Hi KJC, I think HK is now, as expense goes, on par with NYC, London and Tokyo, after having had a 50-60% decline in property prices (1997-98). All costs are driven off the real estate cost.
HK is not so expensive once the home is paid for (cab rides, food, etc), whereas Tokyo is still expensive after the home is taken care off (grape fruits, etc).
crownworldwide.com
Southside (including Chung Hom Kok, Deepwater Bay, Repulse Bay, Stanley and Tai Tam),
hongkongpropertyman.com
... are good residential locations, in terms of air/water, quiet walks, housing density, size and facilities, proximity to international schools and super markets with the better goodies (i.e. prepared Japanese food, BBQed stuff).
The Peak,
hongkongpropertyman.com
... is another good location, in terms of all of above except for schools, but closer to Central, which is the finance (as opposed to commerce, i.e. trading of goods) district. The temperature on the The Peak is more bearable, but that advantage has been nulled by the air-conditioner.
Midlevel,
hongkongpropertyman.com
... is an area between Central and The Peak, is closer to Central, and offers quality but very high density living, giving folks the opportunity to pay mucho mullah and have each other's toilets for view.
Most of the urban working salaried professional man live in places like Happy Valley and Pok Fo Lum,
hongkongpropertyman.com
hongkongpropertyman.com
... which are actually more expensive considering the lack of views, smaller apartments, in denser mass, on a square foot basis. But many HK folks prefer dense, small but closer to noodle shop at mid-night hours.
<<housing for the common man>>, if they are the equivalent of the second and third 15% of income, can be found in many locations, all within easy commute to everywhere else (HK has truly excellent public franchised/private operated transport systems) ... here is a good way to understand HK from an outsider's POV,
bigwhiteguy.com
... which clearly demonstrates the cost of Money Rock Hong Kong and Freedom Mountain Kowloon (about USD 1,000 per square foot gross construction area), and what folks are prepared to put up with to nibble on a piece of proverbial pie and sip at the spring of "low tax and nalmost no government".
The pie taste has gone off a bit lately, but, comparatively, still OK, given 60% housing cost drop.
Once folks have grabbed their piece of the pie, they tend to wander off to North America and AustraAsia, or if they are more adventurous, to Southern Europe or South East Asia, and they build (as some Canadian posters may be able to relate) absolutely ph%$%^9king monster homes.
I understand some US airlines will be charging large passengers the price of two tickets. These same large folks would go insane in a typical HK apartment.
End of quick tour:0)
Chugs, Jay |
