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  1. #21

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    That's the sort of smart move many folks are making
    Hard to make such smart moves when you have dumb things like kids schools to worry about.

  2. #22

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    Quote Originally Posted by OffThePeak:
    You can be more creative that that!
    There's more than one way to Downsize.
    $6 million might get you a very nice modern flat ... in LOHAS Park.

    That's the sort of smart move many folks are making
    Problem is... I am too smart!

    I bought my property in Ma On Shan, so I live in 1,069 sq. ft. gross, 850 sq. ft net. Can you get more than that for (say) 9 M in Lohas Park? Once you factor in taxes, fees, and commissions the price is about the same.

  3. #23
    Quote Originally Posted by shri:
    Hard to make such smart moves when you have dumb things like kids schools to worry about.
    True.
    There are times in the life cycle when you may feel trapped.
    And it is important to plan around those... if you can.
    Hence, we bought our replacement flat two years ago,
    when we could more easily afford it.

    AND: The two outside-HK flats were priced so cheap, that the Full Cost is like just the Downpayment in HK: HKD $1.3mn, and under HKD $1.0mn

    There are now some interesting opportunities in the USA, where you can
    invest just US$130,000, and earn enough to rent a HKD$4-5mn flat here.

    These moves are not without risk, but they can help you gain flexibility,
    when your life situation offers little
    Last edited by OffThePeak; 04-02-2015 at 06:01 PM.
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  4. #24

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    Quote Originally Posted by OffThePeak:
    It is meaningless, unless you are willing to do something about it.
    What would you consider doing? Would you move? Would you downsize?
    It is not totally meaningless because if he had not bought his rent would have gone up while here is mortgage (if mortgaged) is not.

  5. #25
    Quote Originally Posted by Liked:
    Problem is... I am too smart!

    I bought my property in Ma On Shan, so I live in 1,069 sq. ft. gross, 850 sq. ft net. Can you get more than that for (say) 9 M in Lohas Park? Once you factor in taxes, fees, and commissions the price is about the same.
    Based on recent sales - the average price in LOHAS is $6,350 psf, so:
    $9,000m / $6,350 = 1,417 sf

    Or 1,069 sf x $6,350 = $6.79 million

    I real downsizer might consider a slightly smaller flat, at 980 sf, perhaps - with 3BR, plus a storage room
    Last edited by OffThePeak; 04-02-2015 at 07:47 PM.

  6. #26

    Two years ago, we saw more upside in the market, and so bought first, before selling, and now have gains close to $800k - $1,000m on each flat.
    (But I am LESS sure now about further rises.)

    BTW, I wrote about the Downsizing strategy on "another forum", while we were doing it. But my posts were mostly ignored or rubbished. I cannot recall a single person saying: "Hmm. That might be a smart move." (I am used to thinking independently, so this reaction neither bothers me, nor stops me. I am simply noting it, since I think there's a good chance this still good suggestion will be ignored once again.)

    Do Search on:
    "DOWNSIZERS THREAD - Cash Out & still In the Market"
    Excerpt: (Two Years ago)
    "Cyclically, I think the market could have another 2-3 years, and maybe more. And we haven't yet seen the "crazy blow-up phase" which normally marks a long cycle high. That's why I suggest still owning something."

    Downsizing to a smaller and/or cheaper flat locks in a profit, which also delivering a transaction which may reduce your mortgage, or eliminate it, while also fixing your rent. Best of all, would be leaving HK for a much cheaper cost of living in another country. Even Singapore might be significantly cheaper at current SGD fx rates.

    Last edited by OffThePeak; 04-02-2015 at 08:01 PM.
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  7. #27

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    I take it you don't own the land on which the property is built in the Philippines?


  8. #28

    It is a Condomium flat, which foreign buyers can own in the Philippines.
    Same thing in Thailand.
    I never owned land in HK either


  9. #29

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    You have to be careful in the Philippines as it is a bit 'wild west'. I have two properties, the first has been an excellent investment the second a disaster due to fraud and corruption. The first was carried out privately, the second through a well known property developer.


  10. #30

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    Quote Originally Posted by OffThePeak:
    It is a Condomium flat, which foreign buyers can own in the Philippines.
    Same thing in Thailand.
    I never owned land in HK either
    What kind of visa can you get to live in Thailand or the Philippines?

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