Are the Hong Kong property prices dropping this year?



  • Are the Hong Kong property prices dropping this year?


  • admin

    In my dreams... Nope, it's going up, up, and up because government and developers are practically lying in bed together, scratching each other's back.

    Therefore little peasants like us have to work our butt off for a down payment and then slave our whole life away paying for the mortgage and possibly our next generation's as well. Especially since 1997, life has gone from bad to total crap.

    Many western countries have limitations and restrictions on non-resident buying properties, but not in HK, anyone can come to buy properties, so it's become a safe and close at hand money laundering haven (via property purchase) for those in nearby regions.

    I seriously feel sorry for the young people in HK because I don't see a way out for them to own their place, the only choice left is to rent a tiny, tinny weenie cubicle to call home.

    ===

    I agree with the fact that the overall trend shows that property prices are increasing in Hong Kong, but if you look at monthly price changes, property prices in certain areas are dropping. According to data gathered from http://www.spacious.hk, property prices in areas such as Fo Tan, Sha Tin, and Sai Kung have fallen in the last month. Usually, these areas are quite famous and family-friendly. Still, it may be due to the unaffordable international school fees, which are causing ex-pat families to move out of Hong Kong.