A 5,636 sq ft "semi-duplex" on West Mid-Levels is fetching for HKD 357.73 million? This is just crazy! Am I seeing another real estate bubble about to burst? Such luxury properties may not affect the average overall real estate pricing in Hong Kong (in my opinion) but it is an indication, benchmark or even an unjustifiable excuse for potential sellers or developers to raise their prices. It is no longer the question of affordability, it is whether this price level is justifiable in my humble opinion.
Although real estate is one of the most preferred methods for accumulation of wealth in a Chinese society, I am not sure it is the best or most practically way to do so in Hong Kong, at least for the general population. Then again, I am no expert in this area and Hong Kong has always been strong in supporting its own unique economy (and its property market) over the years. Who knows, now that the so-called real estate bubble (or balloon) in Hong Kong is Made in China, it is quite difficult to predict, maybe it will never burst?
Although real estate is one of the most preferred methods for accumulation of wealth in a Chinese society, I am not sure it is the best or most practically way to do so in Hong Kong, at least for the general population. Then again, I am no expert in this area and Hong Kong has always been strong in supporting its own unique economy (and its property market) over the years. Who knows, now that the so-called real estate bubble (or balloon) in Hong Kong is Made in China, it is quite difficult to predict, maybe it will never burst?
The Standard: http://www.thestandard.com.hk/news_detail.asp?pp_cat=30&art_id=89166&sid=25696230&con_type=1
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