It have been awhile since I last posted on this blog. I was on a two-weeks long vacation to Hong Kong and Taiwan. It was a fun trip. The food is good, people are friendly however the weather is hot.
I happened to walk by a few real estate companies on the street while on vacation. I spent some times to understand the current real estate market in these countries.
The housing market is starting to cool down a bit but you will be surprise to see the house price to salary ratio in these two countries are so much higher than in US. A single family home is worth way over a million USD in these countries and the normal working class is only able to afford a unit in a apartment complex. Even for a good apartment unit at the prime location in Taipei is worth close to a million USD too.
The price per square feet in Hong Kong is even higher compared to Taipei and US.
I am wondering how can these markets sustain these high housing price. Does that mean there is still room for US housing market to go higher? Time will tell.
Friday, August 8, 2008
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