The view to Hong Kong Island. The most expensive Real Estate on earth!

Sorry. I goofed in the video when I said condos here cost $18,000 - $30,000 per square foot. I meant to say per meter. That's still up to $3 million for a 1000 square foot condo. But, you can pay even more. I visited a condo with an asking price of $15 million. It was quite nice...and big at 3,700 square feet...but it certainly didn't blow me away. The Chinese just keep coming from the mainland with seemingly limitless cash. You see it everywhere...in the fleet of Rolls-Royces outside the Shangri-La...the packed Chanel boutiques.

The market was rising at so hot a pace that the government here introduced a capital gains tax of up to 15% (it's staggered) if you flip within two years. Hold for longer than two years and its business as usual in Hong Kong: No capital gains tax. You will pay stamp duty when you buy of 3.75%-4.25%. It's amazing to see a real estate boom like this in a place where most buyers are cash buyers and no one can borrow more than 50% loan to value.

Like all fast rising markets there's a sense of panic to buy now. We know where that got us in the U.S. and parts of Europe. Will it pop here? Of course...but who knows when. I wouldn't be holding my breath.

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• Ronan McMahon
• Pathfinder
• Real Estate Trend Alert
• Hong Kong
• Condos
• Kowloon

[simonchengyin]

why the hong kong peak island become the second  most expensive place on planet is because is part of Great Britain , the first expensive is south-east part of Hong Kong island ,big wave bay road , only less than twenty classical British countryside style hosing in there! however , it is the most easier place to find communist membership (communist in china meaning richest class ~_~!

[simonchengyin]

in compare the British Victoria hong kong to freedom america , the food price(prix) , is much priceless is more cheaper to United state , the Chinese mainland is NOT a normal citizen, only the richest class of red communist Chinese Governor could allow to come , and they are not interest to learn local BHK language and writing scripts, which make the origin HK traditional citizen very unhappy!

[simonchengyin]

I am the british hong kong (BHK) born three stars AZ citizen

the Hong Kong island (central) house price swiss french language (prix) is like a big casino , central is the only foreign land, the poorest place in BHK is North-West part of BHK,