Posted by
seb-in-hk
17 yrs 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.
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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.
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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.
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