I have been living in my current location for 7 years. When I first moved in I was advised I could sign a 2 year contract of which I was required to honor. This was fine, after 2 years I signed another contract however one year into the contract the owner sold the flat. There was no warning, just a notice in the post that I was advised to pay my rent into an account via 7-11. After which no contract could be issued but I could stay on a month by month basis.
So for the last 3 years I have lived here un interrupted. While other owners who lived in the buildding sold and moved it has left only rental tenants. Or the forgotten tenants.... The people property owners that rely on thier tenants to pay rent and property companies that just want to make money.
Last week I recived a notice asking me to move out by the first of November. While this gives me time to look for somewhere, the property market is high and there aren't a lot of choices right now to rent. I looked at 3 places yesterday (only ones available in my price range) And they were really quite ridiculously priced for what they were and it leaves me feel disheartened that property owners are REALLY greedy!
One place was a room of 90sft @$5000!!!! When I was asked if I would rent it, I replied for $2000 yes! $5000 is a joke! Then next place was similar 110sft @ $6000!!!! (i'd pay $2500) You couldn't even fit a mini fridge in these places! The last one... $7200 450sft while it had 2 VERY small bedrooms the living room area was a good size... I just started at it, wondering how on earth there was ANY restrictions on rental prices in HK?? The later one was excellent value HOWEVER the 3 flats next to it have been bought up by the same property company that has bought my current place. So I find myself needing to consider, How long this this landlord sells out to this property company and I will be back in the same boat. The lady showing me the place said, no don't worry he will sign the 2 year contract! I just rolled my eye's and remindered her that she said that last time!
What are the other tenants in my currnt location doing? Well one family applied for government housing and we are all very happy and excited that they got their place! Brilliant! So I thought, there you go! There's an option, I could apply for government housing! I got online to read up and as far as eligibility, I tick all the boxes! BRILLIANT! As proceeded to read the fine print it tells me there is a point allocation system, no problem! Until I read that as a 'single' person I am at the VERY VERY bottom of the list... and it could take years for me to get one. So where am I to live now?
To be continued....
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