Like Tree62Likes

HK Riots. Sending money back home?

Reply
Page 5 of 5 FirstFirst ... 2 3 4 5
  1. #41

    Join Date
    Feb 2011
    Location
    Hong Kong
    Posts
    6,331

    How does HK property compare to other tier 1 cities. And I'm talking about places that people actually want to live. HK, New York, etc.


  2. #42

    Join Date
    Dec 2018
    Posts
    713
    Quote Originally Posted by MandM!
    How does HK property compare to other tier 1 cities. And I'm talking about places that people actually want to live. HK, New York, etc.
    It's something of a generalisation but HK property can be characterised as very expense and very small. Mercer ranks HK as the most expensive city in the world for expats living abroad to live in (taking into consideration other living expenses as well as housing): https://www.mercer.com/newsroom/merc...ng-abroad.html

    Most other surveys that I've seen put HK at or near the top. Even though many of the surveys do not take into account offsetting factors like excellent and cheap public transport and low tax rates, those don't change the fact property costs a lot here.

    IMHO, housing affordability is the HKSAR govt's biggest single failure.
    tf19 likes this.

  3. #43

    Join Date
    Feb 2011
    Location
    Hong Kong
    Posts
    6,331

    Looking at housing needs to consider the whole picture. I don't know about Europe but comparing California, New York and Washington DC -- I found HK has easier access to funding which is important to get on the ladder. Working in the US, most of my friends there could not afford to buy a property.

    Also, HK has very low ongoing costs to maintain a property. Practically no annual property taxes, low insurance, etc.

    The US also does not have public housing or healthcare.

    A lot of people compared UK and Germany. Most Germans I met hate it there and want to get out. Plus job prospects are sad. Just had dinner with a friend who said she's looking at UK. 500 sq ft for hk3-4m range. Doesn't sound that cheap...


  4. #44

    Join Date
    Aug 2017
    Posts
    277
    Quote Originally Posted by bdw
    Well if you were bottlenecked by $10k FPS limit then I might understand your shallower comment but $500k doesn't sound like much of a bottleneck to me

    Shit, I just compared transferwise and instarem again now and for amounts below $100k to AUD, transferwise is the better option now. But not a significant amount, only a few AUD. This was not the case before, instarem was definitely better. So either transferwise is better now, or instarem is crappier. For amount above $100k, instarem is still the better option, but again only a few AUD so insignificant. But anyway we both agree these services are better than using the banks!
    What is not a significant amount? For example on 100k exchange to CAD, KRW, or USD (my 3 options) what would I gain over just using the bank? And is it significantly less hasssle to use 3rd party services?

  5. #45

    Join Date
    Jan 2014
    Location
    NT/CUHK
    Posts
    880

    I've always kept what money I could save back in the states, mostly b/c I have people to work with there to help me choose investments, and I don't have that here.

    But yes, given my lack of confidence in the people currently running HK, I am more diligent about sending savings back before it piles up.

    shri likes this.

Reply
Page 5 of 5 FirstFirst ... 2 3 4 5