Hong Kong’s about 8 million inhabitants have a distinctive relationship to property. As a city without social security and limited pension schemes, property is a means of gaining security, or to some simply getting a nice place to call home without having to face excruciating rent rises each term. Having experienced decade-long appreciation, often in 2 digits annually, and favoured as a prime investment category by inlanders as well as foreign investors the buying cost of most Hong Kong apartments, even social housing to some extend, has reached levels in which young people are left out in the cold without decent support from parents.
Burdened with the challenge of buying a place, even the tiniest apartments in large 50-floor condos prove to be attractive buying opportunities. The usually large sales events in the primary property market attract large crowds of viewers, waiting to get a glimpse of the space before deciding to reserve.