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Public housing for rent

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  1. #11

    I also seen that public house flat given to PR person (non-local) and person already left HK and not living in flat and their kids are using it now.

    Is it legal ?


  2. #12

    Join Date
    May 2021
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    641
    Quote Originally Posted by LetsDiscuss:
    Agree, most of them earning more than me is another aspect. lol.
    Same goes for locals with Ferrari/Merc parked in public housing car park, its a big can of worms HA/HD doesnt want to touch with a barge pole, Keep making noise every now and then but no real reforms..
    chuckster007 likes this.

  3. #13

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    Quote Originally Posted by RobRoy:
    Really, refugees then from the famous Vietnam period or how did that come about?
    Were there many south Asians in Vietnam? What was the connection?

  4. #14

    Join Date
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    Oh if you want to avoid rent and get rich, then buy a place. If you buy something for HK$6m, get a mortgage for 80%, the interest you pay back to bank every month on the mortgage is something like $6k/month. So you pay only $6k in bank interest instead of $15k-$25k in rent for a comparable property. They are just rough numbers, but you basically cut your monthly expenditure by two thirds, get to live in a nice $20k apartment for only $6k/month.

    Then if your $6m property increases in value, this is all just extra bonus on top of savings above. For example, if a year later your $6m property is worth $7m, then as well as paying two thirds less in monthly expenditure, you also have on paper a net worth increase of $1m. Then you can quit your job and still be worth $1m more every year.

    If your $6m property stays the same $6m after a year, no problem, you still save two thirds less in monthly expenditure and enjoy living in a $20k apartment for only $6k.

    If your $6m property goes down in value, forget this one, will never happen


  5. #15

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    Quote Originally Posted by RobRoy:
    Really, refugees then from the famous Vietnam period or how did that come about?
    Long history, Colonial times army movement, Gurkhas for special purpose, WWII hangover, India- Pakistan partition etc but mostly related to British governance in both places..
    qhank likes this.

  6. #16

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    Quote Originally Posted by ndt:
    Long history, Colonial times army movement, Gurkhas for special purpose, WWII hangover, India- Pakistan partition etc but mostly related to British governance in both places..

    It was the Vietnam bit that confused me.

  7. #17

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    Quote Originally Posted by hullexile:
    It was the Vietnam bit that confused me.
    You do not define Vietnam as south Asia?

  8. #18

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    Quote Originally Posted by RobRoy:
    You do not define Vietnam as south Asia?
    ASEAN ...
    rainylin likes this.

  9. #19

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    Do know of at least one family who has been in HK for close to 25+ years who managed to get their Public Housing allocated about a decade+ of wait.

    Gotta meet the criteria and wait forever. Might change as we move towards common prosperity goals, but the queue is going to be HUGE... currently allocation numbers are from 2015 from the HA page.

    hullexile likes this.

  10. #20

    @bdw
    Never say never...

    But paying $2k flat for life , without having any other burden than decorating your own place, is certainly a better way to get rich


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