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China Ghost Cities: Towers or Flats like that in PH?


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China Ghost Cities: Towers or Flats like that coming to PH?

Mainland Chinese investors have created whole "Ghost Cities" in China.

And they have "ghost flats" in Hong Kong, left empty, apart from shopping bags, & occasional visitors.

Will we see that in PH too?  Manila Bay area?  Anywhere else?

Why are there dozens of 'ghost cities' in China?

Jun 26, 2018

Fancy villas, high-rise apartment blocks, lakes, parks and sprawling road networks: ghost cities in China have it all — except people. To some, the empty sprawls are a sign of a Chinese debt crisis, but to others it shows China's thinking one step ahead.

"the few people who live here wonder if they will ever get neighbors"

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ABANDONED LUXURY APARTMENTS - HONG KONG

 

Hmm/ 

I think I saw that place. An OLD complex on an island near HK

You can tell by the decoration that it is NOT new

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This is a ridiculous price. I think they saw that many Chinese are renting at that area (in Oriental Garden, the Beacon...) so they think it will be easy to have the unit for rent, that's why they put this absurd price up. Most of those Chinese are working for online gambling companies. One day there will be a crackdown on those shady businesses and that area will become a ghost town right afterward lol.

https://www.skyscrapercity.com/showthread.php?t=1943080&page=3

RE. Red Residences

This is the first of many soon-to-rise SMDC condos along Chino Roces Ave. You may think the units here are expensive now, but when the other towers are launch, this will be the cheapest.

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https://gefira.org/en/2017/12/05/in-300-years-there-are-only-300-japanese-left/

Japan could become the next ghost country. Vacancy rates have exploded from 0pct to 15pct, and outside of the big cities, it is worse.

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Some of those posters may be hyperventilating fumes ... or secretly consuming intoxicants

Will "Little China" (near TechZone) become a Ghost town?  

I cannot see that... but the inspirational film had ghosts in it

Big Trouble in Little China (4/5) Movie CLIP - Rescuing Gracie (1986) HD

 

The change in the demographic in that neighborhood has been remarkable over the last three years.

The new modern chinese seem more comfortable in the streets near Chino Roces, rather than back in the Old Binondo / Chinatown area,

IMG_3837-1024x768.jpg

Manila Chinatown / which is reviving, but not as fast as I had guessed it would.  The growth is following Jobs, not old history.

kalesa.jpg

The Ghosttowns, I was thinking of in the headline here was Properties purchased and intentionally kept empty (by their new owners)

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" Properties purchased and intentionally kept empty (by their new owners) "

hong-kong-(reuters)_625x300_153027808767

 

This has become such a common problem in Hong Kong, that legislation has been proposed to cope with it

What’s behind Hong Kong’s push for a vacancy tax on empty homes – and will it really work?

What’s the plan and why do some pundits find the idea less than exciting?

What’s the vacancy tax plan?

Although Lam has been tight-lipped about details, one proposal that has been leaked to the media suggested that all new flats that had been left unsold for more than a year would be subject to the tax, which would be twice a home’s rateable value.

ee164d0e-79dc-11e8-8ce4-b59b2fedb43f_132

 
The rateable value is the estimated annual rental value of a flat, calculated by government specialists and based on market rates. For example, if a new 500 sq ft flat can be rented out in Wan Chai for HK$40,000 (US$5,130) a month, its rateable value is HK$480,000, so the vacancy tax would be HK$960,000 under the leaked proposal.

In Australia, Victoria state imposes a “vacant residential land tax” on absentee homeowners in Melbourne, which is set at 1 per cent of the value of a house not occupied for six months a year.

Paris has set its vacant home tax at 60 per cent of a flat’s fair market rental value.

Many British cities slap an extra 50 per cent on a standard property tax owners already pay if they leave their home empty for at least two years.

https://www.scmp.com/news/hong-kong/hong-kong-economy/article/2152769/whats-behind-hong-kongs-push-vacancy-tax-empty

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