David Cameron did it! by god he did it. He stuck it to the frolicking frogs, and the domineering Germans. He turned his buttocks to the EU, and told the slackers in Greece to get a job. Here's to good ol' blighty and all that... Now what?
Well, one might suggest that now is time for statistics; and as far as statistics go, London is home to - apart from the worst Metro system in the world- 33% of the European HQs of the worlld's largest companies, and to the operation centres of 65% of Fortune's Global 500 companies. More than half of Britain's trade is with the EU, and in particular 60% of Britain's exports are EU exports. Now of course, Cameron's performance last week may not spark a wave of companies exiting London, but depending on how far the island of Britain will drift as a result of David's stance, political reasons may drive Britain's future with European companies. Then, David Cameron may feel the hand of history approaching him from an entirely different angle
Monday, December 12, 2011
Wednesday, July 20, 2011
Property "Atmosphere" and the Morning Post
I've been trying to sell my flat in Kennedy town for a few months as I've been promised by my realtor that I'll make a killing at the current valuations. True as that may ring, it hasn't worked out so well, thus far, and I am still not rich.
I did at some point find a buyer willing to pay a good price for the flat, but after he made me fly back to hong kong for signing the agreement he suddenly vanished into thin air on the day, never to be heard of again. The good ole' hong kong ethics and dignity I suppose. I haven't since been able to sell it to someone else although hordes of people have come to see the flat. My realtor says "it's the atmosphere. There is uncertainty".
In trying to understand who is responsible for the "atmosphere" I stumbled upon a string of outrageous articles from the past 2 weeks in the South China Morning Post and here they are; Although, I trust their titles are sufficient for the diligent reader, I've marked them "buy" or "don't buy" as per their content and intended advise to the Hong Kong investor/Property buyer:
1. Investors in a ruch to sell - 7 July ---Don't Buy
2. Race to rent as buyers retreat - 13 July--- Don't buy
2. Investors steering clear of Property - 19 July ---Don't buy
3. Rise in Home Sales Continues - 20 July ---Buy
If you go back a month or more the same pattern continues. So after a month of gloom, by the way not reflected in any of the official banks' valuations which have remained steady, the SCMP tells us, not that there is a rise in home sales, but that it continues; in total contrast with what they've been reporting. Most of the articles do not contain hard numbers but opinions of property brokers. WTF, one might think.
I've also now rented my flat out to tenants terrified by the Post's doomsday warnings, and almost as soon as I did that a very determined buyer showed up...
That's it. I am cancelling my subscription.
I did at some point find a buyer willing to pay a good price for the flat, but after he made me fly back to hong kong for signing the agreement he suddenly vanished into thin air on the day, never to be heard of again. The good ole' hong kong ethics and dignity I suppose. I haven't since been able to sell it to someone else although hordes of people have come to see the flat. My realtor says "it's the atmosphere. There is uncertainty".
In trying to understand who is responsible for the "atmosphere" I stumbled upon a string of outrageous articles from the past 2 weeks in the South China Morning Post and here they are; Although, I trust their titles are sufficient for the diligent reader, I've marked them "buy" or "don't buy" as per their content and intended advise to the Hong Kong investor/Property buyer:
1. Investors in a ruch to sell - 7 July ---Don't Buy
2. Race to rent as buyers retreat - 13 July--- Don't buy
2. Investors steering clear of Property - 19 July ---Don't buy
3. Rise in Home Sales Continues - 20 July ---Buy
If you go back a month or more the same pattern continues. So after a month of gloom, by the way not reflected in any of the official banks' valuations which have remained steady, the SCMP tells us, not that there is a rise in home sales, but that it continues; in total contrast with what they've been reporting. Most of the articles do not contain hard numbers but opinions of property brokers. WTF, one might think.
I've also now rented my flat out to tenants terrified by the Post's doomsday warnings, and almost as soon as I did that a very determined buyer showed up...
That's it. I am cancelling my subscription.
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