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Buying a home...

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  1. #21

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    a regular day job is to pay the bills.
    if you want to make money you have to use other ways.


  2. #22

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    There are plenty of apartments in the Tuen Mun/Yuen Long corridor for under 1.5m


  3. #23

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    Ok, so what I understood from all your advise is -
    1. It's better to buy here in HK then say Thailand.
    2. There are properties in NT.
    3. Need to do thorough research before even think of buying.
    4. MIP Scheme can help get loan up to 90%.

    Thanks, much appreciated


  4. #24

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    Quote Originally Posted by gunsnroses:
    Ok, so what I understood from all your advise is -
    1. It's better to buy here in HK then say Thailand.
    2. There are properties in NT.
    3. Need to do thorough research before even think of buying.
    4. MIP Scheme can help get loan up to 90%.

    Thanks, much appreciated
    Perhaps an obvious point, but you must also consider all the fees involved with doing it which will cut into your already small budget !
    Personally on a small budget, it seems more risky to buy to let abroad unless you know someone local there and can oversee it when needed, at least in Hong Kong you would be living in it and banking some rent money and generally have more control over it.
    If you aren't picky in location and will venture into the N.T then you do have some choice, nothing huge tho, not sure if you are single or with family.

  5. #25

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    Investment club? Do you have any friends who could all pool together to buy one flat here in HK? I agree it's better to buy near where you live. We have places in Aus, UK and NZ and it can be a right pain in the neck managing properties a long way away, particularly if they need repairs etc. Or you can buy one small place in the NT - provided you can rent it, does it matter if it's quite small? You have to start somewhere!


  6. #26

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    London2HK, I am single at the moment, but won't stay that way for long (hopefully), yes I'll look up NT for anything that fits in my budget. I don't have requirement for fancy places, doesnt' matter if the building is a decade old etc.

    Movingin07, I don't think my friends are looking to invest, so that doesn't seem to be an option. But, I agree one has to start somewhere, even if it's small, it'd be a begining.


  7. #27

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    Quote Originally Posted by MovingIn07:
    Investment club?
    There must be a market for something like this - an investment club. I would love to pool and buy some property now. I will forever kick myself for getting out of the property market in the UK. My advice to anyone would be, no matter what, retain at least one piece of real estate no matter what!!

  8. #28

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    I on the other hand have never been happier since I got rid of my properties. They served me well but they were hassles, with tenants, with property managers, with taxes, with maintenance. Now, I have more cash on hand and am able to react quickly to invest or sell when it's needed and I have maintained a steady income stream without debts or tenants...

    I won't say never again but definitely not for now...

    As to buying with others, it may allow you to take advantage of an opportunity and provide support when dealing with the hassles of a property but it also means having to deal with someone if and when you need/want to sell or they may need cash and pressure you to sell at a bad time. Most of the people I know that went that route had issues though they all managed to work things out fairly amicably. It did put strains on relationships at times.

    It seems that if you're intent on going that route, your best bet is to buy a place for yourself somewhere in the NT and live in it. It will already be difficult to get a mortgage for that kind of property with the cash you have. I'd say it would be near impossible to get a 90% mortgage for such an investment property.

    Last edited by gilleshk; 31-03-2011 at 03:32 PM.

  9. #29

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    Quote Originally Posted by gunsnroses:
    ....I don't think my friends are looking to invest, so that doesn't seem to be an option. But, I agree one has to start somewhere, even if it's small, it'd be a begining.
    Quote Originally Posted by bryant.english:
    ....I would love to pool and buy some property now....
    A solution perhaps?

  10. #30

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    an interesting article ....

    Hong Kong homes becoming unattainable for regular citizens
    By Leslie Tang | Posted: 31 March 2011 1421 hrs


    HONG KONG: There is growing concern in Hong Kong that homes are becoming unattainable for regular citizens.

    Some young professionals are having a tough time buying their first home, and are forced to move to outlying areas.

    Market watchers attributed the red hot market to low interest rates, tight supply and hot money from mainland buyers.

    Raymond So, Professor of Finance, Hang Seng Management College, said: "The prices are not affordable to a normal person. The property prices are too high. When you look at the statistics, it's still affordable but to many people it is out of reach to the masses."

    Hong Kong homes becoming unattainable for the masses - Channel NewsAsia