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PeteHK

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About PeteHK

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    HPC Newbie

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    Hong Kong
  1. I have no doubt that they're a hoot to drive, but don't their engines come from Honda?
  2. "To duck this problem GB transfers to his wife. Note - stamp duty has to be paid on the transfer value even when no money passes, so Mrs GB has a stamp duty bill. However this is far less than the GB capital gain tax bill. If Mrs GB sells the day after from buying from GB, and she sells at £200k - hey presto she has made no gain, because she bought at £200k and sold at £200k. " You've lost me there. He transfers the property (gift) to his wife, but then you say she bought at 200K, so is not liable for CGT. Could you explain? Thanks.
  3. Yes, but who knows how many owners of 3-bed suburban semis have MEWed to finance these BTLs? Domino effect?
  4. Agreed, I guess some may be put off by exit (CGT, EA fees) and re-entry (Stamp duty) fees ...
  5. RB, Wondering what you mean by 'final warning' in your title and the consequences of ignoring it? Why not just say 'EC warns Brown about excessive borrowing' in the title. The best the EC can manage is to tell GB to go stand in the corner wearning a large pointed hat with 'A' on it, even if they had an powers of sanction.
  6. Been living and working in Hong Kong for 10 years now (have permanent residence). Sold property in the UK in 2001, and bought in HK in 2004. 15% income tax and no council tax! One-pound-fifty and five minutes to get to work by taxi every day in the heart of the city. No plans to ever return to the UK again - even for a holiday.
  7. If CBs lower or maintain current interest-rate levels, homeowners will have their debt eroded by inflation. If they raise them and remove liquidity, there will be a redistribution of wealth, with those who purchased near the top of the cycle suffering for their lack of prudence - Darwinism in action and healthy for the overal economy, in my opinion. How CBs are 'judged' will depend on your perspective - if you are a homeowner or not. In the first scenario, if the borrower can maintain the repayments, he/she will judge the CBs actions as favourable. If not, the blame game starts and the borrower is fooked. I would imagine that those here who have not bought into the Ponzi scheme that owning a home has become would judge the CBs very favourably, as the CBs are inflating the money supply to such a degree that inflation will inevitably result in higher interest rates. What I don't understand is why the regulators are not raising the bank reserve requirements to curtail excessive lending, if raising interest rates is such a hot political potato.
  8. To echo the above posters' comments, I would also suggest that you consider emigration seriously. With teaching/professional qualifications, both Hong Kong and Singapore are very attractive options. I left the UK and moved to Hong Kong in 1997, and haven't looked back. I own my own property outright (as I was able to save a significant proprtion of my earnings over the past 8 years) and am able to spend/save/invest as much of my income (less just 15% tax) on whatever I want. Hong Kong may not be perfect for everyone, but it beats the UK on the most important perameters for me.
  9. First post here, from a short-time lurker. I'm always amused when I see foreign property being marketed in HK, I've always regarded such tactics as a sure-fire sign of desparation on the part of seller. Earlier this year we had NZ property exhibitions, a couple of years ago we had Thai property, and now we have property 'clubs' in the UK being advertised here. Saw an advert purporting to be an article yesterday in the money section of the Sunday Morning Post (sorry, no link, you'll have to register to read it). The 'article' was extolling the virtues of an investment club in the UK being run by Instant Access(?) and provided figures for a sample development in Liverpool (one bed flats, if I recall). The 'club' seems to be targeting the expat community, as I also saw a brief television advert last night - something like 2,500 quid to do the course (but this will rise to about 5,000 in 6 month's time!). The prices being asked for the development were not too far off what you would pay for a similar-sized flat here (granted, the area here would not be very convenient or desireable). However, the outlook for the market here is very different to that for the UK. Haven't heard anyone talking about this here yet, but if I do I'll direct them to this site.
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