One comment on “Hong Kong’s unaffordable housing

  1. Wow, were you born in HKG?? It is absolutely true the housing market is in a major boom (some would say a second bubble). When I arrived there in 2008, our apartment was HKD 10,000 a month (about US $1200). By the time we left, it was renting for HKD 15,000 a month! That is almost a US $800 increase in rent. And the apartments are so small. I can’t imagine people trying to raise a family there.

    Also, we lived in Tung Chung, on Lantau Island, which is where the airport is. It is a major arrival point for new money mainlanders who come in and buy apartments for fun, for speculation, for investment. In the space of one year, the number of mainlanders in Tung Chung increased noticeably and dramatically. Instead of heading Cantonese, you predominantly heard Mandarin. It was an incredible change is a short period of time. At tourist attractions, announcements used to be made in Cantonese, English, then Mandarin. By the time we left Hong Kong, they were made in Cantonese, Mandarin, and then English. No wonder the BBC recently made a huge documentary called THE CHINESE ARE COMING!!!!

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