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Strategies & Market Trends : HONG KONG
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To: Tom who wrote (2330)9/21/1998 2:32:00 PM
From: RealMuLan  Read Replies (1) of 2951
 
<< I also saw, recently, where Beijing was to up the rent on state housing by 50%. Subtle way to encourage home buyers.>>

Those who have the apartment under their own name, most likely, already bought them at a fraction of the market value. And those who do not have apartment under their own name (means their own working unit does not have housing for them, and they borrowed the apartment from a relative or friend) will have at least 10 years of housing subsidy from their working unit. So raising the rent will not have actual financial effect for those who have a job, at least that is the case in Beijing.

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