Boat in HK good idea and where?
 

Now that the deal is back on the table a boat seems a good idea financially but where is good for getting to the airport and easy to live in. DB is convenient but lots of rumours about debentures and closing the marina. So Aberdeen? Sai Kung?

Can some of the DB marina residents shed light on the marina's future, please?

It's a great idea for lifestyle. However a lack of privacy and of course the usual HK money obsession means it comes with a whole load of caveats. To say nothing of the same uncertainty as the current CX deal is not laid out in stone for very long.
Sai Kung. By far most picturesque, however v hard now to get a berth in HEBE and RHKYC virtually unattainable. CWB marina beautiful. Sadly a closed shop thanks to Li Ka Shing and his cronies crowding out liveaboards.
DB. Some doubts as to debentures and the future of the whole marina. Frankly there's always been something in the air since the bloody place opened.
GOLD Coast. Most"stable" of the lot, not a bad location although access to town is difficult.
Aberdeen. V busy, boat traffic and people. Not much in the way of privacy. Access now easier with MTR.

Where does all your ****t go ?

Have less ****t. Very cathartic.

Rumor has it that the GC marina is the one that might get the landfill treatment...

Risky option in any case. HK developers would rather fill out all the marinas and build towers and shopping malls instead... more profits.

The day they evict you from the marina, they'll give you the debenture's face value, which is about 5 times less than what you paid for it, and your boat becomes instantly worthless without a mooring.

Tread carefully.

Globocnik,

How is the current deal not set in stone? After the RP debacle, I thought the HKAOA had learnt its lesson and moved away from short term BS deals.

Holding tanks are now compulsory.

It expires when arapa is up for review. As I understand it. So far from set in stone

Considering the above comment: ...so, no different than an ARAPA pilot considering purchasing an apartment?

Info ref Gold Coast only:
-debenture face value is the same as what you initially paid ie no mark up built into the boat price unlike others.
-airport to Tuen Mun tunnel opens Dec 2017 earliest / more likely 1st quarter 2018. Should drop travel times to work to around 15 mins.
-Strong rumours of MTR extending thru Tsing Yi with station at Sam Shing (1 km away) so continuous MTR line thru to Central.
-Sino group pouring money into marina and looking to expand more berths.

Would be helpful if some of you "experts" knew what you were talking about before punching the keyboard.

One of the guys from the marina once told me, there are only 2 happy days of boat ownership. The day you buy it, and the day you sell it...

Rice. It is a rumour network. Tonto

Huge shortage of marina space. No way the government will approve the rezoning of any marina for other purposes.
Old wives tales about this is nonsense.

The so called lack of privacy on a boat is nonsense too. Boats dont share walls like apartments so you never have to listen to your neighbors. And if you don't want to see them close your curtains. Like everywhere else.
Marinas are great social communities. Which is a lot more than you can say for the average hkg building where you don't even know who lives next to you.
It's also dead quiet. I never have to listen to jackhammers and traffic.

Best quality of life you'll ever have in hkg.

Only downside is costs. Which will slowly keep going up due the relative increasing value of all berths due shortages.

I used to stay on a CX mates boat in Sai Kung / Hebe Haven?? Not bad at all...but it was long ago...

No scraping of furniture/kids toys across the floor above you, no jackhammering in the walls. No sound of old mate above you taking a 3am leak. No putrid cabbage smells permeating through from your neighbour's cooking. You get the idea.

I cannot stand the stench of steaks sizzling on the neighbour's bbq, that is until he invites me over then it's all good.
In truth, I will never live in an apartment again.

To recap. Basically it's a fantastic lifestyle. But there are ' perceived' risks. Which has never actually materialized in all these years but maybe one day could lead to some issues and or some value loss.

It's not as good financially as buying a concrete box but it's better than renting because at least some of your $$$ goes into an asset you can sell on. That being said buying a concrete box in the current market has some value risk attached as well..

Once you accept that - harden up and make the move - you'll never look back. Nobody ever leaves a marina cause they don't like it...

This "Hong Kong" special has ended.
DB Marina: 80% of boats on the market. Prices in free fall.
Gold Coast marina not allowing sales with debenture and berth. Prices in free fall.
Big business run Hong Kong and to rezone build apartments which pay stamp duty and rates to the government, boats do not. Of course this will happen. It's all about $$$

I would recommend renting a boat for a few weeks if possible first. I too though living in a marina would be the ideal Hong Kong lifestyle until I spent a few weeks on board a friends. Whilst some of it was indeed fun, I personally found there were many negatives, in particular ongoing costs.. and don't forget the Fly's,Float's, F... s expression. All very true from my experience!