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Hong Kong

Hong Kong Real Estate: Adjustment Begins

By thomascrampton ⋅ November 26, 2008 ⋅ Post a comment

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.

Popularity: 10% [?]

Hong Kong

Discussion

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Comments for “Hong Kong Real Estate: Adjustment Begins”

  • The real estate will hit every nation especially the asian market.
  • 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.
  • I guess that I'm not surprised that the Real Estate is taking a hit in Hong Kong.
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Thomas Crampton was a correspondent for the International Herald Tribune and The New York Times for more than a decade, reporting from five continents, writing a column on Asia and covering Asian politics, economics and culture. Currently based in Hong Kong, he writes here about China, the Internet and New Media seen from Asia, while also advising companies on digital communication strategies. For more information click here...