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.
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.
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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