Like Tree53Likes

2020 - Buying Property in HK

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

    Join Date
    May 2006
    Posts
    5,695
    Quote Originally Posted by traineeinvestor
    That and/or just being willing to pay a steep price to get some money outside of the mainland. While the early movers were, as you say, justified by what the market's done over the last several years, I still think it was bad investment decision making.
    People just buy stuff for the sake of buying stuff. It doesn't have to be an investment. Could be for statuses sake or just own an apartment in a city they visit frequently. The 30% is irrelevant in those cases.

  2. #42

    Join Date
    Sep 2019
    Posts
    1,751
    Quote Originally Posted by civil_servant
    People just buy stuff for the sake of buying stuff. It doesn't have to be an investment. Could be for statuses sake or just own an apartment in a city they visit frequently. The 30% is irrelevant in those cases.
    I consider myself centre-right, in that by default I think the market should be left to its own devices. Do you not think there’s a problem though, if people actually based and living in the city are relegated out of housing by visitors whether frequent or occasional? Doesn’t seem like the most efficient use of resources to me.

  3. #43

    Join Date
    Aug 2007
    Posts
    778
    Quote Originally Posted by civil_servant
    People just buy stuff for the sake of buying stuff. It doesn't have to be an investment. Could be for statuses sake or just own an apartment in a city they visit frequently. The 30% is irrelevant in those cases.
    Well there are people who do things for all sorts of reasons, but whether the numbers move the market is another question. As far as I am aware it was predominantly the Mainland Chinese who initially moved the the new build market which then dragged everything else up in sympathy and the market got hot again but primarily from locals buying in without the 30% supplement. Now there can be discussion as to whether the above is the only interpretation but the bottom line is that Western expats continued and continue to predominantly consider themselves locked out of this market with the 30% top up. This market being residential property.

  4. #44

    Join Date
    May 2015
    Posts
    53

    In terms of places where I'm eligible to buy I have a choice of the UK with Brexit and HK without the 30% tax because I'm married to a local. Not a great choice!


  5. #45

    Join Date
    Aug 2007
    Posts
    778
    Quote Originally Posted by jago25_98
    In terms of places where I'm eligible to buy I have a choice of the UK with Brexit and HK without the 30% tax because I'm married to a local. Not a great choice!
    If you are buying for investment purposes, then I would be inclined to buy within easy travelling distance of where you currently live and plan to remain for the next 5 years or so. That way you are less dependent on an agent. So I guess for you that means Hong Kong.
    jago25_98 likes this.

  6. #46

    Join Date
    May 2015
    Posts
    53

    Plan to remain... that's the problem. I find it hard to plan with current events. I guess the only thing to do is not try to forecast the future and look at how things are now. But even that's not easy because while HK is massively better for work... we need to establish my wife's option to live in the UK. At the moment we could be married for 50 years and she'd still not be allowed into the UK when I die.
    So do we make hay here while the sun shines in terms of work... or drop it all and start afresh in the UK just to be get the same residency status as we have in HK. It's a terrible dilemma.

    Quote Originally Posted by walkup
    If you are buying for investment purposes, then I would be inclined to buy within easy travelling distance of where you currently live and plan to remain for the next 5 years or so. That way you are less dependent on an agent. So I guess for you that means Hong Kong.

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