In the most expensive place in the world to live, Hong Kong, a 1 bedroom apartment at 9 Welfare Road, is up for sale at almost 3 million dollars. Irony aside, it is interesting to note that over 45% of Hong Kong residents are in subsidized public housing.
Hong Kong property prices are coming down. They are tackling it the right way - by bringing in more supplies. The government has been aggressive in selling land to builders. Imagine that! And it didn’t take long for market to adjust prices.
In Singapore 85% stay in owner occupied government subsidized HDB.
You seem to know a lot about that area. I was thinking about buying in Malaysia to have a retirement home where the inlaws are, but it seems like the political climate there with the controlling Muslims and constant stories of corruption makes me say nay. Will Malaysia ever evolve into what could be a totally awesome country?
I’d say no. The racial tension is palpable. Too bad Penang didn’t fight for independence. As a result it’s still a sleepy outpost. If you want to see what Singapore looked like 50 years ago, visit Penang. It has made very little progress compared to SG.
One would think an uprising against the corrupt government would happen sooner or later…
In Malaysia, RE rules can be changed retroactively to your disadvantage. Doing business and staying there, need to account for bribery into the equation. Thailand and Indonesia have better control, just pay the top guys, they would distribute the money according to some formula, no need to bribe others. In Malaysia, you need to keep bribing top to bottom, and then again after they change appointment.
This is unfreakingbelievable. The greasing of palms does not end…
Happens in America too … especially for politicians.
Try Iskandar area in Johore to get into malaysian real estate. There are a couple of world class international schools built there and once the high speed rail from singapore gets there, more folks would flock there for a better quality of life and commute to singapore.
There is also currency risks to manage. Malaysian ringgit has plummeted against US dollar in the last year or two. If you want to buy Malaysian RE now may be a good time.
Will we see 5 ringgit? It seems on the way up again…
Thanks for the tip, valhalla. I will look into it.
Frankly though, I am not too enthused on investing in a country that is Muslim ruled and has so much corruption.
The bigger the wealth gap, the better! Who wants to go back to the dark days of the 60s where everyone got paid the same but everyone was dirt poor. Wealth gap is a blessing not a tragedy… we need ever wider wealth gaps!
But you are forgetting one big thing, HK is China’s toy whether you want to believe or not. The line is not gray or fine, it is a solid, thick line. You don’t ever have true peace of mind that you can just do like we do in the West. Why else is money still flying out of there to here and Canada then?
That is true but that’s a whole different animal. I was talking about the wealth gap here…
Which country’s 60s was dark and same pay?
You didn’t followed the thread? We’re only talking about one country here none other than China.
Well, Maylasia, Singapore, and maybe others mentioned as well
And lovely Canada is starting to woo us too…