Yes, it would be nice if property could be for people to live in, rather than for speculating upon.
Hmm, what was that? I dozed off? Muttering something about property in my sleep?
Yes, it would be nice if property could be for people to live in, rather than for speculating upon.
Hmm, what was that? I dozed off? Muttering something about property in my sleep?
Many thanks PDLM.
I find it very strange that HK is the only place that allow to bring in 60 cigarettes while everywhere is max of 200 cigarettes
Do you know roughly how much duty have to pay for extra 3 packets if i return to HK tonight (want to bring back total of 6 packets)? THis is proberly a million dollar question....
Last edited by eggmonster; 23-02-2010 at 05:36 PM.
The duty on cigarettes above the duty-free limit is HK$1.206 per stick. So 3 extra packets of 20 will cost you $72.36.
And different countries have different limits. For example, you may not take ANY cigarettes into Singapore without paying duty.
Last edited by PDLM; 23-02-2010 at 05:39 PM.
Cigs cost about 40 depending on brand (Dunhill $40, 555 $41). One of the reasons for the low allowance is that people travel very frequently here and the price of cigarettes is a lot lower elsewhere in Asia (Singapore and Japan excepted).
Anyone following this advice is heading for big fall. I've seen a few bubbles in my life, and read extensively about others as part of my professional curiosity. There is zero doubt in my mind that Hong Kong (and China generally) property is in a huge asset bubble that is going to burst very nastily and make a lot of people homeless and/or bankrupt.
The post above exemplifies exactly the human frailties - greed and the suspension of rational thought - that propagate and sustain bubbles. Human greed - the belief in "something for nothing" is the root of all bubbles, where an assets price becomes uncorrelated with it's economic value and people buy because "it's going up".
When bubbles burst, buyers disappear and liquidity drains from markets faster than punters during a police raid at a Mongkok sauna.
Panic replaces greed and first the trickle of sellers becomes a stream, then a river and then a full on flood... as asset prices keep tumbling, the magic of leverage on the way up turns into a horror show on the way down.
Beware anyone considering buying Hong Kong property as an investment now - you might as well set fire to your money.
Also, most of the millionaire are from China in Hong Kong. Hong Kong consist a little percentage.
They are: retired too
according to tvb news jade at 6:30 pm.
My predictions:-
1) Duty on Cigs up $5-10
2) A new set of random initiatives
3) Radio silence on past ones (electric cars, Islamic finance)
What I would like to see but have no hope in hell seeing-
1) Heavy road tax on emission spewing trucks whose scrap value is likely to be zero and no one else in the third world would want.