Hong Kong is known to have some of the highest property prices in the world. Hong Kong Island is rated as the 3rd most expensive place to buy or rent real estate in the whole world. The reason is a simple case of supply and demand. Hong Kong is a hotspot for international businesses who set up their headquarters in Asia. The every growing tourism industry is also putting a strain on things as hotels replace apartments and condos.
A quick hop over the bay will have you on Lantau Island. This is the location of the airport and Disneyland with many areas not yet developed. The most development over the past 10 years has been focused in Discovery Bay. This is a community of around 20,000 international residents who enjoy traffic free living. The close proximity to the airport makes this a great location for those who need to travel around Asia.
Discovery Bay property prices are around a third cheaper than on Hong Kong Island. The transport infrastructure is excellent with regular ferry services to Hong Kong Island, or commuters can travel by railway or road. Discovery Bay property is plentiful thanks to excellent advance planing from the developers.
The picturesque region was originally to be a tourist hotspot but plans were changed at the last minute. This means residents enjoy an excellent beachfront selling with sweeping views of the sea. Families will be happy to learn that there are no cars allowed which makes the area safer for children to play outside. Not to mention less noise and air pollution. Residents get around the old fashioned way, by walking or cycling. There is also a limited number of slots available for electric golf buggies.
So if you are thinking of moving to Hong Kong or need a place to live as a travel hub in Asia, Discovery Bay should be one of your considerations. It combines all the benefits of living in Hong Kong with a more affordable lifestyle.
Source: worldwide property rates http://www.globalpropertyguide.com/most-expensive-cities