HK become too expensive

Posted by yuhana (220 days ago)

is it me or all are feeling hk is become suddenly very expensive? the rents have sky rocketed in the past 2 months and there seems nothing that it will slow down, when will this bloodbath stop!!!!!! , can't the govt intervern in this? as they seem to have thier opinions on very topic n hk , whether plastic bags or windows falling down....

Find what you are after in our Hong Kong A-Z Directory

Posted by Saikunga (220 days ago)

high rent is good as far as the government is concerned!

Posted by walkup (220 days ago)

Absolutely no chance re govt intervention. zilch. nada. 0. If you are on a budget, then you may need to relocate to a cheaper area or a lesser quality apartment or just look around some more...or er save your spirit to make more money!

Posted by Patrick Yiu (218 days ago)

Very large part of revenue is come from land sales, HKSAR is happy to see the price goes up! Consider the income tax is low, you're paying indirect taxes through rental.

As long as there are new expats coming to HK to support the rental market, don't see any reason it will go down.

Try speak to your HR about the siutation, many people get a raise on housing allowances these days. They will give you a better package as long as the company is making profit.

Posted by seb-in-hk (215 days ago)

Actually the rents in many areas have not increased that much recently. The true skyrocketing only happens in a few hot areas like the midlevels/pfl/klt/island south/etc, so if cost is an issue then moving away from those locations can solve the problem easily.

But renting is really not a good deal these days. Repaying a mortgage is much better, because within this year the local banks have reduced their interest rates four times already.

Posted by kneworld (215 days ago)

Prices for the most part in most areas still have yet to reach those highs of "97", and it seems they will be surpassed. The late 80's also saw a hot potato property market. Banks and companies giving housing allowances are not keeping up with the pace of current increased rents (and sales). There may be more of a movement to the Northern New Territories, and more older and worn place in Kowloon search of cheaper rents. The race is on.

Posted by snoopy88 (211 days ago)

In the mist of my search, i have decided that if the rentals are beyond reach (i do not wished to top-up than the allowance), I will move to Shenzhen.

But i managed to find something reasonable in Tsuen Wan area....a bit of walking and dog barks in return for the lower rentals.