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Originally Posted by wtbhotia  i live in Mang Kung Uk village, some village house near me for the whole building have been sold for 4-5 Million, its such a great price. My only problem is that I heard that even if you buy the whole house, the land is only rented to you for 50 years, someting like that, after 50 years then you need to re-rent it. Have i been hearing BS or is there some rule like this. anyone heard of this as well. |
Its just the way Hong Kong has always been, Hong Kong Government owns all land in Hong Kong. You are "leasing" it off of them.
4-5 million for a new place or what? Sea View? I guess that price for Clear Water Bay is ok. Depending on age and how nice it is.