Quote:
Originally Posted by Vrindavan
>> Where do you live???????
Hong Kong
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Kya Haaal? Then riddle me this........ Is there ANYWHERE in Hong Kong where property is affordable? Where a wealthy person (top 1%) would consider it worthwhile (& sensible) to purchase property in mainland Hong Kong (Sustha Makaan)?
The problem with Hong Kong can be summarized as follows:
(1) Very limited land space.
(2) Very low income taxes draw wealthy Chinese who pay cash down for property and don't even bother to negotiate on prices, pushing real estate prices ever higher.
(3) There is no dividends tax which means that a lot of residents who operate through company or have other dividend source income can effectively live a tax free life and that excess capital often flows into real estate.
(4) Low interest rates and QE will continue to blow bubbles all over the world.