{"id":25211,"date":"2021-06-01T08:58:23","date_gmt":"2021-06-01T08:58:23","guid":{"rendered":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=25211"},"modified":"2021-07-08T08:46:32","modified_gmt":"2021-07-08T08:46:32","slug":"the-price-of-property-has-gone-mad","status":"publish","type":"page","link":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=25211","title":{"rendered":"The price of property has gone mad"},"content":{"rendered":"<p>A Victorian wooden hut near Shaftesbury, Dorset, once used as a shepherd&#8217;s hut, and now thoroughly rotten and sporting a leaky roof, has just sold for <strong>2,000% more<\/strong> than the asking price.<\/p>\n<p>The hut was valued at \u00a3800 and a local sheep farmer had hoped to bring it back to life to continue its use for the future.<\/p>\n<p>However, the building has been bought by a buyer from London, who intends to turn the 6ft x 9ft building into an AirBnB rental property.<\/p>\n<p>Further afield, a parking space located close to Hong Kong&#8217;s Victoria Harbour has just sold for a few thousand pounds short of \u00a31 million (US$1.3 million or HK$10.2 million).<\/p>\n<p>The affluent area known as The Peak comprises luxury homes overlooking the harbour.<\/p>\n<p>Just as we have experienced in the UK and elsewhere around the world, Hong Kong&#8217;s property prices have shot through the roof, particularly since pandemic lockdown easing has taken place. The overcrowded city also has a huge market for speculative property purchases, and demand is high for top end homes.<\/p>\n<p>To put the car parking space into perspective, the most expensive rental house in Hong Kong has just been let, which commands the grand price of $210,000 a month.<\/p>\n<p>And unlike the UK, where recent data shows we all want to run away to live the dream in the country, Hong Kong&#8217;s 7.5 million citizens occupy a space totalling 405 sq miles, equating to a population density of 18,492 people per sq mile. By comparison, the UK&#8217;s 68.2 million people occupy 93,410 sq miles, equating to a far more spacious 727 people per sq mile.<\/p>\n<p>Perhaps it&#8217;s not so surprising, therefore, that despite Brexit the UK is still a popular haven for Hong Kong property investment.<\/p>\n<p>\u00a9<a href=\"http:\/\/www.propertysurveying.co.uk\/INDEX\/INDEX1.html\">www.PropertySurveying.co.uk<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Victorian wooden hut near Shaftesbury, Dorset, once used as a shepherd&#8217;s hut, and now thoroughly rotten and sporting a leaky roof, has just sold for 2,000% more than the asking price. The hut was valued at \u00a3800 and a local sheep farmer had hoped to bring it back to life to continue its use &hellip; <a href=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=25211\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;The price of property has gone mad&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":24024,"parent":22315,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"folder":[564],"class_list":["post-25211","page","type-page","status-publish","has-post-thumbnail","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The price of property has gone mad - Property Surveying NEWSLETTER<\/title>\n<meta name=\"description\" content=\"We wonder where property price increases will show sense, as a shepherd&#039;s hut and a car parking space sell for far more than expected.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=25211\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The price of property has gone mad - 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