Wednesday, September 22, 2010

Young couples priced out of home market

Young couples priced out of home market

Malaysian, you should feel lucky after reading this....

HONG KONG: Low-income families are being left behind in the battle to buy their own homes as soaring house prices push the cost of public and subsidised flats beyond their reach.

The story of Ann Kan, a young clerk who hoped to buy a flat with her fiance, is typical."We are getting married in November and still do not have a flat to move into, although we began trying to buy something half a year ago," she said.

The couple had hoped to buy a flat in a private housing estate with a budget of HK$300,000 (RM119,434.06) as a down payment, she said. (In Malaysia, 100k as downpayment can buy Semi-D or Luxury Condo liao....)

A 778 square foot flat in Yiu Chung House in the Yiu On Estate in Sha Tin was sold for HK$2.07 million on the open market this month, a record for a public housing flat (778 sft Public housing flat also cost RM1 million, this can buy studio at KLCC !!). The vendor bought the flat for HK$1.8 million in February. (Within few monthly price increase 10%+, did salry increase that fast too???)

"Second-hand HOS or public housing flats are now also too expensive. We could not afford to have a baby if we bought a flat, and we would rather have a baby." (Here you can have both baby and house ...)

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