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Hong Kong Property Price

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  1. #41

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    I see Lohas Park hitting close to 10k/sqft in some of the older building listings (~12 years old).

    Thats another 10% drop from previous months at 11-12k/sqft


  2. #42

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    This looks like it's going to be a secular contraction in housing prices and possibly everything connected to HK.

    Remember, peak to trough housing during the 1997-2003 decline was 70%. 70%. 70%.

    Let that settle in for a moment...

    Hkemail888 likes this.

  3. #43

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    Quote Originally Posted by seirin:
    Remember, peak to trough housing during the 1997-2003 decline was 70%. 70%. 70%.
    Do you recall what the trough to peak was?
    bdw likes this.

  4. #44

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    Quote Originally Posted by shri:
    Do you recall what the trough to peak was?
    There was a Bloomberg article that mentioned this - I think it was 500%. Peak to peak is probably a more interesting comparison though because there's a quote that says the only thing you get from trying to pick a bottom is a smelly finger.

  5. #45

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    Sorry, I meant the recovery from trough to previous peak levels. I do recall a sharp bounch in the years after SARS. Fortunes were made ..


  6. #46
    Quote Originally Posted by shri:
    Sorry, I meant the recovery from trough to previous peak levels. I do recall a sharp bounch in the years after SARS. Fortunes were made ..
    IIRC, around that time developers were offering second mortgages of 25% with no interest or principal payments for 4 years. They were also paying the conveyancing costs.

    I remember Peter Churchouse doing seminars explain how cheap HK property was. The P+I payments on a 70% first mortgage from a bank were sometimes less than the monthly rent on the same property.
    shri and bdw like this.

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