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Old 15th Mar 2008, 03:45
  #25 (permalink)  
missingblade
 
Join Date: Sep 2007
Location: Hotel
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If you really feel the itch to buy now I would do the following:

1.Buy a cheap small spot for 2.5 mill - something like a single floor of 700 ft with a bit of garden in a village house in Sai Kung. Yes you going to be cramped - but its do-able.
2.Fix your allowance at the currently quite high 63 000 $ - this will be for two years no matter what happens when the company negotiates/imposes a new housing deal in Sept.
3. After 2 years you have paid of about half - and if the market is down you should still not be in negative equity. If its stable or up - you win.
4. Sell it if the value is there or rent it out if the value is down at that stage.

So in two years you can at the very least end up with something that is rentable and the rental should cover the mortgage payments from that point on. Or you could end up with some cash in the bank!
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