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Best district to buy a flat right now

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  1. #21

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    Apr 2019
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    Quote Originally Posted by MandM!
    Not so sure about that. Banking system is solid. Unless the protestors got in and did a bunch of bad trades on the exchanges.
    Market will be tanking.
    We can speak back in 10-15 years, if the forum is still up

  2. #22

    Join Date
    Oct 2018
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    107
    Quote Originally Posted by MandM!
    3.5-4% I think can be possible with an old walk-up or commercial (illegal) space. Up to you if you want to venture that way which would require a larger down payment if you plan to take a mortgage.
    Yes, that's also my thought. An old walk-in, in a place experiencing protests. It should be possible to find good opportunities right now.

    If I had to get the 2% yield with a HK property, I would rather get 3 times more with a REIT.
    MandM! and traineeinvestor like this.

  3. #23

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    Oct 2018
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    107
    Quote Originally Posted by derecktan
    Market will be tanking.
    We can speak back in 10-15 years, if the forum is still up
    I also think so, though on a limited number of transactions. If you want to sell now you need to give a 10-15% discount. Few people want to sell (although everybody I talk to is thinking of leaving), but the market price is still taking a hit.
    MandM! likes this.

  4. #24

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    Feb 2011
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    Quote Originally Posted by john_1122
    Yes, that's also my thought. An old walk-in, in a place experiencing protests. It should be possible to find good opportunities right now.

    If I had to get the 2% yield with a HK property, I would rather get 3 times more with a REIT.
    The problem is selling for profit is very difficult. You can put any list price but it doesn't mean you'll get a buyer!!

  5. #25

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    Feb 2011
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    Quote Originally Posted by john_1122
    I also think so, though on a limited number of transactions. If you want to sell now you need to give a 10-15% discount. Few people want to sell (although everybody I talk to is thinking of leaving), but the market price is still taking a hit.
    Yes of course. HK is this addiction. It makes no sense to be in HK but people do it anyway. It's a love hate relationship. And I respect everything about HK. Its flaws and beauty.

    Property in always funny, you rarely know who wants/must sell and buyers are rare and have options. Sellers control most of the market, for now.

  6. #26

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    Mar 2017
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    north point
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    321
    Quote Originally Posted by MandM!
    Yes of course. HK is this addiction. It makes no sense to be in HK but people do it anyway.
    I love my family and respect my job but I wouldn’t call them an addiction.
    MandM! likes this.

  7. #27

    Join Date
    Oct 2018
    Posts
    107
    Quote Originally Posted by MandM!
    Yes of course. HK is this addiction. It makes no sense to be in HK but people do it anyway. It's a love hate relationship. And I respect everything about HK. Its flaws and beauty.

    Property in always funny, you rarely know who wants/must sell and buyers are rare and have options. Sellers control most of the market, for now.
    I think it has more to do with the risk and cost of migration. For most people it's difficult to find a comparable job elsewhere because of lack of language skills, lack of social network, questionable education (no local certificate that may be needed for some jobs, from teacher to electrician), etc. Plus the difficulties and inconvenience in finding a school for the children. Plus the cost...

    Thinking about all this, I almost feel like staying in HK and being miserable for the rest of my life, like most Hongkongers.

  8. #28

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    Feb 2011
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    Quote Originally Posted by john_1122
    I think it has more to do with the risk and cost of migration. For most people it's difficult to find a comparable job elsewhere because of lack of language skills, lack of social network, questionable education (no local certificate that may be needed for some jobs, from teacher to electrician), etc. Plus the difficulties and inconvenience in finding a school for the children. Plus the cost...

    Thinking about all this, I almost feel like staying in HK and being miserable for the rest of my life, like most Hongkongers.
    Making new friends and moving to a new place is scary, and I get that. There are plenty of opportunities to move abroad, countries like Australia and Canada seem to be more open minded to immigrants, and once one gets in, your whole family can go. Schools are not a headache in other countries like it is in HK. It's basically your right to get into a school, well in the US and I assume the other two mentioned follow suit.

    You'll find that your money goes a lot further outside of HK and it makes the idea of immigrating elsewhere attractive. And HK people generally have the work ethic needed to succeed in overseas jobs, just add a bit of decision making and confidence and you'd do very well. There are plenty of cities in the US that are extremely wealthy and practically 100% Asian.

  9. #29

    Join Date
    Aug 2007
    Posts
    758

    Good luck with trying to get a 3.5-4% yield on a walk-up residential property any time soon unless you are convinced there is going to be a substantial downwards price shift in properties in the foreseeable future.

    traineeinvestor and john_1122 like this.

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