Escaping from Toronto
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Escaping from Toronto


Damon Ho


In recent years, Hong Kong's emigration problem has become a hot topic. For the majority of these emigrants, their hot picks mainly have been spreading over to countries such as the United Kingdom, Australia, the United States of America and Canada. Among of them, Toronto in Canada is a real hot spot other than British cities for Hong Kong people to emigrate. In the past decade, Toronto gained vigorous development and attracted huge amount of overseas immigrants.  Consequently, the local property prices have been skyrocketing over years.

 Manny landed immigrants from Hong Kong may find the property prices in Toronto are astonishingly high. Due to the large amount  of overseas immigrants and students, the local rental market is also stronger than expected. 

 Like most western cities, Toronto is high tax rate, and ordinary workers are hard to save money to pay the down pavement for the first time buying.  The high-priced properties have been drawn the complaining from the local peoples.   Three years ago, house prices jumped by 50% within two years, and it only has decreased by about 10% since last year.

 Due to the high house prices, more locals have moved out to other cities with lower property prices and living expenses. The growing figures have strengthened this tendency. This trend of fleeing Toronto has become new social phenomenon in recent years.

Most young Hong Kong landed immigrants will quickly discover that the local rent is also very high. Generally speaking, they have had to share to rent an apartment or a basement unit of a townhouse with two or three tenants.

The local minimum wage is approximately 15 Canadian dollars (about 90 Hong Kong dollars) per hour. Due to the high tax rate, it is not easy to save. The local sales tax is 13%, and the customers have to pay additional 10% tips for every meals they enjoy. A Hong Kong style breakfast meal costs about 13 Canadian dollars (about 80 Hong Kong dollars). So most families prepare their breakfasts at home from Monday to Friday.

Hong Kong young new immigrants, if they don't have their fathers’ support, they might need to spend one decade to save the down payment to buy a high-priced condominium or some low prices townhouses.

Nowadays many Hong Kong peoples move to the Greater Bay Area after retirement. Big cities like Toronto, the growing people tend to move to other cities before retirement. Wherever the Hong Kong people move now, they must have strong mentality, otherwise it will be difficult to adapt changing environment.

Escaping from Toronto
1. 美銀行股股災
2023-03-18 19:12
2. FIRST REPUBLIC dropped 33%
2023-03-18 21:39

Indexes across Europe and the US fell on Friday as a sell-off in troubled Swiss lending giant Credit Suisse gathered pace. Credit Suisse shares fell 8%.

In the US, shares in First Republic dropped 33%, a day after it received an injection of funds from the country's biggest banks.

3. 雨後飛揚補地價便
2023-03-19 12:15
4. 飛揚再加推尺價如2.6%
2023-03-19 16:59
5. Drugstore re-emerage in prime location
2023-03-19 18:46

With the reopening of the border and an influx of visitors to Hong Kong, there has been a surge in the opening of drugstores in prime locations.

Following a spate of new leases in prime Tsim Sha Tsui and Mong Kok locations to drugstores, a street-level shop on Nathan Road has been leased out for HK$176 per square foot, representing a 27 percent increase, to a pharmacist amid increased demand.

The previous tenant operated a mask store for almost three years during the pandemic.

Completed in 1937, 190 Nathan Road at the junction of Austin Road is a Grade III historical building and a landmark in the district.

6. CHINA SUPPORT HK to be a finincial centre
2023-03-20 19:11

People’s Bank of China governor Yi Gang assured that it would fully support Hong Kong’s status as an international financial centre.

In his meeting with Chief Executive John Lee, Yi also said that the central bank would provide conducive factors and environment through its policies and measures whilst maintaining effective and proactive communication and co-operation with the city government.

Lee then expressed his gratitude to Yi and the bank for its continuous support and looked forward to strengthening green finance co-operation between Hong Kong and Mainland China.

7. Nano flats stocks expected to increase
2023-03-21 10:14

The number of nano flats expected to be completed in 2022 is 2,015, which is double the 2021 estimate of 906, data from JLL Research showed.

Stocks of nano flats is expected to increase further in 2022, as the estimated number of units for completion doubled to 2,015 from 906 in 2021, data from JLL Research showed.

The supply of nano flats, which has a saleable floor area of 215 square feet (sq ft) or less, has been increasing since 2016 and as of 2020 it already reached 12,175, making up about 1% of private housing stock.

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