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So, What's Hong Kong Got that we Don't?
August 14, 2014

In January of 2014 the Demographia International Housing Affordability Survey named Hong Kong the least affordable city in the world. However, there were several predictions earlier this yearstating that the home prices in Hong Kong were destined to fall. One of the common predictions was that a 10% to 15% decline in the residential home prices in Hong Kong was anticipated due tohigher interest rates and an increase in the market supply. Prices have dropped, but not by the margin that was expected. Analysts are now revising their predictions to show around a 5% decrease.CENTALINE, a local brokerage, is even reporting a 4.4% gain in home prices since the beginning of June!

So, why is Hong Kong so expensive? What do they have that we don't?

1. Hong Kong has a whole lot of people and not very much land, so buildings tend to shoot upward instead of outward. To date, Hong Kong has 1,251 skyscrapers and high-rises, taking the title forthe most in the entire world! This provides extreme scenic views of the twinkling lights of the city or the million dollar views of the harbor. To house over 7 million residents, Hong Kong hastiny living spaces. Climbing into bed from the doorway is common in Hong Kong, as the average home measures in at around 450 square feet!

2. Getting where you need to go is easy in Hong Kong. As a matter of fact, this city is one of the least car-dependent cities in the world, registering only around 710 thousand vehicles. Trams,taxis, subways and water transport take the lead in public transportation. The trams may not be a fast ride, but it's cheap and sitting up at the front on the top of the double-Decker is quite anexperience! The taxis come in three colors, separated by zones, and are very easy to get, unless it's raining and the subways are very wide, clean and well lit. With all the traffic jams, tollsand parking fees any one of these options seem to be better than the alternative of driving your own vehicle.

3. The closest English translation to the Cantonese pronunciation of "Hong Kong" is "fragrant harbor" and being a harbor city, the water transport is everywhere! The Star Ferry operates betweenHong Kong Island and Kowloon it provides great views and is very reasonably priced. Weekdays are the best time to enjoy this watery trip as the weekends can get pretty crowded. And with theOctopus Card you can pay for your transportation and lunch all in one go!

4. Believe it or not, for such a largely populated area, Hong Kong is one of the safest cities in the world. Violent crimes happen so infrequently that they make headlines for days when onehappens. The police force is very helpful, polite and omnipresent! It is not uncommon for the police to show up at a local bar, bus stop or retail store and ask for ID's. Most buildings,residential and commercial, have a guard present at the door ready and willing to help in way that they can. As a whole, the people of Hong Kong embrace a pro-social society that is hostile tocrime and corruption.

5. Ahh the food! Hong Kong sports approximately 15,000 restaurants to their 7 million people! From three Michelin star restaurants to street side food stalls, the cuisine has an East meets Weststyle that can't be beat! Pineapple Buns, Fish Balls, Chicken Feet, Roasted Goose and Egg tarts fill the streets with an aroma that you just can't find anywhere else.

So what does Hong Kong have that we don't have? Tiny houses, extremely low crime rates and a host of many ways to get to the restaurant for a dinner laced with chicken feet and fish balls...

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