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BMW 3-Series (E90 E92) Forum > BMW E90/E92/E93 3-series General Forums > Regional Forums > Asia > Hong Kong > cars getting more and more expensive...



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      11-11-2012, 05:23 AM   #1
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cars getting more and more expensive...

Start of rant

It just occurred to me that the prices of cars has gone up A LOT since... well just even 5-7 years ago.

Back then a 2005 330 Cabriolet with M sport package would set us back around 500k and it has all the bells and whistles and was the top of the line 3 series aside from the M3.

Now, a 335i M Sport Sedan (not even a coupe) would set us back 819k.

So presumably when the 335i M Sport Cabriolet comes out, it would be around 950k~ (and that's being optimistic)....

I know the HK dollar is down and there is inflation but that is... or WAS M3 money...

/rant
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      11-11-2012, 11:51 PM   #2
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Dude... just compare the price of beef 5 years ago and now... Heck, just compare the price of beef last year and now...!
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      11-12-2012, 01:01 AM   #3
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Guys, keep in mind that a F30 328i can embarrass an E36 M3 any day of the week. The 328i wouldn't be too much of a slouch against an E46 M3 either. Only when revved out, would the E46 start to pull away. For street driving the 328i would be punchier.

If you factor in inflation, we're really not doing that bad at all
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      11-12-2012, 10:23 AM   #4
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I agree..., I dont see myself buying a F30 any time soon though, maybe after LCI of the F30. Until then, I am content with my e46
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      11-12-2012, 09:34 PM   #5
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Quote:
Originally Posted by Laguna Seca Blue View Post
Guys, keep in mind that a F30 328i can embarrass an E36 M3 any day of the week. The 328i wouldn't be too much of a slouch against an E46 M3 either. Only when revved out, would the E46 start to pull away. For street driving the 328i would be punchier.

If you factor in inflation, we're really not doing that bad at all
Agree with all of the above except the highlighted section. Because that depends on whether your income growth matches the inflation rate. And for many "da gung zai" and even some "lou ban", their income can't match inflation .
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      11-12-2012, 09:49 PM   #6
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Quote:
Originally Posted by JohnMan View Post
Agree with all of the above except the highlighted section. Because that depends on whether your income growth matches the inflation rate. And for many "da gung zai" and even some "lou ban", their income can't match inflation .
Agree, increase in income can't catch up with inflation. High Cost of living plus inflation is making it harder and harder to afford these cars.
Seems like Hong Kong isn't really for Hong Kong People anymore, its China's cheap duty free vacation destination.
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      11-13-2012, 04:32 AM   #7
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Quote:
Originally Posted by scflaw View Post
Seems like Hong Kong isn't really for Hong Kong People anymore, its China's cheap duty free vacation destination.
Time for me to move back to Canada so I can buy an M5 or a C63 and a 4,000 sq ft house. So sad can only afford a shoebox and a +5 yr old 2nd hand car. Sigh
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      11-13-2012, 05:23 AM   #8
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Quote:
Originally Posted by cc_bavarian View Post
Time for me to move back to Canada so I can buy an M5 or a C63 and a 4,000 sq ft house. So sad can only afford a shoebox and a +5 yr old 2nd hand car. Sigh
PREACH, BROTHA!! The money it costs for a regular 3 series and a decent apartment would get you something substantially better in Canada. I miss Canada sometimes haha, hwy 407 is just awesome.
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      11-13-2012, 07:56 AM   #9
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completely agree with you two. I was from Canada too. I had e90 328 (and family still has a 328i F30)

and seeing the price of 328i M Sport in HK, I really dont think I can get a new car............
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      11-13-2012, 04:07 PM   #10
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Housing price has been gone up way quicker than car's.....
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      11-13-2012, 04:08 PM   #11
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a bowl of pho used to cost me 2.75 10 years ago.
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      11-13-2012, 07:29 PM   #12
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I just know that the cost of a taxi increased from $15 to $20 minimum in 5 years, but my salary has NOT gone up by 25% to cover the increased costs of living in comparison.

And never will. (just an example!)
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      11-13-2012, 09:09 PM   #13
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Quote:
Originally Posted by scflaw
Quote:
Originally Posted by JohnMan View Post
Agree with all of the above except the highlighted section. Because that depends on whether your income growth matches the inflation rate. And for many "da gung zai" and even some "lou ban", their income can't match inflation .
Agree, increase in income can't catch up with inflation. High Cost of living plus inflation is making it harder and harder to afford these cars.
Seems like Hong Kong isn't really for Hong Kong People anymore, its China's cheap duty free vacation destination.
Totally agree. Hk is not for Hong Kong people anymore. We may be able to go back to Canada but I wonder where hk people can go.

But then, properties in Canada went up a lot these years. A single detach with 2 garages can cost over 1m easily. Just thinking about the property tax and maintenance cost scares me.
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      11-13-2012, 10:01 PM   #14
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Quote:
Originally Posted by ny911 View Post
Housing price has been gone up way quicker than car's.....
I think that's because housing is an essential item while cars are not (well at least not in HK). Everyone needs a roof over their heads but not everyone needs a bimmer.

All this anti-mainland sentiment in HK is rooted in the belief that rich mainlanders are driving up housing prices to the extent that local Hkers can no longer afford housing no matter how hard they work. So if you feel you are working so hard and putting 101% effort into your career in hopes of boosting your income, yet still cannot afford a decent house you feel you deserve, of course one would be angry. There is now a role reversal of sorts. While Hkers used to look down on mainlanders as backward "Ah Chans", now mainlanders look down on HKers as "poor locals".

Plus the fact our dollar is tied to the US dollar which is depreciating so that further eats into our spending power. (That's why I bought quite alot of yuan last year!)

Ultimately, if you think about it, the blame does not lie with mainlanders but our own city. The land policy and HK government reliance on land as primary source of revenue. This is compounded by the fact that HK's economy has yet to develop really strong alternative industries that would wean it's reliance off real estate. This has bedeviled HK since before the handover and remains the key problem. Mainlanders only take advantage of this conundrum to enrich themselves (as have many mega-rich Hkers). So now even many middle-class people, professionals or management folks like ourselves are squeezed dried.
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      11-14-2012, 10:35 AM   #15
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Quote:
Originally Posted by JohnMan View Post
I think that's because housing is an essential item while cars are not (well at least not in HK). Everyone needs a roof over their heads but not everyone needs a bimmer.

All this anti-mainland sentiment in HK is rooted in the belief that rich mainlanders are driving up housing prices to the extent that local Hkers can no longer afford housing no matter how hard they work. So if you feel you are working so hard and putting 101% effort into your career in hopes of boosting your income, yet still cannot afford a decent house you feel you deserve, of course one would be angry. There is now a role reversal of sorts. While Hkers used to look down on mainlanders as backward "Ah Chans", now mainlanders look down on HKers as "poor locals".

Plus the fact our dollar is tied to the US dollar which is depreciating so that further eats into our spending power. (That's why I bought quite alot of yuan last year!)

Ultimately, if you think about it, the blame does not lie with mainlanders but our own city. The land policy and HK government reliance on land as primary source of revenue. This is compounded by the fact that HK's economy has yet to develop really strong alternative industries that would wean it's reliance off real estate. This has bedeviled HK since before the handover and remains the key problem. Mainlanders only take advantage of this conundrum to enrich themselves (as have many mega-rich Hkers). So now even many middle-class people, professionals or management folks like ourselves are squeezed dried.
Agreed with everything you say.

It's sort of sad how things are. But on the other hand, many tycoons did get to where they are today because of the insane housing market. Of course the opposite is true as well.
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      01-09-2013, 07:23 AM   #16
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Quote:
Originally Posted by cc_bavarian View Post
Time for me to move back to Canada so I can buy an M5 or a C63 and a 4,000 sq ft house. So sad can only afford a shoebox and a +5 yr old 2nd hand car. Sigh
Come on man, I would assume most ppl driving BMW and let alone in this forum be raking in at least HKD1,000,000 annually ( i know its meaningful money but there are many that make more and likewise many that make less than that). Or am I mistaken?

Surely $1m HKD annually can get u a new 328i F30 and pay ur mortgage.
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      01-09-2013, 08:55 AM   #17
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Quote:
Originally Posted by Tra08R View Post
Come on man, I would assume most ppl driving BMW and let alone in this forum be raking in at least HKD1,000,000 annually ( i know its meaningful money but there are many that make more and likewise many that make less than that). Or am I mistaken?

Surely $1m HKD annually can get u a new 328i F30 and pay ur mortgage.
Well.... I sure as hell don't take home HK$1m annually....
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      01-09-2013, 09:39 AM   #18
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Well.... I sure as hell don't take home HK$1m annually....
+1000.....

nope don't make $1m per year.
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      01-13-2013, 12:31 AM   #19
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Quote:
Originally Posted by cc_bavarian View Post
Time for me to move back to Canada so I can buy an M5 or a C63 and a 4,000 sq ft house. So sad can only afford a shoebox and a +5 yr old 2nd hand car. Sigh
Seriously.. hong kong is a mess, everything is overpriced. Only way to survive here is to really "make" it. Amen to the 4,000 sq ft house...
I always wondered what simonlam168 does to own that many cars in HK!
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      01-13-2013, 10:01 PM   #20
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Originally Posted by playground View Post
Seriously.. hong kong is a mess, everything is overpriced. Only way to survive here is to really "make" it. Amen to the 4,000 sq ft house...
I always wondered what simonlam168 does to own that many cars in HK!
Someone once reported that HK has the highest number of supercars per capita... looking at the quality of cars on a SMD, like the one at TST 2 weekends ago, I'm not surprised.

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