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Hong Kong Real Estate: Adjustment Begins
As this photo taken tonight shows, Hong Kong real estate has started to plunge. One caveat before drawing conclusions: Hong Kong real estate is a peculiar market due to the territory’s low taxes, large involvement of the government and fixed exchange rate to the US dollar.
A couple jokes doing the rounds:
Q: Why have estate agents stopped looking out the window in the morning?
A: Because otherwise they’d have nothing to do in the afternoon.
Q: What is the capital of Iceland?
A: About $3.49.
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I guess that I’m not surprised that the Real Estate is taking a hit in Hong Kong.
Heard Shenzhen is also way down. but still sounds very expensive. Still more to drop you think? Be interested in when you think there is a buying opportunity…probably not for a while.