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2020 - Buying Property in HK

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  1. #11

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    Quote Originally Posted by mrgoodkat
    Well, there is a Gweilo living in it now, does that count?
    Is it J Residence?

  2. #12

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    Quote Originally Posted by bdw
    Honestly for me the best money saving tip from my 12 years in Hong Kong, do not waste your money on renting in the most expensive city in the world, instead you should buy in the most expensive city in the world and experience the biggest profits you could ever dream of that is simply not possible anywhere else in the world! I bought a place for $6m in 2009, now worth $14m. An $8m increase in 10 years. At the same time, I was paying interest rates on mortgage around 1% up to 2.4% during the last 12 years which means I was paying around $5k in monthly interest expense to Standard Chartered, for a 1200sqf 3 bed apartment in Olympic area. Only $5k per month interest vs around $30k to rent the same bloody place. Now I am looking to rent my place out for around $30k now to anyone that doesnt want to follow my advice and prefers to throw money away on rent. I'll take your $30k please PM me
    Its a wonderful success story, one to cherish for lifetime but the only problem with it is 'Past performance is no guarantee of future results' Also at $6M you could probably afford to pay back full mortgage within a decade just in case but at $14M not possible for even 2 decades so downside risk is too high and IMO there is no real benefit buying at this price unless one is expecting much capitol appreciation even from this point.. Yes you can say buy small but its not suitable to everyone especially those who wants some minimum space to live in and buying small for renting-out is again risky bet on capital appreciation with no other real benefits..
    What worked yesterday, may not work tomorrow..

  3. #13

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    To me there are just so many other places in the world to more safely buy real estate (US, for example) with better ROI and not going to be fully integrated with China in 2047...

    Normally I do prefer to buy but probably never will in HK...


  4. #14

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    You had one job guys...one job!

    Andy SNK, chichow, cwd and 1 others like this.

  5. #15
    bdw
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    Quote Originally Posted by nivantj
    Its a wonderful success story, one to cherish for lifetime but the only problem with it is 'Past performance is no guarantee of future results' Also at $6M you could probably afford to pay back full mortgage within a decade just in case but at $14M not possible for even 2 decades so downside risk is too high and IMO there is no real benefit buying at this price unless one is expecting much capitol appreciation even from this point.. Yes you can say buy small but its not suitable to everyone especially those who wants some minimum space to live in and buying small for renting-out is again risky bet on capital appreciation with no other real benefits..
    What worked yesterday, may not work tomorrow..
    Well I am expecting massive capital apprecation in Hong Kong now. In the last 7 months the whole country gone completely up shit creek, people getting teargassed daily, businesses set ablaze etc, and still the property market has proven so strong, only dropped slightly. This only confirms that absolutely NOTHING can stop HK property from dropping and now the unrest is coming to an end, the sentiment will change from negative to positive, property is about to go crazy through the roof in 2020!

    We should be grateful that one small piece of positivity that has come out of the last 7 months of crap is that you can now safely buy property in HK and sleep comfortably knowing that you absolutely will make millions out it completely risk free, and stop paying rent at the same time.

  6. #16

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    you can now safely buy property in HK and sleep comfortably knowing that you absolutely will make millions out it completely risk free, and stop paying rent at the same time.
    You are in a fantastic mood today and always, wish i had your level of optimism..
    bdw likes this.

  7. #17

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    Feb 2008
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    Yet most of the real estate companies and analysts are forecasting 15-25% drops this year, albeit mostly in the > $10M bracket.

    Conversely, 4-6 and 6-10 brackets have been robust.


  8. #18

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    Quote Originally Posted by Hoista
    analysts are forecasting 15-25% drops
    Analysts literally have no clue.

    If they did, they would be investors instead.

  9. #19

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    Feb 2008
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    If experts are a problem where should people go for trustworthy information?


  10. #20
    jgl
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    Quote Originally Posted by Hoista
    If experts are a problem where should people go for trustworthy information?
    Random internet forums.

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