Hong Kong, according to the 2009 census has a population of somewhat more than 7 million individuals living in an area of 1,104 kilometer squared, making it one of the most densely populated urban areas on the planet. With around 6,364 individuals living in a square Kilometer, it is appropriate of the local saying: One inch gold for a square foot of land. Today the 28th October 2010, the Hong Kong property market has reached a breaking point, floated by many factors including low loan fees, positive market sentiment and the guaranteed winner, Mainland Liquidity.
Costs of Luxury properties in Hong Kong are currently way above the historical 1997 Bubble, some say by over 15%, with the mass market following not far behind its strides rent house hong kong. Fundamentally the economics of today are substantially more sustainable compared to the time during 97 property bubble, today, statistics propose that the average extent of household income for mortgage payments are still underneath half (for the present) and gearing ratio’s are at conservative levels, thanks to the exercises well learnt back then.
On the off chance that there is no startling emergency or a sharp momentary increase in loan costs, costs appear to be sustainable, presently imagine it is 2047, Although the City has been handed over to China in 1997, the Chinese Government has given a kind of grace time of 50 years to eventually assimilate with the Mainland and stuck the current one Country two System type of overseeing. China currently with 1.3 billion individuals, what will that number be in 37 years time? And what will happen if affluent Chinese from the mainland were to easily have the option to live in Hong Kong?
Even however the costs for a standard 2 room apartment in Hong Kong Island appear to be unjustifiable, making Hong Kong the third most expensive urban communities to live in, there is just 37 years for that exceptionally unpredictable change the city will inevitably experience to buy property hong kong.
There is little what cash cannot do, and if affluent Mainlanders wish to settle in Hong Kong, there will always be a way, even today with so much formality holding the Renminbi inside its outskirts, in the last year around 30% of all Luxury Property transactions in the city are purchased by Mainlanders. We cannot anticipate how Beijing, Shanghai and other Tier One Cities in China will resemble in the following three and a half decades, yet we realize that the city will always be popular given a decision.