Who is leaving HK, Anecdotal Evidence - Part 2

Plutark · 17-09-2021, 08:44 AM

Originally Posted by Elegiaque:

How many people have to leave for home prices and rent to fall? How are LLs continuing to fill up flats?

I was talking to my landlord, he basically told me they don't really care about the rent. They bought the property for 2 million, it's now worth 7. Just on the value itself it's worth it. I can see maybe mail boxes filled up so it looks like a lot of landlords just hold onto it and do not bother renting it out.

stickyears · 17-09-2021, 10:16 AM

https://www.reuters.com/article/us-h...-idUSKBN2GC27C

Elegiaque · 17-09-2021, 10:31 AM

Originally Posted by Plutark:

I was talking to my landlord, he basically told me they don't really care about the rent. They bought the property for 2 million, it's now worth 7. Just on the value itself it's worth it. I can see maybe mail boxes filled up so it looks like a lot of landlords just hold onto it and do not bother renting it out.

Well, I can't buy a property at $2 million and ensure the rent would cover a mortgage. For those of us who have arrived just in 2012 and after (PR tax), I don't think Hong Kong has offered those golden opportunities other expats experienced when they arrived before, grabbed a property, made a good salary and now have flexibility.

All these things point to a housing bubble crash. At least logically I cannot see the sense of trying to make Hong Kong a permanent base when it's so difficult to buy. It is yet another motivating factor to leave. At least we earned good salaries and have cash. Now, though, we can't even travel to other countries to secure a mortgage/home with our current jobs. These are financial disadvantages at our mid-age.

My list for planning to leave within a year:
- Cannot realistically own a decent property.
- Bored.
- Don't like the fear of living under the NSL (if I had been in that American lawyer's position, I probably would have done the same as him...)
- Don't feel Hong Kong could be a long-time home like it has been for those who arrived earlier.
- I'm kind of pissed off with Hong Kong and the personal sacrifices that have hit me this past year. Need a fresh start.
- I'm fed up with the "rules apply according to my power" approach in this city, which obviously has major implications, but can also be felt in just petty daily things.

While the work is still good here, and the pay perhaps the best in the world, it's just not worth it.

(Sorry, I'm really down... been hard times...)

Jillypots · 17-09-2021, 02:06 PM

Originally Posted by Blowfish:

I'm out of here next month. Have reached my limit. Wish my stay here could have been longer. Don't see how the situation here improves any time soon.

Good luck!!

D.YU · 17-09-2021, 02:15 PM

Originally Posted by Blowfish:

I'm out of here next month. Have reached my limit. Wish my stay here could have been longer. Don't see how the situation here improves any time soon.

Just curious. What are your reasonS to leave?

Blowfish · 17-09-2021, 02:25 PM

Originally Posted by D.YU:

Just curious. What are your reasonS to leave?

From the protests to covid i think it will take HK a long long time to recover, if it can at all. My industry has been hit hard by covid as well, so that has its own issues.

But mainly its the impossible position the city is in in regards to covid and how it exercises control over the population. It has worn me down immensely and I dont see a path out of it. When i ask myself if its worth my mental health.... The answer is no. Societies general apathy towards the restrictions and the covid situation in hk is something that i struggle with as well. I also feel there is alot more pain to come here. Money can always be earnt elsewhere at the end of the day, so i might as well put myself in a situation that makes me happy.

No where is perfect, but spending 21 days in quarantine and being treated like a prisioner for sitting on an aeroplane was the final straw.

D.YU · 17-09-2021, 02:30 PM

Originally Posted by Blowfish:

From the protests to covid i think it will take HK a long long time to recover, if it can at all. My industry has been hit hard by covid as well, so that has its own issues.

But mainly its the impossible position the city is in in regards to covid and how it exercises control over the population. It has worn me down immensely and I dont see a path out of it. When i ask myself if its worth my mental health.... The answer is no. Societies general apathy towards the restrictions and the covid situation in hk is something that i struggle with as well. I also feel there is alot more pain to come here. Money can always be earnt elsewhere at the end of the day, so i might as well put myself in a situation that makes me happy.

No where is perfect, but spending 21 days in quarantine and being treated like a prisioner for sitting on an aeroplane was the final straw.

Absolutely agree with your rationale. I think the cons outweigh any remaining benefits left in this city.

Wish you the best!

UniqueUserName · 17-09-2021, 07:46 PM

About 10% of my students have left. All for the UK. Another ~10% have mentioned leaving. Those tend to be the ones with another passport.

Myself, I still have a better deal here than in the UK. There's actually a lot of nasty political Animal Farm style stuff going on in the UK these days anyway. 5 eyes, 6 eyes. No face-sitting websites?

Not being able to leave is the hardest thing. Not being able to have a proper holiday and not being able to visit family is hard. It's been 2 years now.

But I prefer closed borders to open borders at this stage. I'd rather have that kind of lock down.

TheBrit · 17-09-2021, 08:12 PM

Originally Posted by UniqueUserName:

Myself, I still have a better deal here than in the UK. There's actually a lot of nasty political Animal Farm style stuff going on in the UK these days anyway. 5 eyes, 6 eyes. No face-sitting websites?

Can you elaborate?