Hong Kong is well know for the worldwide highest real estate prices. Buying just a small flat in a top location in a new building might cost You more than a million US dollars. However this might change and prices might go down.
Caseway Bay buildings in Hong Kong Island are one piece of really hot property to own. Great waterfront view included!
How can Hong Kons’s real estate prices drop
I guess You have recently followed the news. You already know that there has been a number of sudden bankruptcies in the finance world. Sounding names like Lehman are down the drain now. This will place thousands of bankers onto the street within days. And I’m not talking about a few hundreds, no, thousands. While these guys occupied some shiny fancy bling bling luxury flats they have to settle for less. Lehman t-shirts and mugs can suddenly be found on ebay.
So what happens? Here is my prediction: These guys either have to get a cheaper place or leave the town in search for a job. High end luxury homes will suddenly become cheaper. If You always dreamt of buying some nice 50-something floor apartment with private pool, this might be Your chance. Watch the Hong Kong real estate market closely and You might get lucky.
I dreamt to live in a high building for a long time, now it’s true. All the other condos are so small!
Property agencies in Hong Kong are countless. You can find them in almost any street and English speaking is available. If You want to use the online way You can check out this post: Find appartments, flats and real estate online.
The whole thing is a guess, but it might turn out true. Then properties, especially high end luxury homes, can be bought for a reasonable price. If You are not sure, just have a trip. Stay a week in Hong Kong and look around what is on offer. You also might consider to buy some luxury flats and then sell them later for a better price. Anything is possible in Hong Kong at the moment.