Posted by
fel
16 yrs ago
I know this question has been discussed b4. But now i m caught in this situation again. Look like we going to continue stay in hk for long term, does it make sense for us to invest in our own property rather than renting? If buy, has the property market reached the bottom or buyer can still wait for price to fall lower later this year?
We have not activately started searching for apartment but wondering if we should re-negotiate our rent lower & tie ourselves to another 1 yr rental agreement? Or should we start hunting for property & forget about renting? If buying, we will most likely be looking at HK island only.
appreciate any advise! thanks
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Ed
16 yrs ago
I'd suggest you read this before you decide to buy....
http://www.bloomberg.com/apps/news?pid=20601080&sid=asoZu0ThVUtc&refer=asia
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fel
16 yrs ago
yes, it does make sense to wait & not rush into buying given tat economy are so bad now, & many things are uncertain now.will definitely do my homework b4 making any decision.
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Sack you definitely fit squarely into the Roubini gang. I am less bearish overall for a few reasons but I do see further pain.
We are lucky to have paid less than market for the flat we are leasing now, and that is up in October. We really want to buy a place vs. rent as our family has grown, and are hoping for a clear direction by late summer.
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fel
16 yrs ago
Ted, look like we in same situation. just tat our 1 yr lease is up since last dec & we r paying slightly above market rate now. so is btw buying or looking at another rental agreement before buying.
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Hey fel. FWIW we took the plunge on a place we were looking at which has come down about 15% since we started and over 20% since the highs. It is somewhat unique so we took a shot.
On the other hand I am terrified... so please pray for me. Good luck in your search!
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