This area has a lot of luxury real estate and flashy cars. Hong Kong real estate is the most expensive I've seen so far. I haven't really looked into London or NYC real estate but I assume it is comparable...I just know that in comparison to Toronto, Hong Kong is ridiculously expensive for the size you get. I started looking at homes in this area/Repulse Bay then at some others closer to the city.
**If you are not interested in real estate you can skip reading this part below**
There is one 2000 square foot condo here (2 bedrooms, 2 baths), selling for $78 million HKD which is about $13.50 million CDN. For that price in Toronto the house can probably make the list of top 20 most expensive houses in the city. A 4-bedroom Repulse Bay house is $41.20 million CDN. In Toronto, the most expensive house at the moment is only $29 million CDN & 10 bedrooms/24,000 square feet!!
So that is just a rough idea. For the condos in more central areas of the city, you can rent one that is tiny (for Toronto standards) at 260 square feet for $17,500 HKD a month which is about $3000 CDN a month. Here you can get more than double the size for about half the cost..or a little more than half the cost depending on location. & if you want to buy a decent sized apartment (say ~700 square feet), it would be literally millions (I am looking at one located in Wan Chai for example..$2.2 million CDN for 684 square feet). Also keep in mind that most of these places are really old and not nicely furnished inside. For that same cost in Toronto you can get a 3000+ square foot house in the suburbs.
I like real estate so I find it interesting to find out costs of places around the world. It made me realize how inexpensive Canada is in comparison. Someone I knew from London who lived here in Toronto for a couple years had said that Toronto real estate prices is like peanuts lol which I guess is quite true.
I love the open style restaurants
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For 78 m HKD you can get a huge mansion in Lux although real estate is also over the top there. The hotels I've stayed at in HK were tiny and in my opinion overpriced... but that's the way it is...
ReplyDeleteThere's just too little land space in HK and too many people!
DeleteThe real estate prices in Hong Kong are crazy, then again they are in London too! I'm in Florida at the moment and you can get a good house for so much less
ReplyDeleteI know Florida is a popular place for vacation homes! Hope you are having a great time!
DeleteI'm definitely coming here when I go back to Hong Kong!
ReplyDeleteYou should!
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