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House in HK ?

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  1. #11

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    Quote Originally Posted by hullexile:
    You have answered your own question:
    I don't think that is entirely correct. Many of the village houses are in fact not expensive but are located far away from shopping/business district. Many people prefer to live in more convenient places so they have access to MTR, shops, closer to work, have access to facilities, better security/safer. Basically all the reasons you mentioned in your post.

  2. #12

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    Exactly - a decent detached house here (of the sort that I might live in were I in, say, the UK or New Zealand) would cost several million US$ here. My shoebox (by other countries' standards) of an apartment is rapidly approaching US$1M in value.


  3. #13

    Thank you all for your valuable input.
    During an exploratory visit in HK earlier this year, we were surprized that there is no substantial price difference between a nice condo and a private house. Our experience here in Singapore is that there is a huge gap between even over-average condo and modest houses.
    We therorized that there were 2 sets of reasons for this : either poor logistics / lack of security were penalizing the houses, or there were hidden costs that made owning a house much more expensive than a flat. Regarding this latter point, we assumed that there were additional taxes on house/land ownership/occupation, but so far none of the forummer has mentioned any, so there should be no obvious difference here. There may be additional maintenance on houses ?
    Gilles confirmed that an inferior logistics/security may be the reason behind the lack of interest in houses, and previously Carang indicated that electrical consumption was way higher in a house. But in both cases there was nothing major : it's not like living in a house in HK expose you to danger, or multiply 3 folds your living costs (or I am wrong ?).
    So I wonder if it is fair to say that, unless you need to commute daily to a business district, there is no significant difference in costs between a flat and a house ? If that is the case, then houses are indeed attractive for people like us who do not have to commute at fixed time for either work or school. The logistics and lifestyle are some somehow compensated by a better/quieter environment and ususally larger surfaces.
    Thank you all for your interesting contribution, please keep it coming !
    Helen


  4. #14

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    It's not like security is a huge issue but the chances of someone breaking in into your 26th floor apartment with bars on the windows, double gates and security guards are pretty slim. Many complex also offer clubhouses with a lot of amenities that a house wouldn't and then there's the commute which is longer. In return, you may have a place to park a car, perhaps more peace and quiet if there aren't too many dogs around and lots more space. Easier to have BBQs, pets, plants, garden etc...

    Most people here didn't grow up in a house so they don't necessarily miss it like someone who may have grown up in a Western country and many like the convenience of being in the centre of things. I have met HK chinese that went to Vancouver and hated it, they thought it was so boring and dead. Others loved the clean air and the space.


  5. #15

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    Quote Originally Posted by Fred Chan:
    So I wonder if it is fair to say that, unless you need to commute daily to a business district, there is no significant difference in costs between a flat and a house ?
    You either have worded this poorly, or you have no idea.

    That is kind of like saying: I can spend US$3m and live in the city or spend US$1m and live a 30min drive away. Everywhere in the world the prices on land/houses/apartments are based on how central they are to the main area of the village/town/city/metroplis.


  6. #16

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    Quote Originally Posted by Crocodile:
    You either have worded this poorly, or you have no idea.

    That is kind of like saying: I can spend US$3m and live in the city or spend US$1m and live a 30min drive away. Everywhere in the world the prices on land/houses/apartments are based on how central they are to the main area of the village/town/city/metroplis.

    Except Hull where you pay a premium to live further away from it
    bookblogger likes this.

  7. #17

    Crocodile,

    My point was that, as we don't have any specific need to live downtown as both of us can afford to work from home, a house could make sense. If we had to go to a determined location daily, at fixed times, either for work or to drop kids at school, we would have the constrainst to be relatively close from where the action is. This is not the case, so my question could be : if you don't have to commute, are there any reasons (security as pertinently pointed out by Gilles, or costs), justifying buying a flat rather than a house in the HK environment.
    Hopefully the wording of this latter question will be clearer than the previous one; if you still can't dig it, please let me know and I'll PM you in Chinese, my mother tongue.
    Thanks to all for your informative responses.
    Helen


  8. #18

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    just because you dont have to travel doesnt mean others dont. there are no free standing homes less than hk$10 mil within 1 hr commute by public transport to central / wan chai / tst where a lot of people work.

    there are people with kids so proximity to a school is an issue.

    i think to need to see and understand hong kong and hong kong homes. comparing hk to singapore is not very relevant.

    you maybe able to buy a small townhouse on the island for about $60 mil right now (jardines lookout). a house with no views and hidden beneath the concrete jungle of hong kong.


  9. #19

    Thanks DD for your input. You are right : we don't necessarily have the same needs/constrainsts that the vast majority of expats in HK. For one we don't have to commute so we can probably live in places less accessible than what most of people would consider acceptable. We also don't have to consider the proximity of schools or colleges. So the question for us is simply to determine whether to buy a flat of a house, knowing that a quiet environment is more important than the proximity of trendy restaurants. Obviously we'd want to have some access to public transportation, but it would not have to be as convenient as what a daily commuter would require (could be for example minibus to a MTR or bus station). My OP was basically asking about comparative costs flat vs houses in HK (not in term of purchasing price, but more from a running costs perspective : taxes/rates/fees/utilities...)
    Thanks again to all contributors for your help
    Helen


  10. #20

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    Well unfortunately the mobile part of this site doesn't work well enough to edit the quote from dumbdonkey. Particularly the absolutely laughable assertion that you cannot buy a house for less than 10 mil within an hour of Central / TST. That is typical dumb island mentality.
    Posted via Mobile Device

    Skyhook likes this.