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Among the most prominent of these are Trophy Properties and Ritz Apartments. [1] As of 2006 and 2007 CitiApartments and its affiliates owned 307 apartment buildings with a total of more than 6,500 apartment units housing more than 7,000 residents, making it the second-largest owner of residential rental property in San Francisco at the time. [2]
Government rent in Hong Kong started on July 1, 1997, with the inception of the Joint Declaration. It said that new land grants contain a standard condition that the lessee is required to pay an annual rent, equal to 3% of the rateable value from time to time of the land leased.
A CBRE report from 2019 lists Hong Kong as having the highest average property price in the world. [20] As of June 2021, an average 500 sqft apartment cost HK$9.44 million in Hong Kong Island, HK$8.32 million in Kowloon, and HK$7 million in New Territories; an average family would have to save for about 20.7 years to pay for such a unit. [21]
The San Francisco Rent Ordinance imposed rent control and eviction protection on residential units built before June 13, 1979. [27] A 2019 study has estimated that rent control has "reduced the supply of available rental housing by 15 percent" which "increased rents in the long run."
In 1893, the San Francisco Call confidently bragged that according to an agent from the United States Department of Labor, there were no slums in the city. Although Chinatown was mentioned as a notable exception, the "unsavory, unsightly quarter" was thought to be "rapidly growing smaller and may finally reach the vanishing point" as immigration had been throttled by the Chinese Exclusion Act ...
Private housing estate is a term used in Hong Kong for private mass housing—a housing estate built by a private developer, as opposed to a public housing estate built by the Hong Kong Housing Authority or the Hong Kong Housing Society. It is usually characterised by a cluster of high-rise buildings, with its own market or shopping mall.
In 2009, Hong Kong's real economic growth fell by 2.8% as a result of the Great Recession. [33] By the late 20th century, Hong Kong was the seventh largest port in the world and second only to New York City and Rotterdam in terms of container throughput. Hong Kong is a full Member of the World Trade Organization. [34]
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