tag:blogger.com,1999:blog-18183714.post4950277194624376024..comments2024-03-08T20:25:35.963+08:00Comments on Malaysia-Finance Blogspot: HK Property ConfidentialSalvadorDalihttp://www.blogger.com/profile/06868577716920232901noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-18183714.post-59937032169902557202008-11-12T13:48:00.000+08:002008-11-12T13:48:00.000+08:00fairly contradictory information on the state of r...fairly contradictory information on the state of real estate in HK.on one hand it was mentioned that prices has fallen a miniscule 14% from her peak and in the same breath it claimed that prices has plummeted to 1999 levels!!<BR/>which is which? -a lot of confusion and conflicting remarks that reflects the ignorance of the writer<BR/>a yardstick or reference point to gauge HK luxury sector will inevitably refer to apartments(HK does not use the word condominium-all high rise building are referred to as FLATS)situate in the midlevels-presumably from magazine gap road to caine road and possibly encroaching onto bonham road area near the campus of the university of hong kong plus the old peak road,the traditional super rich areas in the peak and southern HK island fronting the beach in repulse bay <BR/><BR/>the midlevel flats are probably going for between 15000-20000 per square feet which cannot be 1999 levels which was then hovering around the benchmark 7000-10000/sq feet <BR/><BR/>in fact property prices and wages in HK over the last 30 years provides valuable teaching materials in economics for malaysia and the rest of asean and by extension the world<BR/><BR/>in 1976 when i was a rookie new graduate working in HK the pay was 2000 ringgit(4500HK)-similar to KL's average salary.fast forward 30years in 2006-the starting pay of a new graduate in HK is around 8000-10000ringgit and the pay remains abysmally 'static' at 2000 ringgit in malaysia<BR/>a 1200 sq feet flat at mid levels in 1976 was about 100k ringgit and double storey house in taman desa -considered a prime area then was 80000 ringgit-small difference of 20k<BR/><BR/>in 2006 the same HK flat will cost you 6 million ringgit-yes 6 million ringgit and the house in taman desa is only a measly 450K in other words if one has invested in HK vis avis Kl the gains were phenomenal<BR/><BR/>where would you put your money in the asia pacific region?lanternhttps://www.blogger.com/profile/13510335813165451188noreply@blogger.comtag:blogger.com,1999:blog-18183714.post-67318352872452709432008-11-11T20:29:00.000+08:002008-11-11T20:29:00.000+08:00Over the longer run, HK properties price will rise...Over the longer run, HK properties price will rise as the land is limited. While now when everyone is panic for recession fear, there are always a good buy.<BR/><BR/>If jobs are secured, then it is worth to invest. I don't favour job cut but the fat pays for financial exec over the years could be overdone. Not becoz everyone chasing a higher incentives, we might not be ended in this hot soup. <BR/><BR/>We must stop to have the recession fears as everyone think. We need to restructure the system and recreate a sustainable biz model for everyone to feel secure. Then, the house mkt will be more robust.solomonhttps://www.blogger.com/profile/15373632232861592746noreply@blogger.com