Hong Kong is an interesting one. The country/city is basically at full employment right now, so it has that going for it, on top of that the Government now has enough money in the kitty to fund the next 25 months of spending, even if tax revenues dropped to 0 tomorrow, and the Gov't couldn't sell any bonds.
But it's not all rosy, the property market is in a huge bubble which is preventing young people from moving out of their parents home, it is a large cause of animosity amongst the youths.
To qualify: I live in a dinky little apartment, there's no lift, the building is extremely old and is starting to fall apart. In fact, the building is scheduled to be pulled down in the next two years.
My rent? Over $20k usd per year. I'm not even anywhere close to the central districts.
A colleague recently bought his apartment up in the New Territories. The NT is by far the cheapest area of HK, as it's nowhere near as developed as the rest of HK. His apartment is 600 square-foot, it cost around $700k USD.
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I'm not sure if this property bubble will make it out of this year, to be honest. If the USD surges, like it is predicted this year, then China and HK may end up breaking peg, or at least adjusting the peg. Such moves will be a negative for the property market, and a positive for my wallet (but disastrous for many retired HKers who use rental incomes as their pensions).
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