YOGAYUGA

I have been browsing around, and saw this article on yahoo about cost of California homes. I indeed feel cost of houses/flats in Hong Kong is extremely expensive. The photo was shown on the right hand corner of the article stated 4 bed rooms home, currently on the market for $1.87 million with Pacific Ocean views in California.

Guess what? Same size, same look but of course with different views such as facing SOUTH CHINA SEA, not PACIFIC OCEAN……Such houses in H.K. will cost you over USD8 million. You can only buy a flat in Hong Kong with USD1.87 million for 1,000 cu.ft., with views of road or next door neighbourhood in a city center. You may have a quarter of window view facing the Victoria Harbour. And you will be living on a level over 30th floor perhaps. The highest level the flat is located, the cost the more expensive.

Houses with three levels in my area now also cost USD1 million, and I am living in a suburb area You can see all those green lands with houses all around. It’s indeed congested, but much better than the city centre.

Somewhat, those paid high cost for an expensive flat in H.K., they can make the money back in a year or two. Hong Kong housing market always goes up and down any minute. If you could sell it quick when the price is up, at least 10% profit is secured in your pocket.

Needless to say, this is also part of the reasons of Chinese/Asians buying houses in California rather than buying a tiny flat in their home countries. Just imagine you pay much less money for a beautiful house with a great view and in a non-congested physical environment, what more you ask for?

Fortunately, income taxes are low in H.K. It’s kind of lowest in the world. People can handle mortgage with not too much pressure as long as economy of H.K. is doing well. The jump in the USD and the decline in oil are signs of economic weakness around the globe —particularly those in Western Europe. Our stock market is dropping lately, totally effected by the global environment. People start to worry especially those who bought houses not long ago. RMB is doing ok now, not crazily rising, not like how it had been before the Olympic. Mainland China will become our main supporter in the worst scenario. Everyone hopes that economy of China can remain stable same as the way it was before the Olympic.