Boracay, The Philippines
Sitio Tambisaan, Manoc-Manoc, Malay, Aklan, Boracay, The Philippines
Hong Kong, officially Hong Kong Special Administrative Region, is recognized as one of the most dynamic and exiting cities in the world. Once a small fishing village, it has become one of the world’s most important financial centres with a population of some seven million people in less than two hundred years.
Since the British first arrived in Hong Kong during the Opium Wars in the mid-19th century, the tiny fishing village has undergone dramatic change, making it a dynamic cosmopolitan city that attracts business from all over the world. The iconic and breath-taking skyline, vast harbor and spectacular skyscrapers setting against a backdrop of green hills is a scene the one can hardly forget.
With over 50 nationalities in total resident, the multicultural popular of Hong Kong is indeed what makes this city so interesting. The city often named as the most expensive city for expatriates, and its high wealth concentration boosts the development of the property market that is one of, if not the most expensive housing market in the world.
The heart of the city is Hong Kong Island. There houses the business district of Central, together with most of the senior Government offices and the majority of the luxury properties. Opposite the island’s north shore is some of the most densely populated areas known as Kowloon, which also leads to the New Territories and the border to China. The whole city covers an area of 1,064 sq. km, with Hong Kong Island being only 78.59 sq. km.
On record, Hong Kong’s residential property market has risen relentlessly for several years from 2008 to 2013 in the wake of the global financial crisis. The property prices were reported to be skyrocketed by 134% on account of a flood of money from developed markets’ central banks. However, the market slowed sharply in the recent years. Even so, Hong Kong’s currency peg to the dollar kept borrowing costs near record lows which continues to fuel property demand.
Located in the north of Clear Water Bay Peninsula in the New Territories, Sai Kung was once a fishing village. Sai Kung town has undergone significant expansion in recent years with government’s investment to improve the town seafront. The area also spans an interesting fuse of small boutique-style shops due to an extensive expat community and booming numbers of visiting locals and tourists. The village of Sai Kung is also known as 'Seafood Street' for the local seafood restaurants gathering on the seafront. In terms of housing, Sai Kung is similar to its adjacent area Clearwater Bay that also has no high-rise units. From small apartment buildings to large free-standing residences, detached village houses with terraces or garden to several townhouse complexes with facilities and swimming pool, the area is very popular among families with young children who favour the spacious residences.