They still got people living in chicken cages and closet size rooms. I have no sympathy for the $270 billion dollars property lost. Rich people can take care of themselves, they just become less rich here, not poor.
Hong Kong 🇭🇰, as a financial center, is finished after China introduced the repressive "National Security" laws. - Talents have left. Businesses have closed. Millionaires have fled with their money. - Empty office buildings can be seen all over the former prosperous British colony.
A temporary inconvenience. Hong Kong property prices were held artificially high during British rule, with billions from land sales going back to England. After the British handover of Hong Kong to China, property tycoons' lackeys in government made it impossible for public housing bills to be passed through years of filibustering. An adjustment is in process, making housing more reasonable and affordable compared with the past for Hongkongers. Now it is in the dips. But will this last forever?
There is no such thing as unsinkable! Property market always tied to economy. If economy collapse due to politics, property market will certainly diminish.
@@snowsong100 collapse due to politics? hk has no globally relevant nor competitive industry in the 21st century to begin with! it was doomed to faillong before.
The reason for Hong Kong's historic high property prices is the result of the collusion between the colonial government when Hong Kong was a British colony and selected Hong Kong property developers limiting land parcels for high bids and bringing land sale profits back to Britain. Once entrenched, these same property developers with their representatives in the Hong Kong Government after the return of Hong Kong back to China sabotaged new land and property proposals by the government in its attempt to provide more public housing. With the internal security act and the purge of these people the SAR Government has been successfully implementing changes to property ownership and creating public housing. The collapse of the property market has helped make affordability better for tge masses.
Hong Kong property is a bad investment because property developers control everything. Each apartment has pages of terms and conditions set by a property management company. If you don't agree to their conditions. You can't buy the property. You pay property management fees plus taxes too. These apartments have design and sound issues. Majority of the apartment units are expensive and tiny.
Negative equality will result in falling prices. Foreigners continue to move out of Hong Kong continuously to find better investment opportunities in places like Bangkok.
Residential property in HK has direct correlation to interest rates. HKD follows Fed rate. When Fed decreases rates, market comes back, so what's the concern 🤷🏻♂️?
Different time now, China has improved so much that we don’t shop or lives in HK anymore. Many of us have been relocating to China instead. A bus or train ride only takes us 15-20 mins back to Hong Kong.
@@apt62 Even though I disagree at some degree, thanks for brining the XIANG GANG property market down anyway. Eventually the property will be almost the same as Shen Zhen properrt market. The only premium left is the build quality of the houses.
With China’s National Securities Law and HK slowing reverting back to China, HKers are leaving Hk permanently. So a continued population exodus over time will also reduce property prices…. Simple supply & demand…
Main reason is China has improved so much since Covid, most of us shops in China now, why? It’s much cheaper and better services than HK. Many of us hv relocated to China a train or bus ride only takes us 15-20 mins bk to Hong Kong.
People leaving HK does not mean population decline. Mainland chinese will rush in to fill the gap. The place will be as crowded as before if not more. Just less diverse, with mostly mainlanders becoming the new hongkongers.
They still got people living in chicken cages and closet size rooms. I have no sympathy for the $270 billion dollars property lost. Rich people can take care of themselves, they just become less rich here, not poor.
Hong Kong 🇭🇰, as a financial center, is finished after China introduced the repressive "National Security" laws.
- Talents have left. Businesses have closed. Millionaires have fled with their money.
- Empty office buildings can be seen all over the former prosperous British colony.
Yet people still live in coffin homes
They are rich, they can manage. No need to waste tears here....
A temporary inconvenience. Hong Kong property prices were held artificially high during British rule, with billions from land sales going back to England. After the British handover of Hong Kong to China, property tycoons' lackeys in government made it impossible for public housing bills to be passed through years of filibustering. An adjustment is in process, making housing more reasonable and affordable compared with the past for Hongkongers. Now it is in the dips. But will this last forever?
cheap property is always good for common people.
then go to afghanistan. plenty of cheap mud huts there.
Afganistan Uganda preety Cheap property no I am mad paying 5k$ rent yearly in Tel Aviv😊
For the billionaire investor class, this is a bad thing.
For those priced out since the GFC, this is a good thing.
There is no such thing as unsinkable! Property market always tied to economy. If economy collapse due to politics, property market will certainly diminish.
@@snowsong100 collapse due to politics? hk has no globally relevant nor competitive industry in the 21st century to begin with! it was doomed to faillong before.
Glad to know that property has reset to reasonable levels for regular people to afford homes. The reset will not be so calm in the west.
Exactly. Great comment.
you must be a bot from the government.
The reason for Hong Kong's historic high property prices is the result of the collusion between the colonial government when Hong Kong was a British colony and selected Hong Kong property developers limiting land parcels for high bids and bringing land sale profits back to Britain. Once entrenched, these same property developers with their representatives in the Hong Kong Government after the return of Hong Kong back to China sabotaged new land and property proposals by the government in its attempt to provide more public housing. With the internal security act and the purge of these people the SAR Government has been successfully implementing changes to property ownership and creating public housing. The collapse of the property market has helped make affordability better for tge masses.
Hong Kong property is a bad investment because property developers control everything. Each apartment has pages of terms and conditions set by a property management company. If you don't agree to their conditions. You can't buy the property. You pay property management fees plus taxes too. These apartments have design and sound issues. Majority of the apartment units are expensive and tiny.
Negative equality will result in falling prices. Foreigners continue to move out of Hong Kong continuously to find better investment opportunities in places like Bangkok.
Bro Hong Kong don’t exist anymore is mini China now😂😂😂
I’m sure Bloomberg was a booster of HK property too!
Residential property in HK has direct correlation to interest rates. HKD follows Fed rate. When Fed decreases rates, market comes back, so what's the concern 🤷🏻♂️?
Remember that what CNBC and Bloomberg sees as bad (i.e. low property prices) is good for the people (cheaper rent and mortgages).
when HK had to follow China in their covid19 madness, it made people realise that HK was already in post 2047....
Different time now, China has improved so much that we don’t shop or lives in HK anymore. Many of us have been relocating to China instead. A bus or train ride only takes us 15-20 mins back to Hong Kong.
@@apt62 Even though I disagree at some degree, thanks for brining the XIANG GANG property market down anyway.
Eventually the property will be almost the same as Shen Zhen properrt market. The only premium left is the build quality of the houses.
Hi troll
Cooking up the stall story again?
With China’s National Securities Law and HK slowing reverting back to China, HKers are leaving Hk permanently. So a continued population exodus over time will also reduce property prices…. Simple supply & demand…
Main reason is China has improved so much since Covid, most of us shops in China now, why? It’s much cheaper and better services than HK. Many of us hv relocated to China a train or bus ride only takes us 15-20 mins bk to Hong Kong.
We don't need bad apples nor pariah BNO.
I wonder why....
People leaving HK does not mean population decline. Mainland chinese will rush in to fill the gap. The place will be as crowded as before if not more. Just less diverse, with mostly mainlanders becoming the new hongkongers.
Most HK emigrants are returning since there's no place better than their own country.
@@TheKkpop1well some of them might returning until they acquired a new nationality, some of them never returned
Great Winnnie the Pool
Seriously, this old chestnut again on how disastrous China is managing its and HK economies 😂
중국이 손만대면 경제나 국가나 단체나 모두 다 망해버리네...ㅠㅜ