Monday, October 25, 2010

A thought of Cuff Link, Rolex and a House Purchase in Hong Kong

This is an untouched Set of Hic Kok Tiger Eye Tie Clip and Cuff Link set (Made in USA) we bought in 1976 at Tsim Sha Tsui Wing On Department store. We paid for HKD$25.00 only, however, at that time, one bowl of Wan Ton Noodles was selling at HKD$0.3 in Kowloon City.
A bottle of Pepsi was selling at HKD$0.20.
A street side barber shop for a crew cut was HKD$0.70. A bowl of Yeung Chun Noodles (mean pure noodles without any other meat or vegetables was selling at HKD$0.60 in Kwun Tong Yue Man Fong!
A Rolex Two tone men's Date Just was Selling at HKD$1,896.00. By converting into Today Current value, a Rolex Two Tone Men's Date Just is HKD60,000.
I estimate this Set of Cuff link is approximately selling at HKD$3000.00 nowadays.
By Conversion on the hair cut nowadays, I used to go for HKD$140.00 a cut, so the rate of appreciation for hair cut is 200 times.
A Hamburger is about HKD$14.2/1.2=12 times.
Rolex Appreciation is HKD$60,000/1,896=31 times
A bottle of Pepsi is HKD$8.00/0.2=40 times
A bowl of Wanton Noodles is HKD$14.0/0.3=46 times
A cocktail bun is now HKD$5.2/0.075 = 69 times (in 1976, we can buy two cocktail bun at HKD$0.15!)
Cuff Link sets is HKD$3,000/25=120 times
A Flat of 700 square foot in an average location is approximately HKD$20,000 in that year. So by now it is HKD$6,000,000/20,000= 300 times.
The Conclusion is that the real estate is still the best guarantee for you money back after certain years…It is still wise for you to buy a flat in Hong Kong, after all, if you still have some money, you should buy a pair of good cuff links or a Rolex Watch. Worth your thought!?

PS. According to the government official, the real estate orice will rise for 10%-15% in 2011. Is that so!? What is the government doing for helping those people like us that would never afford to buy a house!!?

HK Snob

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