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Landlords selling property

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  1. #11

    Join Date
    Jun 2016
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    Quote Originally Posted by chuckster007:
    Or the landlord is sick of dealing with misshappy26 from overseas and doesnt want the headache anymore lol
    Probably. Also, the landlord just wants to get rid of the current tenant?

  2. #12

    Join Date
    Feb 2011
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    Hong Kong
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    Quote Originally Posted by bdw:
    Well HK property prices are right now sitting flat on the highest they have ever been in all of eternity. So I think quite normal some people will use this time to sell. But I haven't seen any evidence of mass selling or panic just yet. What your landlord does is a sample of 1 and not large enough to form any conclusions about. HSI stocks are down, yes, but then they are down globally due to a number of global factors. So overall, I would argue HK stocks/property have yet to feel any effect of local protest/political situation. The next month will be interesting to see if things die now and get back to normal, or if they continue and start to cause some real damage.

    I'm gambling that things will get back to normal at some point and HK property will not be too affected overall. I'm now planning to leave HK end of this year, but will keep my HK property and become a landlord. I have no interest in selling it now. This property I purchased in HK has set me up for life, I have just refinanced my mortgage up to 50% of it's value and buying another property in Australia now with cash from this, will bring my portfolio up to 6 properties in 3 countries all thanks to the dramatic rise in my HK property over the last 10 years.
    Well it doesn't matter what the property market does, rentals should be pretty stable, prices always go up at the end of the day you still have your other properties.

    There isn't much movement in the market. Most of the asking prices are landlords who are selling if the price sells for a couple mil above market value or most likely rent out. The cycle repeats. It's very rate to see an owner occupied "real transaction" flat. These will have to lower the price to attract a real sale.

    Yuen Long recently was less than 7-8k per sq ft. It's only recently they are pushing 15k per sq ft and when the new phases of Grand Yoho finish they will push to 22-23k per sq ft.

    People back out of deals for various reasons - the job market will start to be shaky in the near future too with the prolonged protests and global recession.

    The property market though is very strong. There are lots of owners who rent out and move overseas and the stable worry free income keeps coming in with little maintenance required. These landlords will unlikely sell anytime soon, such as bdw and many others in his shoes. Chinese families are very stable in their homes. So there is a very small supply of flats available.