[URBAN NOTE] "First signs appear of a rising tide of young Hong Kong emigrants"

[rfmcdonald]

Another South China Morning Postarticle by Peter Guy looks at the risk of large-scale emigration by young Hong Kongers.

According to a Chinese University of Hong Kong survey featured this month in the SCMP, about 40 per cent of Hongkongers want to move away from the city. One in 10 prospective emigrants is making actual plans to do so. Respondents cited dissatisfaction with the government, crowded living conditions and major and political and social disputes as the main reasons for their plan.

The survey showed that younger people had a stronger desire to move abroad than their older counterparts. About 57 per cent of those between 18 and 30 said they had emigration plans compared with just 26 per cent of those aged 51 and above. Taiwan was also the most preferred destination with 16.3 per cent of respondents picking the island. Australia and Canada came in second and third place.

SSNo foreigner would ever relocate here for a senior position unless they received a housing allowance. That’s why there are so many listings for flats renting for HK$70,000 and more

Many of those looking to leave Hong Kong said factors such as larger living areas, higher democracy and freedom levels influenced their choices.

The city’s affordability problem will persist because it is unlikely that real incomes will rise high and fast enough for average citizens to be able to afford liveable flats. It is even more ludicrous to expect prices to fall by half. It won’t be long before 188 square foot flats become 150 then 100- a twisted, dystopic scene that local developers cruelly photoshop into their luxury websites.