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    Default Hong Kong real estate still hot.

    https://www.bloomberg.com/news/artic...st-home-market

    $645,000 US for space enough to park two cars. Whut pandemic?
    SN11 - Nope.

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    What you mean "Still" Hot ...

    Always HOT .. lol

    Will be Hotter with weaker HK dollar now ...

    Even I have been dream to move back to Hong Kong ... but not talking about place to live, couldn't even afford to have just 3 parking spots ... ::>_<::
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    Some times I wonder, even if you can afford the tiny apartment in HK and get stable employment there, why would you want to live in HK?
    Owning a car is expensive and your lifestyle would be much different than it is here.

    Are many of us prepared to go to a HK lifestyle like that? You'd pretty much have to adopt a minimalist lifestyle whether you like it or not. We got spoiled here in Canada with the space.

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    A 2021 article talking about numbers in 2019. 2020 numbers may not be as rosy as HK became less attractive as springboard to get money out of CCP's reach once that new security law came in July and many are looking to sell out and flee.

    Taxes on transaction is also massive in HK:
    AVD of 15%, less if you are 1st time owner.
    BSD of 15%, if you are foreigner
    SSD of 10-20%, if you sell it again within 2 years of buying

    A recent article on an individual who had to leave HK after owning an apartment for 1 year ended up losing $1M HKD after all the taxes and fees on the transaction.

    Quote Originally Posted by Disoblige View Post
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    Some times I wonder, even if you can afford the tiny apartment in HK and get stable employment there, why would you want to live in HK?
    Owning a car is expensive and your lifestyle would be much different than it is here.

    Are many of us prepared to go to a HK lifestyle like that? You'd pretty much have to adopt a minimalist lifestyle whether you like it or not. We got spoiled here in Canada with the space.
    It's totally different. Car culture is for the rich only and unless you go north out of the island and Kowloon, there are very few roads that are fun to drive on anyway. Traffic everywhere unless you wait for late night/early morning.

    But for foodies and shopaholics, it's heaven on earth. As for a place to raise kids, it's probably worst place ever.
    Last edited by Xtrema; 01-06-2021 at 02:34 PM.

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    Quote Originally Posted by Disoblige View Post
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    Some times I wonder, even if you can afford the tiny apartment in HK and get stable employment there, why would you want to live in HK?
    Owning a car is expensive and your lifestyle would be much different than it is here.

    Are many of us prepared to go to a HK lifestyle like that? You'd pretty much have to adopt a minimalist lifestyle whether you like it or not. We got spoiled here in Canada with the space.
    I am kind of seeing the other way around, my parents/relitives/friends couldn't understand how can I live in such a boring place like Calgary for that long .. yes, housing is cheaper here "per sq foot", but the "fees", such as condo fees, water, electric bill, heat, etc are cheaper in HK(or other Asian cities) than Canada, yes, cars and parking are way more expensive, but don't "need" to drive there, my parents take bus/taxi/MTR too even they have few vehicles, and transportation fee is so much lower and cheaper, basic food is by far cheaper as well, more important, Salary in Hong Kong is way higher, plus lower (or no ) Tax, as least, that is my case, when I talk to friends in HK, (they are all in their 40's) their pay check is 3-4 times more than me in average ....

    I still talk to my parents and friends over there every day, not a chance they are willing to move here!
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    I grew up in Hong Kong and have since gone back many many times. Used to go back for a few months every year until I was no longer able to go back that frequently due to work commitment and family. If you have money, or live like you are on vacation, HK is heaven.

    Depending on the area, living lifestyle can be really good even if it's a tiny apartment. My family's place is just over 600sqf and at one point we have 4 adults living there, but I loved it because we were literately steps form the ocean and downstairs there were every amenities you can think of like multiple beaches, multiple indoor and out door pools, sauna, spa, tennis courts, sporting facilities (badminton, basketball, rock climbing, etc..), bowling, multiple fitness centers, etc..

    As soon as I step foot out of the resort style living, there's the rest of HK. if you can afford it, you can buy and eat whatever you want. Every major brand has a store in HK. Every major concerts or shows make a stop in HK as part of the Asia tour. Every type of cuisines at world class level can be had within a 30 min taxi ride. Boating, fishing, hiking. All there. For traveling, you are just a few hours away from all major Asia cities like Taipei, Tokyo, Seoul, Bangkok, Singapore, etc.. and you have direct flights to every single major city/hub around the world. If you want to gamble and party like Vegas, Macau is an hour away. If you want to go on a cruise, the port is in the heart of the city.

    It's a city I never got bored of. I can't wait to go back once everything is back to normal.
    Last edited by RX_EVOLV; 01-06-2021 at 04:02 PM.

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    Quote Originally Posted by Disoblige View Post
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    Some times I wonder, even if you can afford the tiny apartment in HK and get stable employment there, why would you want to live in HK?
    Owning a car is expensive and your lifestyle would be much different than it is here.

    Are many of us prepared to go to a HK lifestyle like that? You'd pretty much have to adopt a minimalist lifestyle whether you like it or not. We got spoiled here in Canada with the space.
    I think you answered your own question bro: lifestyle.

    I think the same for New York. It's busy as fuck and I'm spoiled by the amount of room we have here in Canada. But for some people, they thrive off the hustle and bustle, diversity, and the overall experience of living in one of the biggest cities in the world.

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    Quote Originally Posted by C4S View Post
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    Salary in Hong Kong is way higher, plus lower (or no ) Tax, as least, that is my case, when I talk to friends in HK, (they are all in their 40's) their pay check is 3-4 times more than me in average ....
    What field that they would make 3-4x than they would in Canada?

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    Quote Originally Posted by Disoblige View Post
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    What field that they would make 3-4x than they would in Canada?
    Just 3 times more than me ... not the same job, may be that is just my problem .. lol

    For my wife, her friends in HK, make similar money, but without the 40% + tax
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    Quote Originally Posted by Disoblige View Post
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    What field that they would make 3-4x than they would in Canada?
    HK Government. lol.

    It really depends. Jobs in foreign own entities pays better than local ones. But there are so much talents in Shenzhen for less that you rarely need HK employees unless absolutely have to. I think they are on par for most wages compared to Calgary. They just don't have to pay income taxes or very low income tax where we have pay 20% and up. So that's where they are making "more".

    But while you get tax less on income, housing is basically 10x the cost of Calgary tho.

    So look at it this way. Say on a 600sqft apartment and you make $10K/CAD per month, 25yr amort, 1%, 0 down (just for comparison, you can't do 0 down in HK, HK requires 40% down)

    HK
    Mortgage = $8K CAD/mth.
    Income tax = $0 CAD/mth.

    Calgary
    Mortgage = $1.2K CAD/mth.
    Tax = $2.4K CAD/mth (*if you don't max out RRSP)

    Quote Originally Posted by C4S View Post
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    Just 3 times more than me ... not the same job, may be that is just my problem .. lol

    For my wife, her friends in HK, make similar money, but without the 40% + tax
    They pay way more for top talent. Know a Serbian PM in construction sector. He wants to retire but they are paying insane amount of money to keep him because he get results.

    But typical jobs are not better or worse than any other western countries. If anything, the fierce competition and true capitalist system make wages kind of competitive.

    Quote Originally Posted by C4S View Post
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    I still talk to my parents and friends over there every day, not a chance they are willing to move here!
    There are 300k+ Canadian citizen in HK for this very reason.
    Last edited by Xtrema; 01-06-2021 at 05:31 PM.

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    Quote Originally Posted by Xtrema View Post
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    There are 300k+ Canadian citizen in HK for this very reason.
    That many? I know there are lots.. *_*

    Some of my friends are moving back to Canada (Well, to take advantage for medicine, school for their kids, etc .. as they are middle age like me as well) I don't know if I should be happy for them or not .. as they didn't pay a single dollar tax to Canada in last ~20 years .. but now want to take the benefit from us tax payers ....
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    Quote Originally Posted by C4S View Post
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    That many? I know there are lots.. *_*

    Some of my friends are moving back to Canada (Well, to take advantage for medicine, school for their kids, etc .. as they are middle age like me as well) I don't know if I should be happy for them or not .. as they didn't pay a single dollar tax to Canada in last ~20 years .. but now want to take the benefit from us tax payers ....
    They can't claim expat any more so whatever income they make will be taxable going forward. It's no different for someone who was working in Dubai for a few years and move back.

    If anything, they may contribute more economically than refugees we are accepting.

    A lot of people are fleeing now when security law was passed last July. And today's mass arrest of all pro-democracy people based on that new law probably accelerate the return and massive immigration wave from HK.

    That law is super vague and give cops a lot of power. Anything consider anti-government is an arrestable offence. Down to bad mouthing a simple clerk.

    Now I'm not sure if arresting people in 2021 has anything to do on calling Trudeau's bluff on this new immigration rule from HK.
    https://www.canada.ca/en/immigration...hong-kong.html

    I'm sure China want to see how overwhelmed Canada immigration would be and see how many people Canada will accept that they don't really want on their soil anyway.
    Last edited by Xtrema; 01-06-2021 at 06:05 PM.

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    Quote Originally Posted by Xtrema View Post
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    If anything, they may contribute more economically than the Quebecois refugees that congregate on Princes Island.
    FTFY bro.

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    Quote Originally Posted by C4S View Post
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    Just 3 times more than me ... not the same job, may be that is just my problem .. lol

    For my wife, her friends in HK, make similar money, but without the 40% + tax
    Good news then! Soon our tax will match theirs, so that will be a moot point when deciding to move or not.

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    Quote Originally Posted by Xtrema View Post
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    It's totally different. Car culture is for the rich only and unless you go north out of the island and Kowloon, there are very few roads that are fun to drive on anyway. Traffic everywhere unless you wait for late night/early morning.

    But for foodies and shopaholics, it's heaven on earth. As for a place to raise kids, it's probably worst place ever.
    I drive daily in HK. Normal days the traffic is mind boggling. If theres ever an accident during rush hour, you can be stuck in a 1KM road for an hour. My regular commute time to work is around 45 min (one way). But odd times it hit 2 hours.

    However, today, the pandemic has helped traffic a lot lol. I love driving now, but I WFH now so I drive only 2 or 3 times a week.
    Originally posted by beyond_ban
    Yo Kanye, ima let you finish, but 50 Cent had the best concert cancellation of all time.

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    Quote Originally Posted by Xtrema View Post
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    There are 300k+ Canadian citizen in HK for this very reason.
    Lol im part of that 300k number (im a potential hostage for CCP).

    But the reason theres 300k CAD is not just "money". Canada is just god damn boring. I spend most of my 20's here and I know I would have regretted spending it in Canada (especially Calgary). The things I get to experience in HK is priceless. I got to experience 10x more things in the first year in Asia than I ever did in Calgary for 20+ years. Traveling is cheap and convenient within Asia. Food is great. Partying was insane.

    When I first came to HK I was living in a shoebox. But I was rare home. I was out exploring, partying, fucking around, having a life lol. Who needs a mansion when you are in your prime. I am older now, and I live in a better place far from the action. Which I still can say, I love it here more than Canada lol.

    I feel sorry for my friends and family who chose to boring and safe way to spend their prime.

    There are cons to HK, shitty people you deal with daily from servers to coworkers (locals). Crazy queues for EVERYTHING that is popular (such as 5 guys burger when it came to hk.. the line up was like a mile long). Poor manners, no one holds the door for you lol. Cramped malls, busses, trains, restaurants etc. Hard to get foreign goods without paying a huge premium. Rich people you just hate.
    Originally posted by beyond_ban
    Yo Kanye, ima let you finish, but 50 Cent had the best concert cancellation of all time.

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    Quote Originally Posted by Power_Of_Rotary View Post
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    Lol im part of that 300k number (im a potential hostage for CCP).

    But the reason theres 300k CAD is not just "money". Canada is just god damn boring. I spend most of my 20's here and I know I would have regretted spending it in Canada (especially Calgary). The things I get to experience in HK is priceless. I got to experience 10x more things in the first year in Asia than I ever did in Calgary for 20+ years. Traveling is cheap and convenient within Asia. Food is great. Partying was insane.

    When I first came to HK I was living in a shoebox. But I was rare home. I was out exploring, partying, fucking around, having a life lol. Who needs a mansion when you are in your prime. I am older now, and I live in a better place far from the action. Which I still can say, I love it here more than Canada lol.

    I feel sorry for my friends and family who chose to boring and safe way to spend their prime.

    There are cons to HK, shitty people you deal with daily from servers to coworkers (locals). Crazy queues for EVERYTHING that is popular (such as 5 guys burger when it came to hk.. the line up was like a mile long). Poor manners, no one holds the door for you lol. Cramped malls, busses, trains, restaurants etc. Hard to get foreign goods without paying a huge premium. Rich people you just hate.
    I can only handle small doses. May be a few weeks at a time. I still prefer Japan over HK (besides partying). People are a lot nicer there.

    Do you have kids? Most of my relatives are thinking of leaving have kids. Kids are too stressed there with education and kids here are way happier.

    But those who don't have kids, they never want to leave. With all of Asia's most major cities/tourist spots within 3hr flight, it's awesome home base if you want to explore Asia too.

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    Quote Originally Posted by Xtrema View Post
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    But those who don't have kids, they never want to leave. With all of Asia's most major cities/tourist spots within 3hr flight, it's awesome home base if you want to explore Asia too.

    Actually, kind of true, HK is awesome, especially without kid, or kids already grown up ... it is very expensive to have kids over there (should say people somehow love to spend tons of money on kids) All my friends without kid, or already teenage, even they are Canadian/Aust, ask them to leave HK? Forget it .. but friends with small kids, somehow desperately want their kids to go somewhere speak English for school (even they don't )

    Well, but for some reason, lots of Hongers here, put their kids to private school, piano class, math class, swimming class, yoga class, Chinese class, whatever study class! .. then same shxt .. spending tons of money on kids, and no money to spend for themselves! So, end up .. same shxt!
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    Quote Originally Posted by Power_Of_Rotary View Post
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    There are cons to HK, shitty people you deal with daily from servers to coworkers (locals). Crazy queues for EVERYTHING that is popular (such as 5 guys burger when it came to hk.. the line up was like a mile long). Poor manners, no one holds the door for you lol. Cramped malls, busses, trains, restaurants etc. Hard to get foreign goods without paying a huge premium. Rich people you just hate.
    Everything you said here, especially the cramped spaces, is enough for me to never visit HK.

    I like my space.

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    Quote Originally Posted by C4S View Post
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    Forget it .. but friends with small kids, somehow desperately want their kids to go somewhere speak English for school (even they don't )

    Well, but for some reason, lots of Hongers here, put their kids to private school, piano class, math class, swimming class, yoga class, Chinese class, whatever study class! .. then same shxt .. spending tons of money on kids, and no money to spend for themselves! So, end up .. same shxt!
    Speaking fluent English gives you better opportunity in foreign companies = better treatments. My cousin manages a team in India from HK. Something you can't do if all you don't speak English. Also HK's main competitor is Singapore where English is the official language.

    Even if you go back to mainland China, you can only graduate with 1 foreign language exam of your choice (English/French/Russian/Japanese).

    I think all parents put kids into extracurricular activities, not just Hongers. Some may be hockey. Chinese school is just so they understand their old language but all languages are hard if you are not actively using it. As for math class, given there is a huge gap between high school and university math, it's not a bad idea to get ahead of the curve.

    Once you have kids, you really don't spend on yourself any more. Priority changes.

    - - - Updated - - -

    Quote Originally Posted by vengie View Post
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    Everything you said here, especially the cramped spaces, is enough for me to never visit HK.

    I like my space.
    Visit is fine. You just pay for whatever space you can afford during the visit.

    Living on the other hand.... this is what $500K CAD buys you.

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