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Hong Kong most expensive city to rent....

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  1. #21

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    And this brings us back to the point that the public should work around this by putting a community driven database out there to share the real numbers on our properties.

    I am sure somebody in the market for a new flat to lease or buy would be willing to spend a few dollars (US) for an app that gives them some numbers without viewing the property and getting out the yardstick. But best would be free of course.

    Waiting for the government is no use, so I don't understand why nobody with the right connections comes up with that. Don't tell me everybody is playing the same game, it only takes one guy with access to the right data to get started. And with the right support (media, social networks, etc) it would take of very quick IMHO.

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  2. #22

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    Quote Originally Posted by 100LL:
    And this brings us back to the point that the public should work around this by putting a community driven database out there to share the real numbers on our properties.

    I am sure somebody in the market for a new flat to lease or buy would be willing to spend a few dollars (US) for an app that gives them some numbers without viewing the property and getting out the yardstick. But best would be free of course.

    Waiting for the government is no use, so I don't understand why nobody with the right connections comes up with that. Don't tell me everybody is playing the same game, it only takes one guy with access to the right data to get started. And with the right support (media, social networks, etc) it would take of very quick IMHO.
    But are you sure getting the "right data" is really that easy, and is that "data" really that accurate?

    Might be somewhat easier for used properties, but for new ones, the developers hold the info and they can manipulate it as much as they can.
    Last edited by Watercooler; 01-03-2012 at 02:16 PM.

  3. #23

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    Quote Originally Posted by 100LL:
    And this brings us back to the point that the public should work around this by putting a community driven database out there to share the real numbers on our properties.

    I am sure somebody in the market for a new flat to lease or buy would be willing to spend a few dollars (US) for an app that gives them some numbers without viewing the property and getting out the yardstick. But best would be free of course.

    Waiting for the government is no use, so I don't understand why nobody with the right connections comes up with that. Don't tell me everybody is playing the same game, it only takes one guy with access to the right data to get started. And with the right support (media, social networks, etc) it would take of very quick IMHO.
    So how did you measure your flat finallly?

  4. #24

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    Quote Originally Posted by Watercooler:
    But are you sure getting the "right data" is really that easy, and is that "data" really that accurate?

    Might be somewhat easier for used properties, but for new ones, the developers hold the info and they can manipulate it as much as they can.
    This would primarily be for the second hand market. But even for new properties people who view the real flats (or show flats) can input data and share with others.

    May not be 100% accurate, but it's better than nothing. And if you have multiple inputs for one estate (they usually only have several type of flats) the numbers make more sense so it's easy to spot wrong information.

    This kind of app could be used not only for the plain numbers, but also to rate other things and highlight advantages and disadvantages of properties. Basically like an OpenRice for flats. They also have it for bus stations, car parks, etc, so why not for properties.

    The initial release would need some sort of mass data input, best from somebody with access to the data (property agents have it I guess, but possibly also available from the government).

    I have no idea who many property transactions there are in HK every day (easy to find out), but I believe the purchase and lease numbers both together are big enough to show there are enough people in need for more data on a daily basis.
    Last edited by 100LL; 01-03-2012 at 02:24 PM.
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  5. #25

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    Quote Originally Posted by Mat:
    100LL when you measured, did you measure wall to wall or wall to say kitchen cabinet, wall to bathub as such without counting the wall cabinet/bathtub as part of the net?
    Sorry, didn't see your post before.

    Wall to wall of course.

  6. #26

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    Quote Originally Posted by Swannie:
    I think it would be nice to have the real floor areas just like I would appreciate having real flight prices advertised however only a moron will actually be fooled so it's not that big a deal.
    That may be true for advertising, but how often do you rent a flat by looking at an ad? You typically use a web site of a property agent or you stand in front of their window and look at the posters or you ask them for a number of flats.

    I don't know about you, but I do use web sites and apps to search for flights that show me the total cost. If they don't, they will at least tell me I have to pay airport fees and fuel surcharge and I can get a total after a few clicks. I don't have to go to the airport and inspect papers and documents and read small print after they already made me sign a few things, just to find out it's not what I am looking for (and then go back home and do another search). That's how the property business currently runs in HK and it has worked this way since I arrived here in the 90s.

    This flight analogy is not the best in my opinion. It would be if you find out your flight to Bangkok actually only takes you half way there, but you only find out when you are already on the airport to check-in
    Last edited by 100LL; 01-03-2012 at 02:34 PM.
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  7. #27

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    Quote Originally Posted by 100LL:
    Sorry, didn't see your post before.

    Wall to wall of course.

    OK - odd then.

    After reading your post I measured mine last night. Not 100% the same Net(but I assume I did not measure exactly perfectly) but still very close (between the Net official and the Net I measured).

    Could it be a Gvt housing issue? would be interesting to see who could really explain the difference (in my case the property is in a private building built in 1997)

  8. #28

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    Quote Originally Posted by Mat:
    OK - odd then.

    After reading your post I measured mine last night. Not 100% the same Net(but I assume I did not measure exactly perfectly) but still very close (between the Net official and the Net I measured).

    Could it be a Gvt housing issue? would be interesting to see who could really explain the difference (in my case the property is in a private building built in 1997)
    It's private, coop between Sun Hung Kai, China Resources and Cheung Kong. The club house is huge. But this should be accounted for in the net area that HSBC has if I am not wrong.

    Clearly, if I am one of a few exceptions and the net values are usually trustworthy, then all this talk about a community effort to establish a database is pointless.

  9. #29

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    Quote Originally Posted by 100LL:
    It's private, coop between Sun Hung Kai, China Resources and Cheung Kong. The club house is huge. But this should be accounted for in the net area that HSBC has if I am not wrong.

    Clearly, if I am one of a few exceptions and the net values are usually trustworthy, then all this talk about a community effort to establish a database is pointless.
    1. yes correct
    2. donno, never measured before in the 4 flats I rented (ie there was always a diff between the gross and the net usually the net was 75 to 82% of the gross) so maybe it's just my case that my measurement pretty much fit the net advertisted (there is 2 % diff from what I measure last night..but I am no pro at this so..)

  10. #30

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    Would you buy a used car without having it looked over by a mechanic? I certainly wouldn't... As to newer flats, it's easy to find floor plans and as far as I know and have experienced, they are accurate. On top of it, I don't see it as a waste of time to take 10 minutes to verify where I might invest a few millions...

    I don't disagree that it's idiotic the way flats are measured but frankly on the list of things that bother me, it's pretty far down. I'm far more concerned about the things that are harder to see which goes to the construction standards which tend to be pretty abysmal in HK (and frankly all over the world, honest developers and builders are as common as flying pigs in my opinion)