Archived posting to the Leica Users Group, 2015/02/28

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Subject: [Leica] Hong Kong pictures
From: john at mcmaster.co.nz (John McMaster)
Date: Sun, 1 Mar 2015 04:35:42 +0000
References: <mailman.4671.1425152135.1819.lug@leica-users.org> <CC4B21FF-A18B-4CC4-8A5E-7445C5444A0E@netvigator.com>

Similar to NZ, particularly Auckland :-(

john

-----Original Message-----
From: H&ECummer

Hi Richard,
Yes indeed Vancouver has the most expensive real estate on the planet 
followed by Hong Kong, according to a recent international survey.
And, as you note, the common factor in this pricing is Mainland money. Once 
it gets into a Hong Kong bank - don't ask how it gets from China to Hong 
Kong - then it is an easy transfer to Canada to buy property which is now 
20% cheaper than last year due to the fall in the C$. Canada has no 
restrictions on foreign ownership - unlike Hong Kong which charges a 15% 
transfer tax to buyers who are not permanent residents of the SAR (Special 
Administrative Region). The result is fewer and fewer Vancouver residents 
can afford to buy houses - given that their incomes have not kept pace with 
the rise in housing prices. My apartment in Vancouver, for example, has 
doubled in price since I bought it in 2005. So those of us already in the 
market are not hurting - but others, like my daughter, face the prospect of 
being out of the market for a long time - if not forever.
Howard

Date: Fri, 27 Feb 2015 19:35:04 -0800
From: Richard Man <richard at richardmanphoto.com>
To: Leica Users Group <lug at leica-users.org>
Subject: Re: [Leica] Hong Kong pictures

According to one study, Vancouver is the MOST expensive city, even topping 
HK, Tokyo, New York etc. The Mainlanders are moving their money out before 
their government can take it away :-)


Replies: Reply from Frank.Dernie at btinternet.com (Frank Dernie) ([Leica] Hong Kong pictures)
In reply to: Message from cummer at netvigator.com (H&ECummer) ([Leica] Hong Kong pictures)