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desertorchid

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Everything posted by desertorchid

  1. In my workplace in HK practically everyone has cashed out of their property investments (sometimes with profits in excess of 4-5 million HKD). No-one is seriously considering buying and their income would be in the top 1-5% in HK. They're effectively feeling priced out. Hong Kong property cannot continue to rise. The only purchases now are from people trading up/sideways having made a profit on their recent sale. The only possibilty is stable prices/ low sales for a number of years as wages inflate. This, IMO is unlikely to happen and a 20%-30% fall is nigh on certain for the next year+.
  2. Hong Kong property prices finally gone parabolic: Hong Kong property prices Rises of 7-10% PER MONTH not uncommon. It is surely now too late for the government to intervene to prevent anything other than a nasty outcome for this market.
  3. What is happening in HK right now is truly astonishing. Rent is going through the roof and I am commonly hearing of rate hikes between 40-50%. Hong Kong may well be pricing itself out of the game in SE Asia as expats consider the true cost of living here. Some windfall gains i'm hearing of are eye watering. A colleagues is closing a deal this week for a 10 million HKD profit on a 7 million purchase in 2006. This is all madness and unless the government does something unpopular fast it is very likely to end in tears. But as always the question is when not if...............
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