Posted by
Dad2B
17 yrs ago
Hi,
I brought a 716 sq ft flat for HKD1.90 mill in March, havent checked the current value thought, but i read an article today in SCMP talking about serious decline in the property market come 2009. The economist was hinting at an increase in interest rate by 5% by US Federal Reserve in the second half of 09. Just want to have an idea is it worthwhile to keep the property or shall i take the economists advice and sell it by the end of the year.
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Ed
17 yrs ago
FYI - the article you mention has been posted on another thread: http://hongkong.asiaxpat.com/forums/living-in-or-moving-to-hong-kong/threads/118384/are-you-leaving-hk-due-to-high-rents?/
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Dad2B
17 yrs ago
Well i am using the flat for residence !
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I dont think your apartment will be affected too much if there is a market correction.
Prices have risen out in Tung Chung about 20% over the last 12-15 months. It sounds like you got your apartment for a good price. If you are living in it, I would just stay put, you still need somewhere to live. So better of paying off your own place, rather than putting money in someone elses pocket... I dont think the value of your property will go down much from what it already is...
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