadfly/article...ng-kongers
Specuvestor: Asset - Business - Structure.
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no choice, they are part of china now, so it's like the nice of france.. all the richies flock together!
1) Try NOT to LOSE money!
2) Do NOT SELL in BEAR, BUY-BUY-BUY! invest in managements/companies that does the same!
3) CASH in hand is KING in BEAR!
4) In BULL, SELL-SELL-SELL!
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when they get a property crash of 50% again it will bring the affordability back to New York levels.
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(20-01-2017, 07:17 PM)BlueKelah Wrote: when they get a property crash of 50% again it will bring the affordability back to New York levels.
difficult to clash when all the richies are there and waiting to buy on dips.... they are really rich okay!
many Wee CYs there and more!! :O
1) Try NOT to LOSE money!
2) Do NOT SELL in BEAR, BUY-BUY-BUY! invest in managements/companies that does the same!
3) CASH in hand is KING in BEAR!
4) In BULL, SELL-SELL-SELL!
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24-01-2017, 12:32 PM
(This post was last modified: 24-01-2017, 12:33 PM by soros.)
Not many Hong Kongers have the job income or the 30% deposit to take on a 70 % mortgage for buying a 970 sq ft flat costing at least HKD$10 Million.
Most HKers are buying flats priced within their affordability - sized about 400-500 sq ft.
May be Singaporeans are better off in terms of living accommodation and able to buy 970 sq ft flats from DB . ???
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yes middle income singaporeans can buy a 1000sqft HDB for around SGD 300-500k depending on the location, far more affordable than in hongkong.
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Wow ! - a 4 room flat with 90 sq ft for price under SGD $0.5 Mil is really a gift.
I live near to a large estate in border area of HK ( Tin Shui Wai ) and asking price for 504 sq ft ( internal area ) flat is HKD$ 4.38 Mil ( = SGD $0.8 Mil ).
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24-01-2017, 07:26 PM
(This post was last modified: 24-01-2017, 07:27 PM by CY09.
Edit Reason: edits
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In Singapore a 90 sq ft flat at s$350k is probably the Hougang Estate. From Estate to the CBD area will take approximately 30 minutes of commuting.
One good gauge is to measure how much does a HK flat (with commuting time of 30 mins to HK CBD area (Hong Kong MTR on the new Hong Kong Island)
Fair enough comparison?
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