Londoners Moaning Like Hong Kongers About Property Prices

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  1. #1

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    Londoners Moaning Like Hong Kongers About Property Prices

    The resemblance is uncanny. In London the moaners used to be expelled South of the River, whereas in HK they were shipped out to Kowloon, but prices are rising even on the Dark Sides. So the respective governments have a problem.
    http://www.scmp.com/property/interna...roperty-prices


  2. #2

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    I think you'll find that's central London not the Greater London area, walkup....


  3. #3

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    Quote Originally Posted by Satay Sue:
    I think you'll find that's central London not the Greater London area, walkup....
    Yes, you are right. It is about Inner London rather than the rest of it. Mind you I think Inner Londoners moan more about prices not going up even more rather than not going down.
    Last edited by walkup; 05-02-2013 at 11:13 AM.

  4. #4

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    Since 2008 a Londoner considering the purchase of HK property will have seen the pound decline against the HKD by 20%, prices increase by say 50% and now the added dreaded 15% buyer tax. In 2007 that HKD3 million apartment will have cost 200,000 pounds. Now? The apartment costs say HKD4.5m + 15%. That is greater than 400,000 pounds. That's double in sterling terms. Brits who stayed on the sidelines have more cause to moan about how HK prices have gone for them than prices in Inner London.


  5. #5

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    Quote Originally Posted by walkup:
    Since 2008 a Londoner considering the purchase of HK property will have seen the pound decline against the HKD by 20%, prices increase by say 50% and now the added dreaded 15% buyer tax. In 2007 that HKD3 million apartment will have cost 200,000 pounds. Now? The apartment costs say HKD4.5m + 15%. That is greater than 400,000 pounds. That's double in sterling terms. Brits who stayed on the sidelines have more cause to moan about how HK prices have gone for them than prices in Inner London.
    Well said and you didn't have bring in the rest of the baggage like school system etc etc thank you

  6. #6

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    I would be extremely surprised if the UK government implemented any of the measures newly introduced by the HK government. There is no moaning that there should be anything similar. Although Inner London prices are relatively high, prices can drop quite rapidly in some areas away from the centre.


  7. #7

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    On the flip side some Hong Kongers have translated moaning about the HK market into buying apartments in London. New developments have been the main attraction particularly apartment blocks that have gone up in Docklands and around the Olympic Village. Now new interest in properties on the Crossrail link development. But this is for those with heftier wallets. http://www.ft.com/intl/cms/s/2/222ba...#axzz2Kw0OeWZQ