Hong Kong's money

Choosing between Hong Kong and Singapore poses a dilemma: chase the money in HK or cheaper living costs and more space in the Lion City.
Its very hard to compare the two world class city in Asia in term of wealth. But it seems that Singapore will only provide you the routine working life cos it is very small and it govern their big company. They feel they stay in the biggest human zoo in the world that why a lot and a lot of Singaporean try very hard to migrate to other country every year cos they don't want their kids to become the well educated pet.



Hong Kong is very very much a normal life city. Its more dangerous and more expensive place than Singapore. Most of people stay in Hong Kong stay in very very small house but they couldn't afford to leave their belove home. Hong Kong is their life.
Recruiters say that decision is often determined by the stage of life bankers are at. "We see bankers move to Singapore for lifestyle reasons," says Nicholas Hughes, manager of front office banking at Singapore's ConnectedGroup. "Even though pay is generally higher in Hong Kong, candidates approach us to see if there are options to move here. They range from Singaporeans wanting to move home to expats with young families worried about pollution in Hong Kong."

"Conversely, many younger bankers who are not concerned about smaller apartments and pollution actually prefer the hectic lifestyle Hong Kong offers," notes Andrew Price, director of banking at PSD Group in Singapore.

Price says even for bankers with families, it is not always easy to turn down Hong Kong. "From some recent placements it even seems the pay differential is widening in Hong Kong's favour. In one instance we saw a Singaporean candidate earning US$197k here offered US$400k for a similar job in Hong Kong. Some bankers will sacrifice the lifestyle for bigger money," states Price.
Thank you for the in depth informations regarding the life style of Singapore and Hong Kong. It seems like Singapore is for people who prefer relaxations and Hong Kong for the fast-paced individuals. Overall, both area will be new to me but I am contemplating more on Singapore now. Does anybody know about expenses wise, whether Hong kong or Singapore would be a better pick if money is short?
Despite this, enquiries are rising from candidates in Europe looking to move to Singapore.
Hong Kong is generally more attractive in Singapore. Hong Kong offers a better lifestyle then in Singapore, although the apartments are smaller and higher in price. Hong Kong offers a bigger and wider network as compared to Singapore. Singapore is too bureaucratic more conservative.
"We see this especially with bankers from London looking to move to Asia," says Hughes. "In addition, a lot of Swiss bankers are moving here as part of Singapore's wealth management boom. Tougher regulations in Switzerland are leading to money being shifted to Asia. We are seeing an influx of bankers as a result."

Hong Kong Property Prices Ahead of the Market

After continuing price increases over the past 4 years, the Hong Kong property market has now come to a point where most vendors do not want to sell unless they are making a huge profit.
The definition of huge profit is determined by making a comparison of previous transactions - if they can achieve a sale price of 20-25% more than the recent,This study analyzes the returns of publicly traded property companies using the style analysis approach. The results show that the proportion of direct real estate has increased over time. This suggests that indirect and direct real estate are becoming closer substitutes for each other. Furthermore, the findings indicate that the performance of most property companies is not significantly different from the performance of the underlying implied portfolio before transaction costs are taken into account. previous selling price, then, and only then, are most owners considering selling.
In other words, owners are asking $20M for a property that was recently sold for $15M in the same building with similar features (however, it is often the case that a property asking $15M will only be valued at $12M because the banks reference the last purchase price record and the market trend).
This unusual market situation is a result of a shortage of supply, low interest rates, and increasing numbers of expats buying properties in Hong Kong. There are also some new factors coming into play including anticipation of high inflation rates, an increasingly risky stock market, and a perception that the Hong Kong Dollar no longer represents the value of HK property because it is being dragged down in value by the US Dollar peg.
These factors pushed up property to an unbelievable level with the property market rising far more quickly than it would according to past rules and trends.
We have now come to a point where luxury property owners are very much aware of these factors and they are now asking inflated prices for their apartments. Transactions for luxury properties have slowed in the past month due to lack of reasonable sellers, particularly on Hong Kong island.
If you look at statistics, the Hong Kong island luxury market has gone up 29.6% in the year of 2007, while New Territories properties are up only 13.6%. I don’t rule out the possibility the New Territories will catch up, but remember real estate is about Location, Location and Location.
On the other hand, the market for non-luxury apartments (400 – 900s.f.) has just started. This property sector did not enjoy the same appreciation in the past few years and this flat-liner is now getting a strong heart-beat; I believe this trend could run for at least a year.
After 10 years in Canada, Patrick Yiu returned to Hong Kong in 1992 and has worked in the local property industry ever since. He has many years of experience as an agent handling the Mid-Levels, Pokfulam, South Side and Peak districts and as Centaline Property’s branch manager in Discovery Bay. Foreign buyers accounted for just 8.8% of sales during Q4 2009, according to research from Raimon Land. And although foreign demand has dropped slightly it’s an explosion in interest from Thai buyers that is driving the downtown Bangkok condominium market. Patrick has also worked with

go to hongkong

On first acquaintance Hong Kong can overwhelm. Navigate its teeming, tightly packed sidewalks and you’re met at every turn with neon signage, steam-filled canteens, molasses-slow traffic and a Babel of chatter.

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Once this first sensory wave has rolled over you, though, take a deep breath and start swimming with the current, because you’ll find Hong Kong is a place to delight in. Utterly safe and fantastically well organised, it offers little moments of perfection. You may find them on a plastic stool enjoying a bargain bowl of beef brisket soup or simply gazing at the thrilling harbour vistas. You’ll find them taking afternoon tea in the cool of a five-star hotel lobby or enjoying balmy open-air beers in the party zones.

Hong Kong can nudge you out of your comfort zone but usually rewards you for it, so try the stinky beancurd, sample the shredded jellyfish, brave the hordes at the city centre horseracing and join in the dawn tai chi. Escape the city limits and other experiences await – watching the sun rise from a remote mountain peak, hiking surf-beaten beaches or exploring deserted islands.
True to its name, this place is perched on the side of a steep hill rearing up behind Kimberley Rd. Just around the corner from a buzzing little area of bars and restaurants, it's far enough away from the hubbub to retain a calm sheltered atmosphere.

Lying at the southeastern tip of China, Hong Kong adjoins the province of Guangdong (Canton), and is just south of the tropic of Cancer. The total land area of Hong Kong is 1,078 square kilometers, comprising Hong Kong Island (77.5 square kilometers); Kowloon (45.5 square kilometer); and the New Territories, including 235 outlying islands (955 square kilometers).
Today Hong Kong has become a great international trading post, a powerful manufacturing base and one of the world's largest financial centres.

Taxis are numerous and readily available, and fares are low compared with those in most cities. Red taxis serve Hong Kong Island and Kowloon; green ones in the New Territories and blue taxis on Lantau Island operate at even lower rates. Many drivers speak some English but it is wise to have your destination written in Chinese characters.

Rates for red taxis start at HK$16.5 on the flag fall plus HK$1.60 for every 200 metres after the first two kilometres. Waiting time is HK$1.10 per minute. Pay, in Hong Kong dollars only, the fare shown on the meter, plus any additional charge where applicable. A HK$20 surcharge applies to cross-harbour tunnel trips (includes the driver's HK$10 return toll). There is also a surcharge for rides through the Lion Rock (HK$6), Junk Bay (HK$3) and Aberdeen (HK$5) tunnels, and a HK$5 charge for each piece of luggage.

Taxi drivers expect a tip, but just round up the fare to the nearest dollar. Drivers cannot pick up or drop off passengers on restricted streets, which are marked with yellow lines. New Territories taxis will pick up and drop off only in the New Territories. If you have any queries or complaints, note the taxi's number and call the 24-hour Police Hotline on 2527 7177.



To give yourself a break from looking at concrete and glass, try to get a room facing out from the back of the hotel over the park-like compound housing Hong Kong's observatory. The Stanford isn't as crammed with mod-cons as some of its Kowloon competitors, but there's a pleasant, slightly yesteryear feel to its hallways and rooms, evoked by dark wood fixtures and royal blue carpet. 'Standard' rooms are a decent size and it's debatable whether you need to pay extra for the slightly larger 'Superior' rooms. Excellent promotional packages sometimes see room rates nearly halved

If it’s pampering you’re after, money can buy the ultimate luxuries in a city well used to serving its tiny, moneyed elite. Yet Hong Kong is also a city of simple pleasures. Most often it’s the least pricey experiences – a $2 tram or ferry ride, a whiff of incense curling from temple rafters, savouring fishing-village sundowners and seafood – that are the stuff of priceless memories.
The Kowloon-Canton Railway (KCR) is 34 kilometres long and runs from Hung Hom in Kowloon up to the border with China. Trains run every tour to 10 minutes in each direction, and vary according to the ordinary single trip to Sheung Shui, the farthest you can go without a China visa). It's a go way to visit some of the New Territories' towns and villages.

The Mass Transit Railway (MTR), Hong Kong's fast, efficient and air-conditioned underground system, runs not only along the north side of Hong Kong Island, but also from Central across the harbour to divide into east and west branches in Kowloon. Stations are located by a X symbol. Fares range from HK$4 to HK$11. MTR and KCR stored-value tickets (HK$70-200) are also available.

The Light Rail Transit (LRT) is a high-speed surface system linking the New Territories towns of Tuen Mun Yuen Long. The LRT runs from 5.30am to 12.30am daily. Fares range from HK$3.20 to $4.70.

Ferries
The Star Ferry, which has connected Hong Kong and Kowloon since 1898, runs regularly between 6.30am to 11.30pm. At HK$ 2.20 (upper deck), it must be one of the cheapest and most scenic ferry rides in the world. The crossing takes approximately eight minutes.

The Hong Kong Ferry (Holdings) Company provides other regular and inexpensive services which connect Hong Kong Island to other parts of the Kowloon Peninsula and to the outlying islands.