This may be so but there are lots of people paying off 15 year or longer mortgages. If you had purchased your property 10 or 15 years ago, you've made most of the payments and during that time the property value has risen by about 50-100%. Thus, if you paid for your HK$5m property then and put down a 20% deposit, ie HK$1m, your HK$4m is mostly paid up now and the property is worth like $8-10m. This does not include the other assets you've acquired during the period and the HS Index which was at a low of 8000 points only a few years ago and down at 3,600 points in 1998 and now just over 20,000 points. Lots of opportunities in the past decade to make millions in HK but unfortunately those days are now behind us/
Yep, US$1m is nothing these days and will not get you very far in HK. Loose change for buying a super car or super model.
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Last edited by geoduck at 22-6-2010 09:29 ]