Luxury estate in Hong Kong is so high

Presently, Estate price in Hong Kong is so high, estate market here is as expensive as New York,
London. While the small area apartments have suitable price.

Wall Street Journal newspaper wrote, compared with local's income, estate price in Hongkong
was 17 times higher. While this figure in New York is 6,1 and Vancouver is 10,6.

Typically is 3 houses on high-class project Twelve Peaks were sold with 14,547 USD/square foot,
passed penthouse house at Park Avenue (10.490 USD/square foot), one of the expensive project in New York.

In front of this happening, Hongkong goevernment issued market regulatory policy, cite as regulation
that foreign customers must pay land tax (stamp duty) when buying luxury estate. However, it seems not
to effect much on rich buyers.

Prime Global Cities Index report of Knight Frank shown that, luxury estate price in Hongkong rose 5,5%
compared with the same quater last year up to quater I/2015. Exchange is mostly from Chinese buyers.



While high-class apartment type in city is more and more expensive, miniature-sized apartments are also
brought into market to meet the customers need with limited fund. This this apartment type, house owner
will be limited to buy the indoor furniture, apartment is 516.000 USD with 160 m2.