Thursday, December 01, 2011

Apartment Selling - Hong Kong Style

We were puzzled by a full page advertisement for an apartment complex in the newspapers.  It was said to be a landmark in the central axis, presumably of Hong Kong.  But tried as we did, we could not find out from the advertisement where the apartments were located. 

It did mention a location in Central, which indeed can be considered a really central location.  But it was merely the place where one could view a model.   It turned out the apartments were actually in Tseung Kwan O.  Tseung Kwan O was where Hong Kong dumped its garbage in landfills.  So it is now in the central axis of Hong Kong?   If it is such as desirable location, why did they try so hard to hide it? 

These were also said to be “luxury” apartments.   A two bedroom “luxury” apartment?  At a closer look, the usable floor area of some of those apartments was only 536 square feet.   It was only 77% of the so called “construction” area, another uniquely Hong Kong concept - which includes the lift lobbies, club houses, roof tops, etc.

Judging from the floor plans, it would be difficult to fit a wardrobe and a large bed into the bedrooms.  How can such a small apartment be considered luxurious?  It is getting ridiculous here.

Perhaps the one thing that could truly be considered luxurious was the price.  It has been rumoured that some of those 2-bedroom apartments were selling at ~HK$ 7,000 per square foot; and one larger apartment has been sold at the absurdly high price of HK$ 21,000 per square foot.  That is double the monthly salary of some of our fresh graduates from local universities. 

This is truly uniquely Hong-Kong-style apartment selling. 


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