Real Estate Bull Run Continues

The rendering of The Arles in Fo Tan, New Territories

There are some people in Hong Kong who are really flush with cash.

Today someone bought the entire floor, or eight units of a new development called The Arles in Fo Tan, New Territories for HK$100 million. 

What will the owner do with them? Make them into one giant flat?! Or rent them out? Or buy them for eight family members? 

Prices of the flats ranged from HK$6.17 million to HK$23.5 million for 228 sq ft to 947 sq ft. 

Three rounds of flat-selling have been held so far

In Fo Tan. 

An industrial area.

In total 116 flats out of 272 were sold, with a 15 percent discount to HK$20,905 per square foot.

Apparently buyers came out with confidence on hearing the news the border with China may reopen in February, and Chief Executive Carrie Lam Cheng Yuet-ngor's big plans for the Northern Metropolis near the border, where it is expected 2.5 million people may live there in 20 years. 

The metropolis will include Tin Shui Wai, Yuen Long, Sheung Shui and Fanling.

"Since the stock market has recently been less volatile, the overall sentiment towards the property market is pretty good," Midland Realty's chief executive of the residential division Sammy Po Siu-ming said. He indicated more buyers are entering the market after Lam's policy address about the Northern Metropolis.

Buyers are bullish on the Northern Metropolis

So these buyers are bullish on Hong Kong, particularly the New Territories, but the prices are breathtaking.

Fashion Gripes of the Day

Please cut those white threads off the back of your coat!

Most Hong Kong people like to pride themselves on being fashionable.

But sometimes they are just slightly off the mark.

These days I see a lot of young people wearing coats and don't realize they need to cut off the "x" seam at the back to allow the vent to open.

Yesterday I walked behind this young man for about 15 minutes in Fotan in the New Territories and wanted to tap him on the shoulder and say, "You need to cut off that white thread at the back of your coat!"

I've seen young women wearing coats and not cutting off the "x" threads either. The sales people should really let them know they should cut it off when they get home. It's a sign that the coat is new, but if you keep wearing it like that, then it just shows your ignorance unfortunately!

Furry mules... are they really necessary?

Another fashion faux pas are fashion slaves. They will buy the latest "it" pieces without thinking about practicality or if the item suits them.

Take these latest Gucci mules called Princetown leather slippers. They are designer street dusters because the fur is touching the ground and how practical is it wearing these shoes? How can you even walk in them?

I spotted this woman wearing them in Kennedy Town -- not exactly The Landmark.

Apparently these shoes cost US$995 but they have this air of aristocracy that seems so out of place in 2017. Hardly seems practical or necessary...