Archived posting to the Leica Users Group, 2015/03/01

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Subject: [Leica] Hong Kong pictures
From: jayanand at (Jayanand Govindaraj)
Date: Sun, 1 Mar 2015 16:05:48 +0530
References: <> <>

I think your daughter is lucky - in any housing cycle, for 99% of the time,
it is economically prudent to rent rather than buy - for example, doubling
your money in 10 years means an annual compounded yield of 7.2%. It really
makes sense to buy ONLY after a massive crash, the general problem there is
that is when generally buyers are quaking in their boots, as are bankers,
making credit hard to come by - if you have your own capital it is
generally a slam dunk! If you do your sums, you might find that if you had
rented an apartment for the last 10 years, and invested the capital in a
basket of international assets, you might have been better off. By the way,
real estate prices for flats/condos in Chennai are up 4/5 times in the same
period, and the appreciation for land has been even higher.

On Sun, Mar 1, 2015 at 5:43 AM, H&ECummer <cummer at> wrote:

> 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>
> To: Leica Users Group <lug at>
> 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 :-)
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In reply to: Message from cummer at (H&ECummer) ([Leica] Hong Kong pictures)