I would say speculative activity has caused a speculative premium to be attached to market prices which is ONE of the major factors why their is unaffordable housing in Hong Kong.
Your assertion that the HK housing will be poorly maintained just will not happen. Think of anti-speculation measures like a car, when you get near your destination, you slow down. Same with CGT, once homes approaches affordable, you relax the tax rates.
There is a massive disparity between poor and rich here and the HKGov seem to perpetuate this widening gap with its self serving policies on housing. There's nothing in this budget to put off rich property speculators, if anything the HKGov just made the market even more exclusive and desirable.
Last edited by mrdollars; 11-03-2015 at 12:37 PM.
You like your labels don't you? Well, I am no socialist and wanting measures to address an unfair affordable housing problem doesn't define me as one. This isn't an issue about rich versus poor, or socialism versus capitalism - its about addressing an unfair social injustice where honest hard-working people on above average wages can't afford or find it difficult to buy homes and start families.
The Property cycle in Singapore has been less than 18 years (like 15-16 years)
The Top is in, apparently.
This is from today's HK Standard, pg.18
Slipping in Singapore - in the Overseas Property column by Tony Liaw
+ Urban Redevelopment Authority data shows prices dropped 4% last year, after +1.1% in 2013
+ Secondary market flats were down: Luxury flats averaged S$2,650 (HK$14,908) psf: - 6.2%
+ New condos were down 17% (!) to S$2,450 psf
+ Rents also fell, being down 3%, after a 0.9% gain in 2013
A construction worker walks by the largely vacant Cape Royale condominium in Sentosa Cove
Last edited by OffThePeak; 12-03-2015 at 05:57 PM.
Or "LIVE FURTHER AWAY", as you have failed to note.Original Post Deleted
And as many do in most countries (like the UK where you will find many commutes of 1 to 1 1/2 hours each way. )
But it is standard practice on this thread to ignore half of the facts to make some point that is based on half-baked logic.
Last edited by OffThePeak; 12-03-2015 at 06:08 PM.